Why are home inspections important before deciding to buy your house?
Home inspections are considered one of the most important parts of buying and selling properties. They serve as one of the foundations of the buyer-seller relationship, ensuring transparency in transactions. Home inspections, after a few years of absence on purchase agreements, are making a comeback this year.
There was a time when sellers were not obligated to have home inspections, and it felt like skipping an extra step before closing. However, this negligence highlighted the potential issues at the final walkthrough. Home inspections give buyers a better understanding of the property, ensuring informed decision-making during the purchase agreement stage. That being said, here are some of the home inspection trends that we’ve observed recently.
1. Increase in the number of inspections. There has been an increase in the number of inspections across transactions this year. There is also an emergence of additional inspections like radon tests and sewer inspections, which indicates a heightened focus on thorough evaluation by buyers.
2. Every home has an issue. Regardless of how the house looks on the outside, assume that every house has an issue. There are times when the seller will say that there’s nothing wrong with the house and that there’s no need for an inspection. Sometimes, the buyer goes in with the same mentality only to find out otherwise. As a buyer, it is better to walk through a home with a home inspector and an agent to fully understand the condition of the house and avoid being blindsided along the way. This also helps in managing expectations and making the buyer understand that flaws are inevitable.
“Home inspections give buyers a better understanding of the property.”
3. Critical issues to look out for. Buyers also need to look out for health and safety issues, structural issues, and mechanical issues. Identifying latent defects that the seller is unaware of is the primary goal of the inspection.
But this brings us to the question: Does everything need to be fixed by the seller in order to move in? Not necessarily, but negotiations should be done. It is important to arrive at a mutual agreement between buyers and sellers as to who will be responsible for repairs. This way, fixing the homes becomes a negotiation point rather than an obligation.
I hope you were able to gain some valuable insights regarding home inspections. If you want to know more or have any questions, reach out to us by phone or email. We want to help you make informed decisions in your home-buying journey.
