You’re purchasing a home and applying for a 30 year mortgage loan. You’re coordinating moving plans. On top of that, you have to decide whether to spend hundreds of dollars more on this home inspection everyone recommends? Is it worth it? YES!
When making one of the biggest (and wisest) choices of your life in choosing to purchase a home, you may wonder whether an inspection is necessary. Investing $500 or so for a professional home inspection could save you thousands. For example, a home inspector can look inside the furnace and note deficiencies. Replacing a furnace can run $5,000 dollars. So instead of buying the home and then having to pay for a new furnace, we would ask the seller to replace the furnace for you before you close. You just saved thousands! Not to mention the dangers a malfunctioning furnace would pose to your health.
You may wonder “What exactly is a home inspection?” After you find the home you want and the seller accepts your offer, one of your first orders of business is to order the inspection. We can put you in communication with some great inspector referrals, or you can hire an inspector recommended by your other contacts. The inspection is not only a great monetary investment, but attending the inspection can be enjoyable. You’ll learn all about the home you may live in for the next 5 years or more! The inspector will help you understand for example the average age and lifespan of the appliances, furnace, air conditioning unit, siding, and roof. They’ll help show you how to use the different parts of the house, for example how to change the furnace filter or turn off the water supply. After the inspection, you’ll be much more confident and educated about what you’re getting into.
We’ll meet you and your inspector at the home for about 2 – 3 1/2 hours. Inspectors usually start with the exterior, inspecting the siding, A/C unit, roof, and gutters. You can walk beside the inspector the whole way if you would like, as he or she explains certain parts, qualities, and facts to you about your home. On the interior the inspector will check outlets, switches, water heater, furnace, and water pressure, just to list a few. You should also have the inspector to test for radon, which is more prevalent in Colorado Springs than a lot of places. When complete, the inspector will send you a full report with all their notes, photos, and any concerns about the property.
After your inspection, we review the inspection report together, and we discuss what to negotiate for. For example, you can ask the seller to fix or replace broken items before you agree to go through with the purchase of the property. If major issues were found that change your decision about purchasing the property, you may cancel the contract and have the earnest money returned to you, and we will be searching the next day for a property that suits you better!
The home inspection helps you understand the condition of the property you’re about to invest in! The cost is nothing compared to the amount it could save you if your inspector finds a serious roof leak, evidence of past flooding in the basement, or other serious water damage, just to add a couple examples. Even if the inspection is spotless with no problems noted, it is both peace of mind and educational information about your new home that you can use for the rest of your life.