5 Reasons Why Home Inspections Are Important
The decision to purchase a new home is an important one, and one of the most significant investments you may make in your life.
Finding the perfect home in Florida may cause you to get swept away in the excitement, making it easy to forget the critical step of having a home inspection completed before closing.
Home inspections are a significant part of the home buying process- one that can have vast consequences if ignored. If you want to avoid the risk of potential issues that can cost you tens of thousands in repairs, turning your dream home into a nightmare, you should have a home inspection completed immediately.
Here are five prime reasons why a home inspection is important and should be the first step you take after saying, "I Do"!
LOOKS CAN BE DECEIVING
It may seem like a waste of money to purchase a home inspection when the home has a lot of updates and new appliances. However, new fixtures and hardwood flooring can sometimes be a mask to distract you from hidden issues unseen to the average person. Problems with the home's structure, plumbing, and wiring can pose potential safety hazards and cost you a significant amount of money to repair, ultimately impacting your finances and peace of mind.
An experienced home inspector in Tampa FL, can help you detect updates and additions that were completed illegally (without permits) or installed wrong. That's why it is imperative you have a home inspection even if the home has been fully remodeled or is brand new construction.
2. YOU GET TO OPT “OUT”
It may be tempting to try and save money by skipping the home inspection. After all, you've been writing checks non stop as soon as you said "yes"! Even though the $300-$600 home inspection fee may seem like a large invoice, it is a small amount compared to the possible costs you may be stuck with if serious issues turn up later.
A home inspection can reveal vital information about the condition of the home. This gives the buyer an insight as to the potential added costs and repairs the house may require now, and in the future.
A home inspection is crucial if you want to have the solid facts to make an informed decision before you either proceed or back out.
3. THE POWER TO NEGOTIATE
One advantage of a home inspection can bring is the power to negotiate. A quality inspection will give you the information you need about the actual condition of the home and the type of repairs that may be necessary.
It is common for the buyer to include a clause in the contract that requires the seller to make necessary repairs before closing. In some cases, you can estimate the repair costs and request that the amount is taken off of the sale price.
Either way, issues reported in the inspection may give you the bargaining power you need to negotiate a lower price. Work with your realtor to find reasonable requests that can be made to negotiate a better price.
4. HOME INSURANCE
If specific hazards or poor conditions are found, or the City or County do not permit updates, it may be challenging to acquire home insurance.
Some home insurance carriers have different requirements and premiums based on the condition of the home. That is why it's so important to understand your options and know your limitations up front. If 1 or 2 companies only accept your home, chances are you will be paying a hefty premium.
If you want to ensure more options for insurance carriers, your best bet is to have the home inspector conduct the necessary insurance inspections during the full home inspection. In Florida, a wind mitigation inspection and 4 point inspection is required for home insurance. Try to find a home inspection company like Suncoast Certified Home Inspections, that includes the insurance forms for free with the full home inspection. This way, you can submit the insurance forms to different carriers for the lowest quote possible. If the report shows issues that prevent you from obtaining home insurance, you can use the information to bargain with the seller to repair, or ultimately cancel the contract.
5. KNOW WHAT YOU’RE GETTING INTO
The main reason to get a home inspection is to obtain a snapshot of the big picture. This overview helps you to understand the health of the home and enables you to budget out any additional fees required for updates and repairs. You will also get a chance to speak with the home inspector to gain a better understanding of the home, it's systems, and any guidance you may need. The inspector usually has a wealth of knowledge and can often point you in the right direction if
The paint color, location, or newly remodeled interior can make some turn a blind eye to the potential hazards that lurk behind the walls. A home purchase is a tremendous investment, one that can be the foundation to build a happy life or an enormous burden that can cause you to go bankrupt.
Hire the right people to help you navigate the home buying process with confidence. The licensed professionals you hire such as the realtor, home inspector, and surveyor should be well-trained professionals with experience in their field. They will be more than happy to answer any questions you have because an informed buyer is easier to work with and more likely to make a better decision when purchasing.
t is the buyers' responsibility to do research and get a foundation of knowledge before starting the home buying process. This will empower you to make better decisions along the way and avoid deals and people that could be harmful to your financial future. You can find a wealth of information online or by contacting a reputable realtor or home inspector.
Understanding as many details as possible about your soon to be home is essential to make certain your investment won't go down like a sinking ship. It is always best to think long and hard, weighing out the pros and cons before making any large investment. If you have any questions about home inspections in Florida, contact us for a free phone consultation.