Contest winners used a lot of imagination with their decorating.
Caron Jones of Burlington, North Carolina is an independent realtor and real estate investor. In the following article, Caron Jones explains that buying a home is one of the biggest investments that most people ever make, and skipping a home inspection could end up being costly. A thorough review is not only essential for one’s peace of mind, but it also protects buyers from potential pitfalls and financial headaches down the road.
A pre-purchase home inspection is a natural step for most homebuyers, but many don’t know why it is actually necessary or how much it protects their investment.
Professional, third-party home inspections are the only way to ensure that a new home is truly worth the venture. These “home check-ups” will ensure that potential buyers know the true value of the property, its condition, and how costly it may be to properly maintain it. They can even be used as a negotiation tool before closing the sale, or as an “out” if the buyer isn’t truly happy with the results of what was found during inspection.
Below, Caron Jones of Burlington, North Carolina dives into all the benefits of organizing a proper pre-purchase inspection, along with the potential repercussions of forgoing one.
Buyer Beware!
Every real estate industry professional will say the same thing when it comes to purchasing a new home - a home inspection is
100% necessary if a reputable professional has not done one within the last 6 months.
Reveals the True Condition and Value of the Home
Caron Jones of Burlington, North Carolina notess that one of the main purposes of a home inspection is to evaluate the current condition of the property while determining the validity of its value. Inspectors are trained to recognize potential hazards or concerns that the homebuyer may not be aware of. With the extensive experience that helps these professionals understand the value of each element in a home, a home inspection will certainly illuminate whether a home is overpriced, or if a major depreciating asset is found.
Home inspections also give the homebuyer confidence that the building is secure, well-built, and free of any potential hazards. Many, if not all, existing problems will be identified by an inspector that may otherwise be missed by the buyer or agent; the only way to make a worthwhile investment is to get all the facts, and a home inspection provides them.
Helps the Buyer Understand How to Maintain the Home
Every home will have different maintenance needs based on its age, structural design, location, and how the former owners maintained it. However, Caron Jones explains that homes don’t come with instruction manuals. An inspection is a great way to thoroughly understand exactly what repairs the property may require, both now and in the future, as well as how costly regular maintenance will be.
Useful as a Negotiation Tool
Caron Jones of Burlington, North Carolina reports that the home’s health is a key component of negotiation for most homebuyers. Once the seller and buyer are on the same page about what improvements need to be made in and around the house, this information can be used to lower the purchase price. The buyer can even stipulate that the seller must be responsible for completing the needed repairs before the deal can be closed.
Provides a Legal Right to Walk Away
After an offer has been made, the buyer has already initiated a commitment to accept the home in its currently valued condition. A home inspection provides a way out after the purchase process has already begun; if the buyer is uncomfortable with the results of the inspection, they can back out of the deal risk-free.
Consequences of Forgoing a Home Inspection
Caron Jones of Burlington, North Carolina also says that home inspections may end up costing several hundred dollars, depending on location, which is why many homebuyers end up foregoing the process. During a housing crisis like we have seen as of late, many people feel that skipping this step can expedite the process and help them finally secure the property they wish to own. However, this is truly not worthwhile enough to risk the following
repercussions of skipping a home inspection.
Risk of Unknown Safety Hazards
Professionally trained home inspectors will perform an extensive evaluation of the property over several hours - this is the only way to identify all of the potential safety concerns in a home. Poor wiring, carbon monoxide hazards, fire dangers, and structural issues are all important factors to be aware of before purchasing.
Caron Jones maintains that forgoing a home health-check puts the homebuyer in a position where they could be unaware of potential safety concerns, and they may be putting their family at risk without knowing it.
Expensive Repairs May Be Hidden
In addition to hidden safety hazards, there may also be expensive repairs that aren’t noticeable from a simple tour of the property. It is not uncommon for the cost of unforeseen repairs to be over the thousands - most homebuyers are not prepared for such an unanticipated financial setback.
Final Thoughts
Clearly, home inspections are a crucial part of buying a new home. Without them, homebuyers will be risking the health and safety of their family, their financial stability, and their long-term contentment with the property.
At a glance, it may seem like an unnecessary expense, but it's truly a small price to pay for the peace of mind that comes with knowing the true condition of one’s potential future home. Don't let the excitement of the purchase cloud judgment - take the time to get a professional inspection and ensure that you're making the best decision for your future.
