The Importance of a Home Inspection
After weeks of searching, you finally find the perfect home. While it is understandable that anyone would get caught up in the excitement of making that purchase, remember that a house isn't just a place where memories are made - it is also a huge financial transaction.
To make sure that you are making the best financial transaction, make sure you get a home inspection. Though some people decide to forego it, this part of the home buying process can save you time, money, and heartbreak.
Here are five compelling reasons why you should get a home inspection before buying:
1. What's under the wrapping?: Any house, new or old, can have issues that are not easily detected by the unqualified eye. Think about foundation issues, roof problems, or electrical trouble that can cause headaches later on.
2. Short term pain, long term gain: Buying a home is an expensive affair. It's no wonder that some people prefer to decline some steps not just to be the winning offer, but to save a few dollars too. However, home inspections don't cost that much, and in the grand scheme, if that inspection stops you from buying a home that requires extensive repairs, think of it money well spent.
3. Negotiating power: Another advantage of having a home inspection is getting the power of negotiation. Just think - if the home you really want is just a little expensive for your budget, then you can use the details in your home inspection report to bargain down to a price point that works for you. And if the inspection finds major issues, you may be able to opt out of the transaction entirely.
4. Repair time: In your offer to purchase, make sure you add a clause that requires the seller to make repairs before the deal is completed. This ensures that your house is in better working order than when you first saw it. If the seller doesn't want to make the repairs, you can negotiate a lower price that factors in the cost of those repairs.
5. Knowledge: Do you know the best reason to get a home inspection? As said earlier, buying a home will probably be the biggest purchase of your life. Don't you want to know exactly what you are getting? By avoiding unexpected issues through a home inspection, you can make your home purchase a happy one all around.
Buying a home is a decision that has the ability to impact both your financial life and your happiness. Although it may seem like yet another expense, a home inspection can show you whether or not the house you want is the right choice. Your home is a significant investment - make it the best one, too.
We would love to help you out by answering any questions you may have whether you’re a first-time home buyer or looking to refinance your current home loan. Give us a call at First Rate Mortgage in Fremont and we can help you with your home loan needs.