When buying a home, “inspection” is one of the most common conditions included in the Agreement of Purchase and Sale. For the vast majority of homebuyers, the completion of their real estate purchase is contingent on a home inspection being performed.
The home inspection is a non-invasive, visual inspection of a property, carried out by a qualified professional. Home inspectors are trained in the evaluation of major household systems, including plumbing, electrical, HVAC, foundation & roof. Your inspector will provide a written report outlining the condition and functionality of each of these systems.
Depending on the size of the home, an inspection will take 3 to 4 hours and can add approximately $350-$800 to your costs. No drilling or digging is performed. The home will be in the same condition following the inspection as it was before it began.
Purpose of a home inspection
A home inspection has two major functions. First, it clearly identifies any significant defects that can affect your buying decision. Second, it points out components in need of near-term repairs, or those reaching the end of their functional life.
Why do I need a home inspection?
As a buyer, an inspection can help you to decide whether or not a home is worth buying. Both older and newer homes will generally turn up a list of repairs, or “deficiencies”. Some issues are immediate, while others may not cause problems for a number of years, if ever. Reviewing your inspection report with an experienced Realtor can help you decide if any of these repairs are serious enough to sway your buying decision.
Knowledge is power, and a home inspection will help you learn all you can about your prospective purchase. You’ll have the opportunity to ask questions and learn the locations of major systems and components throughout the home. You’ll also be able to assess whether you want to invest in any upgrades or repairs that might be needed.