Why to get a home inspection ?
While home inspections may not be the most fun portion of your home buying journey, they are essential and help prevent you from making a purchase that could potentially burden or damage your wallet or health in the long-term.
In a competitive housing market, there can be pressure to make an offer right away without conditions. However, no matter how competitive a market may be you should never skip out on things designed for buyer protection such as doing pre-mortgage due diligence which includes performing home inspections.
While landlords and agents may be friendly, the property that you are potentially buying may not necessarily be in its best shape at purchase. Your landlord or agent will only show you around certain parts of the house or apartment so don’t jump into buying the property without doing any further inspection yourself! You need to keep your eyes open for red flags like leaky roofs and broken appliances.
5 Reasons to Invest in a Home Inspection.
In fact, there are five reasons that a home inspection might just be the best $300-$500 you ever spend.
It provides an “out”
When you’re buying a house, it’s best to remain cautious. While the house may appear to be perfect at a first glance, there could be structural problems that only get revealed later on which can turn out to be some serious money pits. One way to avoid this from happening is by hiring a home inspector before purchasing a new property. A certified inspector will assess the property for potential problems that may have been overlooked by others, revealing any large and/or hidden issues which can often provide an “out” for the buyer.
Confirms safety and structural integrity
Having a home inspection can alleviate certain concerns you may have before moving. An inspector will review every nook and cranny inside and outside the home to ensure that it is safe and sound!
During an inspection, the inspector will review everything from the attic to the furthest reaches of the basement and will look for things like mold growth, holes in the chimney and unsafe wiring.
Reveal illegal additions or installations
Home inspections are necessary to help you in determining whether or not a house is worth purchasing. One reason for this is hidden additions and DIY installations can cause trouble down the road if the seller did things like wire the house improperly or used substandard materials. If something were to happen, your home insurance would null and void as it was established beforehand any issues discovered during inspection results due to alterations made by the previous owner.
Forecast future costs
Homeowners have to really be on top of their game to make sure their house stays up to the standards. Even though you do the regular cleaning, there are even more additions that are required! This includes things like replacing a water heater every 6-10 years, or touching up an old roof every 20 years. Your home inspector will be able to tell you if your furnace is functioning properly, which would influence when it would need replacement by letting you know how long it can last!
Peace of mind
Finally, you should get a home inspection to complete your home search and reduce the risk of a future headache. Getting into a large financial commitment with your home is likely to be something that will last for many years and require costly repairs down the road if you don’t manage to do it right the first time around! In addition, buying a house is likely to be something that will take close consultation with an expert like Steve. The good news is there are some really inexpensive ways to avoid facing extensive problems by getting into this conversation with Steve who could easily help save you thousands of dollars on future-envisioned repairs!
Work with Mortgage Broker For More Options
Powered by Dominion Lending Centres, Concept One Financial Group is a team of mortgage professionals work for our customers – not the lenders – to ensure our customers receive the best rates and products available in today’s marketplace. Whether they are looking to purchase their very first homes or upgrade to a new home, mortgage renewal, refinance for equity take out, purchase investment properties.
Our lending solutions are catered for the conventional, self-employed, new immigrant, and non-resident; residential and commercial mortgages; Insurable and uninsured. As is customary in the field of Canadian mortgages, we deal with big banks, smaller lending institutions and private lenders. Each client’s financial needs differ, which is why we work with a variety of lenders.