When it comes to buying a new home, or simply saving as much as possible on homeowner’s insurance, there are few things that can help you avoid unnecessary mistakes, surprises, or regrets like having a professional home inspection done.
There are a number of important ways that home inspections can alert you to existing problems or prevent future problems. A quality, thorough home inspection can be a tool to save you money, stress, and regrets.
Here are the top 6 benefits of a home inspection that can help you avoid making any mistakes or missing any opportunities when it comes to buying a new home.
1. Find Out About Major Problems Before Finalizing the Purchase
There’s nothing worse than that gut-wrenching feeling upon discovering major problems with the electrical wiring, HVAC system, roofing, plumbing, or other parts of your new home only after finalizing the purchase.
A standard 4 point home inspection can help you avoid any such surprises! Four-point inspections go over a home’s four most crucial systems: electric, HVAC, roofing, and plumbing. It gives you a good assessment of the current condition of these systems and any recommendations for repairs or upgrades that would improve the safety or value of the building.
You can legally walk away from a contract to buy a home after a home inspection reveals significant issues. Thus, home inspections are an important backup safety plan to prevent being unknowingly sold a home you wouldn’t really want to buy – “if you had only known.”
2. Get a Thorough Understanding of the Building’s Overall Condition
A good home inspector is going to follow a very thorough, detailed home inspection checklist. Depending on which type of inspection you order, this can give you a thorough understanding of the current condition of practically every element of your prospective new home.
A full, comprehensive home inspection will give you the most information. But there are other types of home inspection, too, that dig down deeper into specific areas.
For example, you can inspect specifically for wind mitigation ability, radon gas, wood-destroying organisms, and more. And if you order an infrared inspection, the inspector can see into hard to reach cavities and crevices of the building to gather even more information.
3. Get Leverage to Renegotiate the Deal After Finding Flaws
But the only reason to know more about a building’s condition isn’t just for general knowledge or to be able to get out of a deal. It can also act as “leverage” to help you get a better deal.
Many times, when serious issues are discovered during a home inspection, the seller must either lower the price to compensate for the buyer’s expense in fixing the problem post-purchase OR agree to correct the problem pre-purchase at his/her own expense.
As they say, “knowledge is power.” Once a problem has been detected, it is completely reasonable and within your rights to renegotiate the terms of sale of a new home.
4. Be Ready to Make Minor Repairs & Important Upgrades
A home inspection report yields a lot more than just items that could break a deal or improve one. The fact is, there are always some issues with every home, and many of them are too minor to affect the selling price or tip the balance as to whether or not you go through with a purchase.
But the report is still valuable. It may indicate areas where your new home can be improved in smaller ways – and the cumulative effect can be big. You can use the report, to a certain extent, like a repair and upgrade checklist. And you can take months or years to complete the whole list, so you don’t have to be in a hurry, necessarily.
5. Get a Good Idea About “The Lay of the Land”
With all the focus on the building itself, don’t forget about the lot. A home inspection can also investigate the land. You may want to know if it has good drainage, what condition the landscaping is in, or if there are signs of termites on the premises, for example.
If you are planning to improve your lot with significant landscaping in the future, put in an outdoor pool, or plant a garden, some of these lot-related issues could be important to know about ahead of time.
6. Save Money on Your Home Insurance Premiums
Think of all the money I could have been saving all these years! That’s not something you want to ever have to say if a pro home inspection could have resulted in significantly lower monthly home insurance premiums.
First of all, both your mortgage company and homeowner’s insurance provider are going to require at least a 4 point inspection. So you need an inspection just to get insured to begin with. But you can also sometimes get a lower premium based on safety and low-risk elements or based on wind mitigation credits.
These are just a handful of the ways that a high-quality home inspection can “head regrets off at the pass.” To learn more on how professional home inspections are done and what are their various benefits, or for a free quote, contact Super Inspection Pros today!