Don’t Forget a Property Inspection

| February 12, 2009 More

Creative Commons License photo credit: AchimH

Are you in the process of searching for a home? How about an investment property? If you answered yes to either one of these questions you know how big of an undertaking this can be. That being said, this is no excuse to overlook important details. No matter what type of home you are buying you need to make sure you have it inspected before moving forward with the final paperwork.

What are the advantages of paying for a property inspection? First and foremost, you may learn about problems you cannot see with your own two eyes. For instance, would you know how to spot a cracking foundation? How about a roof that needs replaced? An inspection will turn up everything that is wrong with a property; no matter how big or small. In the end you will have a better idea of whether or not to buy the home, to walk away, or to renegotiate with the seller.

Some people skip the inspection because it ?costs too much.? This is not a good excuse to use. Generally speaking, you should be able to hire a reputable home inspector for approximately $500. While this is a lot of money you need to realize one thing: this could save you much more in the long run. For instance, if your $500 inspection turns up a bad roof that needs to be replaced at the cost of $5k you can see just how much you are saving. With this knowledge you can either ask the seller to replace the roof before closing, or have them take $5k off the cost of the home. All of a sudden the $500 for the inspection does not look that bad, does it?

It is important that you have a property inspected before buying. This is the best way to ensure that you know the good and bad of the home.

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