First-time Homebuyer’s Guide: Getting a Home Inspection

When you get to the home inspection phase of buying your first home, you’ve already made several important decisions. You’ve narrowed down what you need in a home, prioritizing must-have features over wants. You’ve chosen a REALTOR®. If you’re taking out a mortgage, you’ve gotten pre-approved for a loan and selected a lender. And, you’ve made an offer to buy the home, contingent upon a home inspection, which has been accepted by the seller.

After all of “this,” the last thing most buyers want to think about is spending more money on a home inspection. At Country Mile REALTORS®, we believe getting a home inspection will help you make an informed decision about any risks associated with your home-buying investment. We hope the below five reasons will help to convince you!

So, Why Do Home Inspections Matter?

When you get to the point where you make an offer on a home, and it’s accepted, you and your REALTOR® have done all you can do on your respective parts to protect the significant investment you’re about to make.

You’ve walked through the home several times, reviewed the Property Disclosure form with a fine-tooth comb, and asked questions about possible “issues” and got answers from the seller’s agent. In short, you’ve done everything you can do. So, why spend several hundred dollars on a home inspection, which generally will run you between $300 and $600?

It Could Save You a Lot of $$$$$

So, you’ve done your due diligence, but is that enough? I would say, “No, it’s not.” Why? Think of a home inspection as insurance against unwelcome, expensive surprises relating to the home you intend to purchase.

Case in point: I had a client who was selling a really nice home with no visible, obvious defects. Another agent brought a buyer to the table whose offer to purchase the home was contingent upon a home inspection. That home inspection was a lifesaver for the buyer because it revealed there was a huge hole under the house. The seller then had to spend a lot of money to fix the foundation. But had the buyer skipped having a home inspection, they would have had to spend thousands of dollars to fix the foundation themselves.

It Reveals the Good, the Bad, & the Ugly

While you may have done everything you can do as a prospective buyer, you haven’t climbed onto the roof and looked at the condition of the shingles. You haven’t inspected the home’s walls for cracks, bulges, and signs of water damage or shifting of the foundation. You haven’t inspected the home’s HVAC system, checking to make sure the unit turns on and off and heats or cools like it should. You haven’t inspected the home’s plumbing, checking to see if there are signs of pipe corrosion or leaks.

You haven’t done a thorough check-up on the home’s electrical health. You haven’t confirmed whether there are enough outlets with the right wattage in every room or tested light switches, sockets, and electrical panels, ensuring that everything is in working order and up to code. A thorough home inspection report will address all these issues and more.

It Gives You a Bargaining Chip

Depending on what’s learned, a comprehensive home inspection can also provide a buyer with valuable leverage in renegotiating the terms of a sales contract. So, say the home inspector finds the roof needs to be replaced. Depending on the size of the home, a new roof can cost upwards of $15,000 or more. At this point, as a buyer, you can approach the seller and either renegotiate for a lower sale price or request that the roof be replaced before finalizing the deal.

It Provides an “Out”

Remember what we said earlier about a home inspection functioning as insurance of sorts against unwelcome and expensive repairs? Well, an inspection contingency also gives the buyer an out if the inspection report highlights problems the buyer considers are “deal breakers.” Yes, they can choose to negotiate repairs or renegotiate the sale price, but they also have the option of canceling the contract and walking away.

It Gives You Peace of Mind

Finally, I hope after reading this blog and seeing the many buyer-specific benefits associated with a home inspection that you see the wisdom associated with getting one. There are literally hundreds of potential problems in areas of the home that inspectors will check and include in their report. Having that extra peace of mind could save you a lot of heartache, regret, and money.

Be sure to look for our next blog: The Pre-Closing Checklist. It’s filled with important insights you’ll need before you’re handed the keys to your new home! Don’t miss it! Until then, if you have any questions about this blog, need a Realtor, or want info about any listings in the area, just give us a call. At Country Mile REALTORS®, we’re here for you!