If you’re looking to purchase your first home, you might assume the most important aspect of a successful sale is the real estate agent who represents you along with your specific wants and needs. While this is true, there is a more important aspect to home buying that can mean the difference between purchasing a home that’s solidly constructed and requires little if any repair, and a home that’s destined to become a money pit. It’s called a home inspection.
Says Northern VA Real Estate Agent – Reynolds Team, a successful real estate agent will always put the client first. That’s why an agent should provide a seamless customer-centric buying process (the same goes for selling your home). This includes placing primary importance on the home inspection.
That said, what are some of the ways in which home inspections are the key to a successful first home purchase? According to a recent report by Business Insider, the point of a home inspection is simple: it helps guarantee that you are making a fiscally sound purchase.
Maybe you aren’t required to hire a certified home inspector, but by doing so, you stand the chance to save a lot of money. A proper inspection conducted by a certified professional will alert you to problems you might not even recognize with the naked eye. In the final analysis, you might come to realize that you don’t want to buy the home you had your heart set on at all.
Defining a Home Inspection
After you or your real estate agent has scheduled a home inspection for a property you’re interested in, a licensed inspector will arrive at the property with the intent to assess its overall condition. He or she will then collect all the information in the form of a detailed report.
The report will reveal existing and potential issues with the home and its many working components. What the report will not tell you, however, is the value of the home. But a home inspector can alert you to signs of water damage, leaky basement windows, or an HVAC system that’s far past its warranty and its expected lifespan.
It’s also the inspector’s job to look for problems that are not so obvious to a layperson, but that could jeopardize your safety and cost you a bundle to repair. It’s for this reason alone that you should hire a home inspector prior to buying your first home.
The Importance of a Home Inspection
The last thing you need when purchasing your first home is to end up with a lemon that’s going to cost you a small fortune in repairs. A home inspection can potentially prevent you from buying that lemon of a house since all the major issues will be exposed for you to see.
On occasion, a home inspector will even uncover a problem that can have major consequences such as major water damage or a bad foundation. In each of these cases, it’s possible the home qualifies as a “tear down” and not a safe place to raise a family in.
If your real estate agent has acquired a contractual inspection contingency on your behalf, you have the right to either re-negotiate the contract or back out of it altogether if major problems have been uncovered.
What the Home Inspection Will Cover
Proper home inspections will cover the following:
Structural components: A licensed inspector will evaluate a property’s structural components which include the ceiling, floors, windows, plus the foundation, and interior/exterior walls. Inspectors will reveal information about the overall state of the components and offer advice on anything that requires repair immediately or the near future. They will also let you know if any structural components need repair due to normal wear and tear, or because of neglect.
Inspectors will also examine these home systems:
Electrical: This includes electric panel inspection, plus wiring, switches, fixtures, and outlets.
Plumbing: Toilets, baths, showers, piping, and sinks will be evaluated, along with water pressure and temperatures. Seeking out leaks either visible to the naked eye or hidden inside walls are of major concern. Even the condition of the waste trap will be inspected.
HVAC: heating and cooling systems will be tested thoroughly, along with the attached ductwork. The cooling system must provide cool air, and the heat system, hot air. If the system is beyond its prime and requires repair or replacement, it will be noted in the report.
Attic and roof: A good inspector will put on a safety harness and climb up to the roof to get a make a close inspection of the roofing materials and underlayment. If you need to replace the existing roof, the inspector will inform you in his report. He will also inspect the attic to make sure it’s properly insulated and ventilated to prevent mold buildup.
Basement: The condition of the basement is as important as the roof, since evidence of water and structural damage can signal a home that needs either major repair or requires a total tear-down.
In the end, purchasing your first home can be an exciting adventure. Just make sure you choose a certified and/or licensed home inspection professional to provide you with a thorough evaluation. Anything less can mean you won’t be living in the home sweet home of your dreams, but instead, a financial nightmare.