Home inspections exist because the short amount of time we have to tour a home is simply not enough to make an educated buying decision. At an open house, you’re getting a feel for the property, then put in your offer and it gets accepted. The next step is to take a deeper look at the details before signing on the dotted line.
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While inspections are completely optional, we’re going to always be on team “have the inspection.” When compared to the financial commitment you’re making by purchasing the property, a few hours and a few hundred dollars for the peace of mind are priceless. This process can uncover major issues with the home only identifiable by someone with a trained eye. Thanks for listening to our Ted Talk, now let’s go over what you need to know before inspection day arrives.
What it is.
A home inspection is a thorough review of the property conducted by a licensed inspector—the results of which will be documented in the inspection report. During this on-site appointment, your inspector will look at the structure, electrical systems, plumbing, HVAC, and even appliances to determine their current condition and identify any potential issues. The home inspector will also provide recommendations for repairs or upgrades if necessary.
What it isn’t.
It should be noted, the difference between an INSPECTION and an APPRAISAL. An appraisal is performed by your lender to attach a market-value amount to your home. But, an inspection is initiated by you, for the the purpose of better understanding the property you’re investing in. They’re both assessing the property, but for completely different reasons.
An inspection is also not all-encompassing. You’re getting an overall look at the property from a person who knows a lot about a lot of things, but may not know everything about everything. (Think of them as general practitioners, not specialists.) They’re also limited by time, which is usually only a few hours to look at everything. So, there may still be things missed, or identified but need a deeper dive by a specialist. Your home inspection may be where you start, but not where you finish.
It covers a wide range of areas within a property, including both the interior and exterior of the home. Your inspector will evaluate the following:
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Think of a general inspection as a service built to work for all homes. Almost every home has a foundation, electrical, plumbing and HVAC, so your inspection will cover those basic items. However, you may have a property with some additions to that list, like a septic system or pest issues. Those require a separate, more specialized inspection, which can take place around the same time as the general one. For example, if you’re buying a property with many trees close to the home, you may want to hire an arborist to look at the condition of the trees and prevent future surprise issues. The same goes for an older home with knob-and-tube wiring, or structural concerns. Finding experts in these fields is going to be the way to get a more detailed look.
We already gave the Ted Talk about why you want to get a home inspection, but here are the detailed benefits:
When choosing a home inspector, there are several things to look for, these include:
To prepare for a home inspection, there are three things you can do:
If you haven’t scheduled your inspection yet, follow the advice above to find your inspector and get prepared. Your real estate agent will help schedule the right time with the sellers for the inspection to take place. Let them know what you’re thinking.
This is an exciting step—your first chance at seeing the true details of the house outside of the few minutes of your initial tour. On inspection day, get in there and go through all the details and ask all the questions—it’s worth it.