Home Inspection Benefits: Buying a New Home | Northeast Georgia LifeStyle

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One of the biggest investments made in life is the purchase of a home. This investment is meant to house family gatherings and BBQ’s, holiday and special occasion celebrations and even the place where children are raised and new lives are started. Memories will be made that are kept for a life-time and it is important to know what you are investing in so that these times of joy are as carefree and as void of stress as possible.

The average home inspection typically cost between $300-$500, and though the price can vary, a Home Inspection can ultimately save thousands upon thousands of dollars in the end. It’s very easy to get caught up in the rush and excitement of purchasing a new home, however, the home-inspection is a step that any good Realtor or agent would highly recommend and suggest that you not skip. Why? Below you will find some of the things that a home inspection may reveal, as well as benefits of scheduling a home-inspection as early as possible after signing a purchase agreement or contract to purchase a new home.

SOME OF THE THINGS A HOME INSPECTION CAN REVEAL

Safety Hazards
Water Intrusions around the foundation and/or the basement
Foundation flaws or problems
Condition of roof
Structure quality
Major Defects
Wiring and/or electrical problems
Plumbing problems
Termite Damage
Fire Hazards
Mold Hazards

BENEFITS OF A HOME INSPECTION DURING THE PURCHASE OF A NEW HOME

SAVE TIME

Most all lenders require property appraisals before lending money for the purchase of a home. An early Home Inspection Report can unveil problems or code violations that would disqualify the home for purchase. In some cases, these problems can be addressed in a timely manner and the transaction can still be completed. It would be very disappointing to learn a few days before expecting to close that the transaction cannot be completed. This wasted time could have been used to shop for a different home that could ultimately qualify for the lending needed to purchase.

SAVINGS

There are an abundant numbers of problems or concerns that a home-inspection can reveal about a home that may not be visible to the average person’s eye. Home-inspectors are experienced, trained and thorough in determining the risks that may be involved in the purchase of a home due to structural problems or hazards, etc. A good inspector will pinpoint problems and can offer suggestions of what it would take to deal with said problems that arise, or may otherwise not have know about.

NEGOTIATIONS

Once the home inspector has completed the assessment of the home, a Home Inspection Report will be provided. If there are major concerns that are discovered and were not previously disclosed about the property, it can open up the door to renegotiate for a lesser purchase price in lieu of repairs, or negotiate other terms with the seller for repairs. Many contracts have even fallen through and terminated. This could happen because upon inspection it is determined that the purchase would not be a wise investment, it would require to many repairs, the repairs are out of budget for the home, mold concerns could be bad for health or allergies, and the list goes on.

A TOOL FOR THE FUTURE

After agreeing to the purchase of a fairly aged home, the Home Inspection Report reveals a few concerns that the buyers were unaware of when the offer was submitted. However, the couple simply loves the home, and agrees that if the seller is willing to re-negotiate the purchase price, they can move into the home and plan to make the repairs and upgrades in the future. With the detailed Inspection Report, the couple knew exactly what they were up against and could outline a plan of action to complete the upgrades and repairs over a period of time.

CONFIDENCE IN THE PURCHASE

Having all of the details available upfront before closing on such a large investment can greatly relieve some of the stress involved in the transaction. A thorough Home Inspection Report can aid in eliminating Buyer’s Remorse by providing peace of mind about the purchase and by simply providing the additional information about the structure itself.

Home buyers should also be advised and consider a septic inspection and a pest inspection to determine if there are existing termites, etc.

Don’t be fooled and believe that if you are purchasing a new it is okay to skip the Home Inspection process. New construction homes can still have problems that a Home Inspection may reveal. Mistakes can be made, or other issues can always occur, and the cost of the inspection is minimal compared to the amount of money it can cost in repairs for something that could have been caught later down the road.

Don’t let stress and anxiety overwhelm you when it comes to the home buying process. Contact a local REALTOR to guide you through the process. It can be a fun and exciting time with the appropriate knowledge and representation by your side. If you are looking to purchase property or a home in Northeast Georgia fill out the form below today. As a licensed REALTOR I will be happy to assist in any way that I can.

Be sure to check out my post on: 10 Benefits of Obtaining a Mortgage Pre-Approval!

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