A home inspection is one of the important and necessary steps before closing a deal on your first (or next) home purchase. Many will shy away from an home inspection because of cost, and likely because they don’t fully know or understand what a home inspection covers. By overlooking this common contingency on your purchase agreement, it may end up costing you more than you planned to save. Here is a Buyers Guide to a Grand Rapids Home Inspection and how you can avoid spending thousands more on your home long after you picked up the keys.
WHAT IS A HOME INSPECTION?
It would first make sense for me to lay out for you what exactly a home inspection is. A home inspection is when a certified home inspector comes to inspect the home from ceiling to floor, roof to foundation, and everything in between. There are a few exceptions to this rule. For example, a home inspector will not make holes in the walls to inspect what is behind them (inside sewer pipes, behind the electrical panel, inside chimneys–best to clarify upon hiring) . The home inspector will supply you with a report giving you estimated timelines of repairs (if any), age of appliances and systems such as HVAC (if available, and if they have access to this). There are no guarantees as to timing or costs, but an experienced home inspector can give you a fair estimate of both.
Here are 7 Questions you must ask before you hire a home inspector.
HOW DOES A HOME INSPECTION CONTINGENCY WORK?
As a realtor, I always advise my clients to include an inspection contingency. In my experience, this has always made my clients feel more confident in moving forward with their property. It solidifies their purchase decision long after the emotion of ‘loving’ the home has worn off. Similarly, it also protects my clients from that same emotional purchase. If the house has thousands more in repairs that puts them over their budget, then they can feel confident walking away or going back to the negotiating table. In this contingency, the buyer has the right to cancel the contract and/or negotiate repair costs based on what the home inspector reports. In my professional opinion it is well worth the investment.
A FEW THINGS TO REMEMBER
A home inspection gives you a zoom out vision of what it will mean in terms of renovations that need to be made on the home if any. It’s not the only thing that determines the purchase. It does help to put future costs into perspective. Some of my clients like a reno project, and others prefer to move in and not renovate at all. The season in life will determine what you are willing to take on.
A home inspection also does not guarantee that you won’t encounter any other issues in the home. It simply gives you a real time summary of the current condition of the home. So it does not make your home free and clear of any future surprise repairs.
Lastly, not every seller will be open to negotiating the price based on what’s reported, and they certainly won’t fix everything on the list. This is when you would rely on your home inspector’s experience and determine what’s most urgent to repair.
THE BOTTOM LINE
The investment you make in the home inspection is worth both the time and money. Its an up front investment to help you make smart, clear and wise decisions on your home purchase. If you are buying a brand new home, its a vital part of the process. More importantly, it will give you an idea of what it takes to maintain a home, the cost, and a healthy schedule for home maintenance. If you need a recommendation of reputable home inspectors in Grand Rapids, reach out to me. I would be happy to connect you!