Is a Home Inspection worth the money?
Updated: Aug 25, 2020
Purchasing a home is one of the biggest financial decisions you will make in your lifetime. So, even if you negotiate an amazing price on a home that's just right, you may think that a home inspection is not required. As much as saving the cost of a home inspection seems attractive, the amount you might save, could cost you thousands down the road in repairs or replacements.
Know what you're getting into before you purchase your home
May I suggest, that before you purchase a home, one of the first things you should do is have the home looked at by a professional home inspector. It's similar to when you buy a used car. Before you put down your hard earned cash, you have your mechanic put it up on a hoist, look it over and check out the functionality. In the same manner, when buying a house that is 10 to 20 times the money, why not make sure your long term investment is not a money pit. During the inspection, a home inspector determines the existing condition of the home’s major systems based on a visual inspection of readily accessible features and systems. Home inspection services focus on the performance of the home, rather than the cosmetic or design features of the home. A good extensive home inspector should examine almost everything from the roof to the foundation to every major system. The gathered data and images will provide you with a clear, simple and easy to understand home inspection report which will allow you to make an informed buying decision for the home of your dreams.
Key Inspection Areas
Roof and foundation
Insulation and Vapour Barriers
Grading, driveways, sidewalks, etc.
Prepare yourself for possible problems
A home inspector can estimate the installation age of the major systems in your home such as the plumbing, heating, cooling and water heaters. Because all appliances and systems in your home have a usable life span, it is important for you to know when they’ll require replacement so you can budget for this expense. If the problems identified in the home inspection report are too expensive or overwhelming to repair, you can always walk away from the purchase providing you have an inspection condition clause in your sales contract.
For more minor problems that are discovered, you can request that the homeowner repair these problems or you can negotiate for a lower purchase price based on these areas of concern. The small amount you spent on your home inspection will certainly pay for itself just on the minor issues found. Even if the home you are looking at reveals few issues, just understanding the condition of your purchase, that it was a good decision and you know what to expect in experiences down the road, provides the peace of mind and restful sleep we all deserve.
A home inspection isn’t an expense that comes with buying a home; it's a small investment to help protect your interest. As a home buyer it’s your duty to know what you’re buying and to prepare for the future. Thankfully, you don’t have to do it alone if you hire a professional home inspector.