Home Inspections

The Home Inspection

Before you commit to buying a home, it is important to have a
thorough home inspection completed. This vital step will tell you
a lot about the condition of the house you are thinking about
buying.

After you've found a home that you want to purchase, make an
offer on the house contingent on it passing the home inspection.
If the home passes the inspection, you will have peace of mind
knowing that you are making a wise investment. However, if the
home inspection uncovers some problems with the
house, you will have time to negotiate with the seller to fix the
problems, lower the selling price, or even cancel the offer on the
house.

Home inspection costs can vary greatly depending on a number of
factors including the age of the home, square footage, number of
rooms, location of the home and yes, even the sales price. A
thorough home inspection can take five to six hours. While you
may find quotes in the $175 to $250 range, home inspection prices
may be higher if the inspector devotes more time and effort to
each inspection.

Don't skip this step!

The Home Protection Warranty

Ask the seller to include a 12-month home warranty for the house
at closing. A home warranty will protect you in case problems
arise during the term of the warranty. For instance, the home
warranty will generally cover problems such as defects,
malfunctions, and breakage of the heating and cooling system, the
plumbing and pool and spa. It can even include appliances like
the refrigerator, stove, and washer and dryer. .

While there may be no apparent signs of problems when you buy the
house, the comfort of having a warranty that will fix those little
but expensive problems that are bound to occur is definitely a
benefit. The minimal service charge you pay will almost always be
many times less than the cost of paying for the repair yourself.

Home warranty quotes also vary based on a number of factors
including age of the home, and the type of items covered under the
warranty. For example, the warranty will cost a little bit more
if you want to cover your pool and spa, or your large appliances
or your built in items like the garbage disposal and microwave.
Typically, home warranty quotes are between $350 and $600.

Homeowner Insurance

Homeowner insurance is similar to health insurance or car
insurance. Your home and most contents are insured for a
specified amount in case of events such as fire, burglary, water
damage, etc. Homeowner insurance is necessary and is required if
you have a mortgage on the property.

Before you choose a home insurance plan, be sure to get quotes
from various insurance agents. Find out how much insurance
coverage they would recommend and what that insurance actually
covers. Are they offering the same amount of coverage?
Besides covering the structure of the house, what else is covered?
Go back and make sure you are comparing the quotes equally to make
sure you get the best coverage for the best price.

One of the best things you can do for yourself, and it doesn't
cost a whole lot more, is to choose a policy that covers the
"replacement value" of your household items. This means the
insurance will pay you the amount you spend to buy new items to
replace the lost, damaged or stolen ones. No money will be
deducted for use, depreciation, etc.

How much will home owners insurance cost, you may ask? Again, the
price varies depending on the size and age of the home, where you
live, the type of building materials used, how much coverage you have
for items inside the home, and more. The average cost for home
owner insurance is about $700.

Taking the time to have a thorough home inspection, choosing a
reputable home warranty company and making sure you're house and
household goods are covered by your home insurance policy will
give you peace of mind as you sign the final closing papers and
take ownership of your new home.