Are Home Inspections Worth the Cost?
Are Home Inspections Worth the Cost?
Before spending a large amount of money on anything, it’s typically recommended that a buyer perform his or her due diligence to make sure they know what they’re purchasing. This thinking couldn’t be more true when it comes to purchasing a home. Often one of the largest purchases of a lifetime, a home can be very costly to fix if underlying issues pop up. A good way to find out what your long term repair bills might look like is to get a home inspection before going through with the transaction.
What Does An Inspection Entail?
A home inspection should only be performed by a licensed individual. This person will spend many hours looking at different elements of the home. While the inspector should never be putting holes in walls or taking apart appliances, he or she will do their best to examine every visible aspect for signs of damage or disrepair.
Larger components that are thoroughly assessed are things like the home’s foundation, the condition of porches and walkways, and the safety of the electrical system. Plumbing, heating, and cooling systems will typically also be looked at. The stability of windows, walls, and doorways are just a few other elements that will be examined.
Some potential buyers also feel more peace of mind when they choose to include extra testing. Specialized home inspections can cover radon and mold testing for additional fees, and some can even run a scope into the sewer lines to make sure there are no obstructions. All in all, a home inspection should never cause any damage to the dwelling, so be sure to obtain the Minneapolis area homeowner’s consent before anything invasive is done.
Consequences Of Not Having An Inspection
Sometimes buyers want to save money during the purchasing process and think they can skip out on a home inspection. While it can sometimes be expensive, upwards of $500 in some instances, the amount of money you save can be astronomical.
Imagine purchasing an Edina home without having it inspected, only to realize one or two months down the line that the plumbing is about to fail. Or even worse, what if there is major foundational damage and the house shifts to the point of being unlivable?
These examples might sound extreme, but they can happen all too often if a buyer doesn’t know what they are getting into. Instead, potential buyers can utilize the information given to them by the home inspector to negotiate certain repairs or to back out of the purchase all together.
Many times an inspection will uncover simple items that need a little bit of attention, like a new door or the replacement of a few roof shingles. If the report finds repairs that are too extensive or too costly for either the buyer or seller to address, it might be in the buyer’s best interests to leave the deal altogether.
So What’s The Verdict?
In almost every instance, home inspections are worth the cost many times over again. While a few hundred dollars might feel like just one more thing to have to pay for, the time and headache it can save you is well worth it. Be prepared that sometimes an inspection might uncover a house in perfect condition without any repairs needed. If that’s the case, try not to feel like it was a waste of money. Instead, view it as an insurance policy that is just reaffirming the sound purchase you are about to make within the Minnesota real estate market.
Remember that if a home inspector wants to charge an excessive amount of money or begins taking the home apart, both you and the homeowner have the right to select someone else. The inspection should aim to meet everyone’s needs.