Home Inspections

Why do people buy a home without getting a home inspection? Could it because they are sadistic or they don't mind burning money. A home inspection should be on the top of your list for things to do before closing on a home. Lets explore the downside of not getting a home inspection and then discover the upside.

Let's look at some of the problems that could occur if you don't get a home inspection. The obvious problem is that something major is wrong with the house. Major problems could be that the home has structural damage, termite damage, water damage, major roof problems, grading problems, electrical problems, plumbing problems etc... There is nothing worse than buying a home with major problems and then having to pay thousands of dollars to get the problems fixed. Assuming that you can get the problems fixed. I have seen problems that can't be fixed and the home is a total loss. Don't be the next victim, get a home inspection.

Of course there are many minor problems that the home inspector could find. I am a real estate investor and every home I have bought I had inspected before I bought it. Home inspectors spend on average three hours in the home. Typically they will spend one hour outside the home and two inside. They will give you a report at the end of the inspection. Don't expect them to tell you how much repairs will cost. You will need to ask a contractor to make an estimate as to how much the repairs will cost. Once you have finished the inspection you are now armed with serious ammunition.

The upside of ordering a home inspection before buying your home is you can ask the seller to repair everything on the list or reduce the price of the home based on the repair cost. If you want to buy a $200,000 home and your repair cost are $10,000 you would ask the seller reduce the price to $190,000. Let's say you didn't get the home inspection and paid the $200,000 for the home. After a couple of months you realize there is something wrong with the roof. The contractor tells you that you need a new roof. You now are faced with paying another $10,000 for the home. Your total cost without the home inspection is $210,000 versus the total with an inspection of $190,000. How long does it take you to make $20,000 spend able cash?

Bottom line is that you must get a home inspection before buying a home. For around $250 you could save thousands of dollars and a few headaches.