Is Getting a Home Inspection Worth It?
Buying a home is the biggest financial decision most people will make in their lives. Even if you get a great deal on your future home, you may be tempted to forgo some of the “optional” costs that come with buying a house, like a home inspection.
The idea of saving a couple hundred dollars by not getting a home inspection is enticing, but those savings today could cost you thousands down the road.
Keep reading to find out why you can’t afford to skip the home inspection.
You Need to Know What You’re Buying Before You Buy
Before you buy a home, one of the first things you should do is have the home examined by a professional home inspector. You wouldn’t buy a car without taking it for a test drive first, and the same goes for buying a home.
During the inspection, the home inspector determines the present condition of the home’s major systems, based on a visual inspection of accessible features.
The inspection focuses on the performance of the home, rather than the cosmetic or design features of the home.
An extensive home inspection should examine the roof, foundation, and every major system and area in between, including:
- Electrical system
- Heating and Air Conditioning system
- Plumbing system
- Insulation and Vapour Barriers
- Mechanical and Natural Ventilation systems
The home inspector will provide you with a clear, simple, and easy to understand home inspection report, leaving you prepared to make an informed buying decision.
Prepare for Future Costs Now to Avoid Headaches Down the Road
The home inspector can estimate the installation age of the major systems in your home, like plumbing, heating and cooling, and water heaters. Because all appliances and systems in your home have a “shelf life,” it is important to know when they’ll require replacement, so you can budget accordingly.
If the problems identified in the home inspection report are too expensive or too overwhelming to fix, you can choose to walk away from the purchase (so long as the purchase contract has an inspection contingency).
For problems that are more manageable, you can request that the seller fix these problems before you move in, or you can negotiate for a lower purchase price.
If you can do this, the couple hundred dollars you spent on your home inspection will pay for itself and then some!
To give you some peace of mind, some home inspection firms offer on-going protection programs along with their home inspections that cover expensive breakdowns on heating, cooling, and appliances.
Even if your house turns up clean, knowing that you’re covered if something goes wrong down the line gives both the seller and the buyer peace of mind knowing their home is in good hands.
The Bottom Line
A home inspection isn’t an expense that comes with buying a home, it’s an investment. As a home buyer (or seller) it’s your duty to know what you’re buying and prepare for the future. Thankfully, you don’t have to do it alone.
Carson Dunlop is Canada’s oldest and largest home inspection firm. Our clear, image-rich inspection reports are the best in the industry. Backed by over 40 years of experience, our knowledge and uncompromising standards have become the benchmark for our profession. In fact, we literally wrote the book on home inspection.
Want to get started? Book an inspection with us today!
Want to learn more? Check these out!
- Why Condos Need a Home Inspection
- Inspect Before You Renovate
- Pre-Inspected Listings: The Future of Real Estate