Learn about Home Inspection from the Buyer’s Point of View
For most people, the purchase of a home is the most significant financial commitment they’ll make in their lifetime. It makes perfect sense that home buyers ensure their financial commitment by investing in a home inspection. When buying a new property, home inspection is crucial. During the inspection, an inspector will tour the home thoroughly in order to evaluate its physical condition. One important aspect to remember about home inspections and buying a home is that it’s a very important to make your offer on a property contingent on the results of the home inspection. This means that if the inspection uncovers some major problems with the property, you can withdraw your offer without penalty.
The Inspection Process: What to Expect
During a home inspection, the inspector will take a complete and in-depth look at the property to evaluate its physical condition—but note that this is very different from an appraisal. The home inspector will be able to tell you all about what kind of shape the property is in, but will not provide you with an estimate of its value.
During the inspection process, the inspector will look at everything in the home and evaluate the condition of its structure, construction, plumbing, electrical systems, and other aspects of the home, to identify whether any structures or systems need to be repaired or even replaced. The inspector will also evaluate the longevity of the home, including structural features and plumbing, electrical, and other systems, and determine how much useful life each feature has remaining. A home inspection will generally take at least two hours, but of course this is dependent on the size of the home. In general, you might expect an inspection to take around an hour for every thousand square feet of the property. Once the inspection is complete, you should receive a written report of the inspector’s findings within seven days.
Crucial Questions to Ask a Home Inspector
Before you hire a home inspector, it is wise to ask important questions to make sure you’re getting an inspector you can trust to carry out a thorough examination of your potential property.
- What does the inspection cover?
- How long have you been an inspector, and how many inspection have you done?
- Are you an experienced residential inspector?
- Are you a member of any state or national associations?
- How long will inspection take to complete?
- How much will it cost?
- How soon will the inspection report be available after the inspection is complete?
- Will you be allowed to attend the inspection?
These are all important questions to help ensure your inspector has the experience needed to thoroughly investigate the property which may become your home. Make a point of asking if you may attend the inspection—a refusal from the home inspector is definitely a warning sign, and attending the inspection is a great chance to learn about your prospective new home, first-hand.