Home Inspectors Help Avoid Money Pitfalls
SOURCE: The Toronto Sun, April 26, 2002
A house is the largest single purchase most of us ever make. Why is it that so many people spend less then 45 minutes looking at the home they intend to buy?
The first two or three hours spent with your potential new home may be the most rewarding. Schedule a home inspection and take the time to review what is in store for you. A home inspection isn’t designed to put a value on a home, but to assess the soundness of it’s structure, systems and general state of repair, both seen and unseen. An educated and seasoned professional inspector can draw on knowledge and years of experience and evaluate every component of the home; from attic insulation to basement drainage.
By attending the inspection, you also benefit from learning how to shut off the main water and the outdoor taps, where the electrical panel is, and how to change the furnace filter. The home inspection will also give you ballpark figures on how much any repairs or renovations will cost.
“Whether it’s a buyer’s first purchase or fifth, they should consider a home inspection,” said Daniel O’Brien of Canadian Home Inspectors Inc. “It is very reassuring to have someone walk through the home and uncover hidden issues, which may be of concern.”
Home inspectors see all kinds of things. Several years ago Alan Carson of Carson Dunlop & Associates Ltd. was hired to inspect a house that a homeowner had just moved into. The homeowner had spent 15 minutes inspecting the house after dark before purchasing the house. After closing, she looked closely at the house from the backyard for the first time, and was shocked by the large crack running up the back wall.
“Based on the inspection and my knowledge of the neighbourhood, I determined that half of the house was settling because of an underground stream running below the building,” Carson said.
Exterior inspection is a large part of the process as well.
A complete check of the actual house, lot grading, sidewalks, patios and a visual comparison to neighbouring properties is carried out. This can help determine any problems with run-off, leaning or potential basement problems.
While most home sellers will not intentionally mislead someone, most will not point out problems unless asked specifically.
A home inspection is usually performed either prior to putting in an offer, or after an offer to purchase has been accepted. Many offers include a clause indicating the offer is conditional upon a satisfactory inspection. The condition should be worded so that the final decision on buying the home rests with you and not the home inspection company. The condition in the offer includes a time limitation so that the inspection is carried out promptly.
Visit www.carsondunlop.com or call 416-964-9415 to reach Carson Dunlop and Associates, or call Canadian Home Inspectors at 905-608-8088.
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