If you're buying a property, it's important to have it inspected so that you're aware of its condition and any work it needs. The following are six things to know when having a home inspection done on a property before buying it.
1. Foregoing a home inspection is risky when you're buying a property.
You might not technically be required to have your home inspected. However, it's risky to forego a home inspection. You won't know as much about the property before buying it if you haven't had a thorough home inspection done. This could lead to unpleasant surprises regarding the condition of the property down the road.
2. It's a good idea to be present during the inspection if possible.
Try to schedule the inspection of the property you're interested in buying for a time when you can be present. If you're present during the inspection, you'll be able to ask the home inspector any questions you have. You'll also be able to address any concerns you have about the property with the inspector. Being able to talk to the inspector during the inspection makes it so that you get more information and clarification out of the inspection.
3. Your mortgage lender probably requires a home inspection.
If you're borrowing a mortgage loan from a financial institution to buy the property, you'll probably have to have an inspection done. Lenders generally require an inspection or appraisal before loaning the money to buy a property.
4. A home inspection may uncover repair needs and added investments you'll have to make in your property.
As a home buyer, it's important to prepare mentally for a home inspection by understanding that the inspection might uncover costly repair needs. This might mean that living comfortably and safely in the home might cost you more than you expected.
5. Home inspectors look for many issues like water damage, electrical system malfunctions, and plumbing problems.
Home inspections are thorough and detailed. During an inspection, the inspector will go through a long checklist of issues to look at. These will include checking for water damage, checking the electrical system for malfunctions and hazards, and making sure that plumbing fixtures work properly.
6. Home inspectors don't generally pay attention to cosmetic issues.
While a home inspection is thorough, homebuyers need to know that their home inspectors won't look at cosmetic issues at all. Home inspections generally only involve looking at issues impacting home safety and functionality.