Why 88% of Home Buyers Invest in a Home Inspection

Why 88% of Home Buyers Invest in a Home Inspection

  • Meridian Group Real Estate

Nearly 90% of buyers of The Meadows, CO, houses for sale will order an inspection shortly after they agree to a deal to purchase a new home. The inspector will come to the house and thoroughly look over all interior and exterior spaces. They will file a report that details their findings and lets the buyer know if there are any concerns about the home’s condition. Occasionally, a buyer will offer to waive the inspection as a way of making their offer more appealing to the seller. While this is common in a competitive market, most real estate agents will recommend that you don’t skip the inspection. Here’s why it’s always a good idea to get an inspection before you move forward with a deal.

1. You’ll have an out

Imagine that the inspector comes to your home and discovers that the property has foundation issues. The home will need three piers on either side to prevent the possibility of future damage to the home. This is a repair that can cost thousands of dollars in order to complete. If you don’t realize this is happening until after you have purchased the home, you’re out of luck. Nobody is responsible for the repair beside you. On the other hand, if you find out the home needs work done on the foundation during the option period, you can negotiate with the seller about who will be responsible for the repair. If you’re uncomfortable with the amount of work that needs to be done, you can walk away from the deal entirely. Nobody wants to see a deal fall apart once terms have already been agreed upon, but you would rather learn about a house’s condition before you spend thousands of dollars rather than after the money has already been exchanged.

2. You can have peace of mind about the home’s air quality

Some homes have issues like radon present in the air that is impossible to detect without a thorough test of the home’s air quality. These issues can lead to respiratory illnesses when left untreated. This is especially common in homes that have recently been boarded up since ventilation and airflow is restricted. Checking the quality of the air in your home is one task your inspector will perform when they arrive for the inspection. Once they sign off on your home’s air quality and ensure that the space is safe, you’ll be able to breathe easier.

3. You’ll probably need one before you can get a home insurance policy

Most home insurance companies require a home inspection before they will issue a policy on a home. They need to know what sort of issues already exist within the home and what repairs or issues they might be liable for in the future. Some lenders will require you to have a home insurance policy, and it’s still a good idea to insure your home even if it’s not required. You never know when you might have to deal with damage as a result of a fire or natural disaster, and you don’t want these expenses to come entirely out of your pocket.

4. You can confirm that your home is legal and up to code

The previous owner may have taken on a few projects or renovations inside the home. They could have hired a contractor to help them with these tasks, or they could have done the work on their own. If any of the renovations were DIY projects, there is a chance that they were not done in a way that meets city codes and ordinances. The inspector will discover if any of these issues are present and will include them in the report. If your home isn’t up to code, you may have to pay more for your home insurance policy. These types of issues can also lead to greater problems down the road if something breaks or goes wrong. Knowing what code violations exist in the home gives you a chance to make any necessary changes or repairs.

5. You can budget for future repairs

This is especially important if your home is already several years old. You will want to know how old the roof, HVAC system, and water heater are, in addition to other key home components. If it’s been several years since any work was done, these are things you may be liable to repair or replace in the future. These can be expensive projects to take on, but your inspector can give you clarity about what kind of shape various home fixtures are in and how soon you may have to put significant money into maintenance and upkeep.

6. You can make a non-emotional decision

Many people fall in love with a specific house when shopping for The Meadows CO houses for sale. They get so excited about the prospect of living in the house that they are willing to ignore logic and reason. Nobody wants to find out that their dream home is going to require thousands of dollars worth of repairs to solve major plumbing or electrical issues. However, it’s better to figure out that these things are going on before the house becomes solely your responsibility.

7. You’ll see why there was a price drop

This happens often with houses that have already spent several weeks on the market. The original buyer discovers an issue during their inspection that causes them to walk away from the deal. The home goes back onto the market at a discounted rate, and buyers take notice of the price drop. Remember that if a deal seems too good to be true, it probably is.
You can rely on Meridian Group Real Estate to help you with your upcoming home sale or purchase. Their agents take pride in treating each of their clients like family. They each hold a strong commitment to providing the best possible communication and the highest levels of customer service throughout the entire process. Reach out to their office when you’re ready to begin shopping for The Meadows CO houses for sale.

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