Are Home Inspections Really That Important?
Every potential homebuyer should insist a property get inspected before they buy. If you have ever wondered why home inspections are so emphasized in the real estate process, it’s probably because you don’t realize exactly what home inspections (or at least a good home inspection) should cover. A typical inspection lasts two to three hours, and the inspector should explicitly note the following:
- Whether each problem detected is a safety issue, major defect, or minor defect
- Which specific items need replaced, repaired, or serviced
- Items that are passing inspection for now, but should be monitored for future problems
For homeowners, any issue uncovered with your property has the potential to lessen the value of your home — and hoping that no one notices the crack in your foundation is not only dishonest but impractical. As a homeowner, it is your responsibility to be upfront about any issues your home may have. Plus, a home inspection can be used as a contingency in a purchase offer, meaning that a potential buyer can back out of their offer, free of penalty, if a large enough issue is discovered.
As a homebuyer, requesting a home inspection allows you to have a clear look at what problems your home may have. Home inspectors typically look at exterior walls, foundations, grading, garages, roofs, plumbing, electrical, HVAC, water heaters, kitchen appliances, laundry rooms, fire safety, and bathrooms, giving you a crash course in home maintenance and safety requirements. If any issues are detected, you gain some negotiation power with the homeowner — you can request they fix the problem, reduce the selling price, or give you cash so you can fix the problems yourself. Or, if the house is more trouble than its worth, you can walk away from the purchase.
Want to know what else is vital in the real estate process? Contact Dan O’Reilly at O’Reilly Team to learn more about real estate and how to buy or sell a home.
