To inspect or not to inspect? Most of the time it is worth the cost - which is typically based on square footage - that you pay for a professional inspection, especially if the home is a resale. Many home builders discourage buyers having inspections on new homes as they offer guarantees for at least one year. The current state of the economy reflects a large number of builders in trouble and going out of business. Therefore a home inspection is a very wise decision even for the new homes.
If you make the choice of inspecting the property on your own you will need an extensive check list to follow. Your real estate agent will be happy to supply you with an example.
When contracting a professional inspector, it is to your advantage to accompany him/her on the home visit whenever possible. Inspectors normally will offer you valuable advice on how to fix the smaller items that may require your attention. It is also to your benefit to watch him/her inspect the attic and basement crawl spaces, the roof, basement area and other less savory tasks of the inspection. Not only does this assure you he observed these areas, but it shows you how and what to look for in case you have to enter these spaces in the future.
An inspector will check everything from light switches, plumbing, furnace and air condition, windows, foundations, sidewalks etc.. When the inspection is complete it is up to you, the potential buyer, to decide what should be fixed by the seller and what can be tolerated and/or fixed by you. There is no guarantee that an inspector will find every fault in the property. Appliances, toilets, sinks and light switches may work today but could require repair in the near future. You should consider asking the seller to include a one year home warranty to cover potential major repairs.
If you have negotiated a fair price for the property, you should expect to fix the smaller items yourself. An inspection is primarily a buyer’s way to assure himself there are no major defects left unattended prior to the closing. If you can go to the closing feeling assured there are no major repairs lurking in the immediate future, it will be a much happier experience.
I personally have purchased and lived in 15 different homes. Many were not inspected. A couple I did myself but the ones that were professionally inspected gave me less surprises while living in them. The final decision comes down to you, the potential buyer.
Guest Blogger: Jim P.
Disclaimer from Michelle A. Potter/ Denver Relocation Broker: Always hire a professional inspector!!!
