Lessons Learned Buying My First Home
Lets be real, buying a new home costs a lot of money. Parting with that large sum of money is a huge commitment, and you should protect that investment by getting your home inspected prior to making an offer on the home. If you happen to be building your home I would suggest getting a multi-phased inspection during the building process. Most houses that are up for sale are dressed up to portray a pristine condition highlighting their best features and concealing potential flaws. A professional home inspector can uncover problems you may have overlooked or simply not seen. I as lucky when buying my home and the inspection went great, but I had a buddy that was selling his home and found huge issues with his foundation and was kind of stuck getting that fixed before he could even sell his home.
Everything Might Not be Okay
Most people who are buying newer properties which were recently constructed might not see the point of getting it inspected (however most states require it …I think…not sure). Remember the age of the home should not be a reason to waiver prior inspection. You might uncover serious troubles which might cost you a lot in the long run trying to remedy. The problems might be
- poor wiring
- heating and cooling systems
- roof damage
- termites or other bug/rodent issues
- insulation issues
- there are just so many things that could be wrong..
Saves on Unnecessary Expenses
When you compare the cost of carrying out a home inspection and contrast it with rewiring the entire home for instance, you discover it was worth it. You for sure do not want to walk into a money pit, and be left holding the bag for a jacked up home that is in need of a lot of repairs.
Another good reason to have a home inspection before buying a house is the opportunity it provides to negotiate with the seller for a lower price. Information received during the home inspection can help you reason with the seller on its price. There are cases of purchase contracts which contains a clause which deems the transaction null and void if the home inspection identifies several major problems.
Make The Seller Do The Repairs or Walk Away
Apart from being able to negotiate with the seller for a lower price, you can also demand they effect the necessary repairs if an inspection reveals future troubles. In the case the seller might not be in a position to carry out the repairs you can estimate the average cost of effecting them and deduct it from the cost of the house. This is a great bargaining tool to use when negotiating on the price. Just like my buddy with the foundation issue, he had to fork over the cash to have it fixed before he could even sell his house.
Have Full Knowledge of The Home You Are Buying
An inspection is the best way to know the full condition of the home without falling victim to unexpected surprises down the road. A little research at the onset can save you a lot of time and money in the future. Your inspector should give you a full written and verbal report along with photos and videos of what they found. This is a great tool for you to know what you are buying and also to keep for the future if you go to sell the home yourself.
Things To Consider
It is highly advisable to free up some time from your schedule and attend your home inspection process. The practical experience you will learn from the inspection expert is key. The inspections might take two to five hours depending on the size of the home or the intensity of the inspection. Ensure that the inspector is not the same person entrusted with carrying out the needed repairs as this creates a conflict of interest which might influence the findings in the inspection report. A Home inspection for new home assures any buyer that they are making the right choice.
I would suggest you use an actual structural engineer to carry out the inspection. You will have a much better inspection and a piece of mind that your home is as safe as possible.
Here is what you can expect from a home inspection. This quick video shows you some great footage.