Depending on the type of property you are looking to buy, the home may not be exactly as it appears upon your first impression. Hiring a reputable inspector to check over the house will save you from purchasing a home that could be a money pit.
Here’s what to look for during the inspection process and a checklist of items you should review.
What is a home inspection?
A home inspection is when a professional third-party inspector comes into your potential new home to complete a detailed overview of the significant components of the house and property.
The inspection will be done before you sign paperwork, as the sale will be contingent on a clean check.
As the purchaser, you are responsible for paying for the review, which can run you between $300 and $600, depending on the company you hire.
The inspector will be looking for structural damage, electrical issues, HVAC concerns, mold, asbestos, and more. You should also budget in case extra concerns come up that you’d like to have inspected by another professional, like mold or asbestos.
The items on an inspection checklist are all things that you may not notice on first glance, or during the showing of a properly staged home. After the inspection, you can decide whether you want to continue with the purchase of the house, depending on the results.
Finding a reputable inspector
Your realtor likely has a contact that they’ve worked with repeatedly over many sales, or you can get a referral from friends or family. If that doesn’t work for you, looking at Google, Facebook, and Yelp reviews can help you find a highly-rated and professional company.
Your particular state may have requirements for the inspector you hire, like specific licensing, so ensure you know what is required before hiring someone.
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What does an inspection include?
Here is a basic rundown of what’s included in a home inspection:
-
Exterior:
- Roof
- Foundation
- Trim and siding
- Gutters
- Downspouts
- Stucco or paint
- Garage
- Driveway and walkways
- Porches and balconies
-
Interior:
- Attic
- Electrical panels including all switches and outlets
- HVAC system, including thermostats and ventilation
- All appliances
- Plumbing including toilets, fixtures, faucets, water heater, and water pressure
- All walls, ceilings, and flooring
- Windows
- Doors
- Stairs
- Railings
- Basement
- Checking for any unusual odors
Some inspectors will include more components, and some may not check the flooring or for odors, but this is a general list. An inspection should take several hours, and you should be present during that time. If you have any questions, the inspector is a great person to ask.
It’s important to remember that inspectors can’t determine if there is anything damaged beyond the walls of the home; they can only report details of what they can see. It’s unlikely that you’ll have a perfect inspection, even in a newly developed home. Still, many issues are cosmetic and can be an easy fix.
After an inspection
After your new home inspection is complete, you can negotiate with the seller if any repairs are needed. If you feel you can handle the cost of the repairs or repairs are minor, such as a window replacement, you can choose to proceed with the purchase of the home.
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If you feel the repairs and damage are too extensive, perhaps something like structural damage, you can back out of the sale. Your future mortgage will depend on the quality of the property, so it’s essential to get the details ironed out quickly.
Purchasing a home is likely the biggest and most important purchase you’re going to make. As a first-time homebuyer, you want to ensure you’re protecting your investment and owning your new home can be a stress-free experience.
Hiring a reputable inspector and arming yourself with knowledge about the process before the inspection is some of the best tools to help protect yourself from buying a severely damaged home.
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Image credit: home inspection checklist by envato.com
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