"Why do I need a Home
That's certainly one question you are asking yourself when you are buying a House.
"Why would you have to spent hundreds of dollars if it is not required ?"
I know what you are thinking : Money !
House's price, Down payment, Closing cost, Mortgage Rate, etc., Why add more expenses on the process ?
The Home Inspection will provide you the chance to identify any Major Issues before the closing.
Whether each problem is a safety issue, a major defect, or minor defect, they will still all cost you money in the future.
And components like HVAC, Roof, Foundation, Electrical, Plumbing, Windows, Appliances, etc. can be very expensive to repair or the replace.
What is next ?
Now, once you get the report of your home inspection, several options will be available to you:
- If the problems are too significant or too expensive for you to fix, you have the opportunity to walk away from the purchase as long as the purchase contract has an inspection contingency.
- Or, you can ask the seller to fix them, negotiate the house's price or give you a cash credit at closing to fix the problems yourself. This is why a home inspection can pay for itself several times over.
So, Does it Worst It ?
When you look at the Inspection fee, roughly $350-$600, compare to the price of the house you want to buy, a home inspection will cost you a portion of the price, a little bit of time and money, but in the long run, you'll be glad you did it.
The inspection can reveal serious and major problems, so after the Inspection you may be able to:
- Get the current owners to fix things
- Get you the opportunity to renegotiate the selling price,
- Have a better understanding of your house
- or Prevent you from inadvertently buying a money pit.