Whether you are a first time home buyer or an experienced investment property buyer, everyone needs to invest in a home inspection. While some people may feel paying someone else to do what appears to be a simple once over of the home is a waste of money nothing could be farther from the truth. Purchasing a home is a big investment and should not be taken on without fully understanding your financial obligations in the long term. Here we will cover why getting a home inspection is a must for anyone investing in a residential property.

What is a home inspection?

A home inspection is simply a visual examination of the structure and systems that operate within the home. This inspection is preformed by a professional home inspector who will examine the roof, attic, insulation, walls, ceilings, windows, doors, foundation, floors, basement and structural components. In addition to examining the structure, your home inspector will look at the plumbing, electrical, heating and cooling systems. At the end of the inspection the inspector will prepare a report for you to review outlining his findings.

What is NOT covered?

Remember that your home inspector can only report what he/she sees. This means they cannot normally cover issues such as termites or pests, engineering issues or problems that are otherwise concealed. Since your home inspector can only examine and report on things in the house, if you are purchasing appliances that are not already attached, they would not fall within the scope of the inspection. Your inspector is there to give you an idea of the home’s structural integrity, again based on what is visible. They cannot advise how much repairs will cost or predict future problems outside of the information available at the time of inspection.

Why is it important to have a home inspection?

Paying for a home inspection should be considered an investment in your future. Since a professional home inspector is trained to look for issues that you might otherwise overlook, they may spot problematic areas that suggest past damage or predict future issues. Being armed with this information before you close on the property gives you the opportunity to discuss repairs or problems with the seller who may be willing to make repairs before you take over ownership of the home. In some cases your inspector may be able to spot problems that could potentially lead to very costly repairs in the future. Knowing this in advance allows you to make an informed decision as to whether or not your dream home could potentially turn into a nightmare.

Tags: home inspection, home owner, investment property, real estate

This entry was posted on Tuesday, June 23rd, 2009 at 7:32 am and is filed under tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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