Warning: not Having your Home Inspected Could Cost you

by : Branden Schroeder

When buying a new (or newer) home, buyers often assume that, since the construction is new (or relatively new), there should not be any problems with the building. Unfortunately, skimping out on a home inspection could cost you a lot more than what it costs to have it inspected. What the inspector finds could have a significant impact on your real estate transaction.

Your prospective home should always be inspected by a reputable home inspector. Realtors may recommend inspectors for you, but often it's best to get in contact with the Better Business Bureau and have an inspector recommended to you.

Having the inspection done, you'll be able to find any areas of concern or not up-to-code. It is often best to have the inspection done BEFORE the transaction is complete, as the results of the inspection may indicate repairs that should be completed before moving in. If you can't have an inspector come to the home before the transaction is complete, make sure you have it addressed as part of the transaction in writing. Also, you may be able to work with the seller of the house on negotiating repairs, or re-negotiating the offer with your Realtor based on the findings in the inspection.

A good inspector will take his time with the home inspection, and while they are inspecting you should avoiding bothering them. Although it's not necessary to be there during the inspection, it's a good idea to show up at the end for the written report. The inspector will give you a detailed written report after the inspection is complete. This will include everything from wiring and foundation and walls, to plumbing, roofing and doors and windows. In the inspection they will highlight areas of concern, which will give you a clear indication of whether you're getting what you're paying for.

Home inspectors examine a building - they don't determine its market value. If you are interested in the market value of the structure, it's best to have it appraised. Home inspectors can highlight future issues or items that may not be up to building standards, or need addressing. When buying or selling, it's often best to have your home inspected. This can be useful for future reference and a good document to have on your new home.