Before you purchase a home, hire an inspector to make sure the structure is sound and there aren’t any defects.
An inspection helps buyers identify serious issues with a house, condo, townhouse or other type of home. Some lenders require home inspections before they’ll approve closing on a mortgage loan. Professional home inspections aren’t always a required part of a purchase contract; they’re a smart part of buying a home and a property investment.
Whether or not a loan officer insists on an inspection, getting a home inspected is to your advantage. No one wants to find out there’s something wrong with a property after they’ve signed the papers.
Here’s what you need to know about home inspection, followed by a handy home inspection checklist:
Not all home inspections cover the same points
There will likely be numerous home inspection companies and professionals to choose from when you’re buying a home. As you look for an inspector or consider inspection company referrals, keep in mind that not all inspections cover the same points.
When inquiring or interviewing inspectors, make sure those you’re thinking of hiring will inspect the inside and outside of the property. Inside, an inspector should look for leaks, fire hazards, the health of the house systems and the life of the water tank. Plumbing and wiring inspection are essential to make sure these systems are up to code. Inspectors should look at a home’s ventilation systems and smoke detectors. If the home has appliances, they should be tested.
Outside, inspectors should check for cracks in walls and the foundation. Missing siding, damage to the roof and cracked woodwork are all issues that may point to structural problems with a home.
Most general home inspectors won’t check septic systems or insect damage. These are points that you should hire specialists to address.
Buyers should choose their own home inspector
As a buyer, you can certainly negotiate who pays for a home inspection. However, consider that sellers paying for an inspection may want to choose the company themselves.
It’s in your best interest to choose your own inspector when purchasing a home. This may mean that you’ll have to pay out of pocket for the inspection. This service is not usually included in the fees a lender will roll into a loan.
The cost for a home inspection is typically a few hundred dollars. If you need in-depth inspection of a property, such as a review by a structural engineer, prepare to pay much more.
In some states, a home inspector must have a license. If you aren’t sure where to look for a licensed home inspector, your real estate agent should be able to offer a referral. It’s a good idea to verify any inspector’s license to make sure you’re hiring someone qualified.