With current real estate conditions favoring sellers, many homebuyers feel they must forego a home inspection to compete with other buyers. A buyer must be decisive and act quickly when homes are in high demand. If you purchased a property without hiring an inspector, it’s not too late. Here are several reasons to order a post-purchase home inspection.
Traditionally, when a buyer makes an offer to purchase a property, the contract includes a home inspection contingency clause. The clause provides the buyer with a way out of the contract if significant problems exist within the home. The inspection contingency protects the buyer, but unfortunately, many homebuyers today feel they need to exclude contingencies to have their offer considered.
Understand the Condition of the Home with a Post-Purchase Inspection
After closing on a house, the property and its flaws are the new owner’s responsibility. Even though you can’t request that the seller make repairs, it’s still helpful to understand the exact condition of the home.
A post-purchase inspection will provide the buyer with information about the systems and components of the home. Your inspector will assess the roofing, foundation, attic, HVAC, plumbing, and other interior and exterior features.
After the inspection, you will receive a detailed report of the inspector’s findings. The report will describe issues and safety concerns in the home. You’ll have a clear picture of the actual condition of your property.
Mitigate Health and Safety Issues
Your home inspector will identify problems threatening your family’s health and safety. For example, older homes were often built with materials that are now known to be unsafe. Asbestos insulation, lead-based paint, and polybutylene plumbing pipes are a few of the materials you’ll want to know about.
Whether there is mold growth in the home, loose handrails by the stairs, or overheating electrical outlets, the inspector will find the issues and note them in the report.
Budget for Repairs with a Post-Purchase Inspection
After the inspection, you’ll have a complete list of every problem and concern. Using your inspection report, make a repair plan and create a budget. Most homeowners prioritize projects that improve the safety of the property before moving on to cosmetic issues.
The information in the inspection report will help you create a long-term plan for repairs and renovations.
While the inspection may seem expensive upfront, it can help you save money over time. By discovering issues and having them repaired sooner, you’ll avoid more extensive, costly repairs down the road.
A thorough home inspection helps you plan for remodeling and renovation projects. An inspection will find underlying issues, like signs of water damage on the walls or rotting floor joists.
Most homebuyers feel excited to get started on improvements to personalize the house. Perhaps you plan to overhaul the small kitchen and create your dream kitchen. If the inspection shows the foundation and floor supports are in excellent condition, you can move forward with the kitchen remodel. Otherwise, you might renovate and later discover the floors are deteriorating, forcing you to undo your brand new kitchen remodel.
It’s smart to order a home inspection, even if you have to wait until after closing on a property. Understanding the home’s condition helps you prepare for maintenance and upkeep to be a better homeowner.