Home inspection is one of the most important steps while purchasing any real estate. It ensures that the home is safe to live in and worth your money. It’s important to inspect your property for any hidden problems or structural defects so that it doesn’t turn into a money pit.
Here’s a list of some of the common home inspection mistakes one should avoid:
1) Choosing the wrong inspector: While hiring a home inspector, keep in mind that you are choosing a professional who will do a full physical check of your investment. Choose someone who is trustworthy and competent. Most buyers generally choose on the basis of who charges the lowest. It’s better to look for options and check the credentials, licensing and affiliations of the inspector.
2) Not getting a property inspected: It’s important to gather complete information on the builder, its property and value of the property. Just because a home has passed all legal formalities doesn’t mean it is problem free. Make sure to get everything (inside and outside) inspected. Do not skip the inspection just because the property looks good or is newly constructed. Builders or contractors may sometimes overlook things. For your assurance, ensure everything has been inspected before you purchase.
3) Not participating or being present during the inspection: It is okay to let the inspector do his job but it is also important to meet him regularly, discuss about your checklist, and visit him at the property to check firsthand if the issues discovered are big or small so as to avoid unnecessary spending later on.
4) Ignoring the inspector’s recommendations: Sometimes, issues found are not taken seriously due to the cost factor. These issues may also get ignored during negotiations. As a buyer, it’s important to consider all issues and take a follow up on items discovered during the inspection before investing. It’s always better to be safe than sorry.
5) Not using home inspection results as a negotiating tool: A good inspector will always guide you on what can be replaced. Try to consider such points while negotiating repairs and price reduction from the seller. Home inspection is not just a step in home-buying process; you may use the inspection results to your advantage and negotiate a better deal.
6) Ignoring the Exterior Problems: Most of the home inspectors only consider inside of a home missing on problems beyond the interiors. This may leave you tackling with exterior problems like fences, rooftops etc. Repairing these elements at a later stage will cost a lot.
7) Not making a checklist: Home inspectors usually don’t inspect pipelines, tanks, sewerage systems. Add such items to your checklist while buying a home. If your inspector is unwilling to inspect these elements, it’s better to look for another inspector.
8) Relying on Real Estate Agents for Referrals: Real estate agents often provide referrals for home inspectors so as to help clients. But relying on real estate agents for recommendations may not be the best bet. These home inspectors usually ignore faults at home to return a favor to the agent. It’s good to do research and select your agents wisely.
9) Not doing enough research: Rushing to a decision may prove to be harmful at times whether it is while buying a home or getting it fixed. Do your research thoroughly to avoid any home inspection mistakes.
10) Signing the contract before the inspection: A home buyer can exercise the right to have a property inspection at any stage during the sales process. There is no need to wait till a contract has been signed. Remember, an offer can be negotiated as per the outcome of an inspection report.
It is important and essential to complete your research, make wise decisions and take adequate measures to find a competent home inspector and avoid unnecessary chaos and expenditures while buying a home.