A Beginner’s Guide to Buying and Inspecting a Home
The average period that a first-time buyer owns real estate before selling it and moving on to the next house is around eight years. It’s usually sufficient for equity to be built up in the home to make it worthwhile to sell.
However, upon selling the home, any issues that did not get resolved when you bought it will likely remain, and the new buyer may want them fixed on your dollar. That could have a significant impact on any equity you may have had.
So, to help you understand the process of inspecting a home before you purchase it, SETX Home Inspections has put together a beginner’s guide to buying and inspecting a home. By following this guide, you, as a home seeker, can understand the benefits of organizing an inspection.
Getting Started
Worth considering: The cost of the inspection is a small fraction of what the inspector will potentially save you. Also, consider once the typical option period has lapsed, your earnest money gets locked in on a standard residential contract.
It means, once the purchase documents get completed, any issues with the property you bought are yours to solve. Besides, the insurance company will expect you to resolve the problems if there are significant deficiencies in the house.
For example, they may not honor a claim on a leaking roof that was purchased that way. You would then have to make a significant repair in your first few years of ownership if something like that were to exist on the date of purchase.
Commit to the inspection: While most lenders do not require an inspection to be carried out, you should insist on having one to protect your investment. Talk with friends, family, coworkers, and anyone that has had a home inspected in the last five years as they can provide valuable information on the whole process.
Research inspectors: Investigate the inspectors in your area and talk with them. Ask the inspector what the process looks like and what services they are going to perform for you. Getting someone who doesn’t have time to explain the process during your initial call is an indicator of possibly a rushed inspection or someone too busy to take the time to treat you like a valued customer.
Shortlist inspectors: Suppose the inspector does not offer to perform a post-inspection discussion with you about their findings, you may want to consider talking to another inspector before you commit to one. Also, watch out for inspectors that act like salesmen and try to sell you additional services.
Hire an inspector: Fifteen to twenty dollars difference from one inspector to the other shouldn’t influence your decision. You are about to make one of the largest investments in your life when you buy your home, so make sure you do not go with the cheapest option.
Next Steps
Attend if possible: The inspection process will help buyers become aware of any harmful issues, and it would help if you were present during the investigation. The inspector will also point out potential issues with specialty items on the property.
Resolve issues: After an inspection, discuss the challenges with your inspector and realtor to determine the best course of action to take. Remember, if you ignore the inspector’s findings and don’t get the repairs made before a purchase it could prove detrimental.
Advice From The Pros
I try to inspect each house as though I were buying it, which ensures that I’m thorough and have given consideration to any potential issues. Then it’s a simple matter of adequately conveying my findings both verbally and in written form via the inspection report.
I also ask the buyer crucial questions to fully understand any related systems on the property that can affect a buyer’s pocket down the road. Sometimes those other systems can add more cost, but only as a result of the additional time I’m going to spend on the inspection.
At SETX Home Inspections, my goal is to exceed your expectations. As the go-to expert in Beaumont, Texas, for all your home inspection needs, you can feel confident about investigating a property with me.
My services include seller home inspections, home buyer inspections, phase inspections, septic system inspections, pre-warranty expiration inspections, well water lab testing, and commercial property inspections.
Visit my website to learn more or contact SETX Home Inspections today.