The home buying process is a long and sometimes tedious process. It is also one of the most exciting times for some people. Searching for that perfect home and finding it can make your wildest dreams come true or be your deepest darkest nightmare. The excitement of finding the house that you think is perfect can cause you to overlook some key things that can spell disaster later. Having a competent home inspector can save you money and give you the bigger picture of what is going on inside your dream home.
One of the single most important aspects of the home inspection is that it gives you the buyer the opportunity to potentially save money. The home inspection is intended to root out any existing conditions that will need repairs. These issues can range from minor and low-cost items to major and expensive conditions. Knowing these items before closing gives you the chance to negotiate with the selling party. Depending on the issue and the prices sellers can sometimes cover the cost completely or simply reduce the asking price to an agreeable amount. If the seller is not willing to negotiate then you are able to look at your budget and understand the potential costs of home ownership. It then falls on you to determine if this deal falls within your budget. Knowing your budget and the condition of the home gives you the big picture view of the home buying process.
Now that you have your budget and the bigger picture you can plan accordingly. The home inspection covers many aspects of the dwelling such as the roof, the foundation, the plumbing, heating and cooling and the electrical system. Knowing the condition of each item and its expected life span can allow you the time to save up the funds to make appropriate repairs as they come up. For example, knowing that the water heater in a home is 9 years old and lasts normally 10 to 12years gives you an estimated time left with that water heater. Now you have time to shop around and find the best price for the unit and its installation versus having the unit fail unexpectedly and having to fork over a good amount of cash for emergency services.
All in all, a home inspection is a money saving tool that you and your realtor can use to give you the best bang for your buck while shopping for a home. So choose the home inspector you think will be best able to give you that big picture and good luck shopping!