Peace Of Mind
The main objective of a home inspection is to make sure the home is for the most part a very solid and safe home. By foregoing the opportunity to have a home inspection done, you may be in fact creating additional and unnecessary anxiety and stress. By performing a home inspection, you will have the added peace of mind that you are purchasing a very solid and safe home.
It Provides an “Out”
A quality home inspection can reveal critical information about the condition of a home and its systems. This information can be crucial to purchasers to be aware of what repairs, maintenance and costs the home may require immediately, and over time. If the potential purchaser is not content with the home inspection findings, it usually presents them with one last opportunity to back out of their offer to buy.
Uncover Safety Issues
A home inspection commonly reveals issues that are common. In fact, issues such as improper electrical wiring, worn roofing, inoperable windows, and plumbing deficiencies are just a handful of the most commonly found home inspection issues. The purpose of a home inspection is not to make sure that every last thing in a home is perfect to your liking, nor is it important to determine the home has no glaring safety issues.
Forecast Future Costs
A home inspector can approximate the installation age of key systems in the home like plumbing, heating and cooling, and critical equipment like water heaters. They can diagnose the current condition of the structure itself, and tell you how long finishes have been in the home. All components in the home have a “shelf-life.” Understanding when they require replacement can help you make important budgeting decisions, and it will determine what type of home insurance coverage.
If there are major problems that are discovered during the home inspection, it maybe appropriate to renegotiate the terms of the original accepted offer. Depending on the type of financing and terms of the original contract, deficiencies from the home inspection can be used as a reason for a reduction in the price or a concession from the seller towards closing costs.