Buying a house is probably one of the biggest investments you will make in a lifetime, making it an important decision that requires a lot of thought and consideration. Of course, before buying a property, it is recommended that a thorough inspection should be made by an expert. You might be thinking that you can do all the inspection yourself but an expert inspection can reveal much more than your eyes can see.
An Investopedia article by Amy Fontinelle cites the importance of acquiring professional home inspection services:
Your first clue that a home inspection is important is that it can be used as a contingency in your purchase offer. This contingency provides that if significant defects are revealed by a home inspection, you can back out of your offer, free of penalty, within a certain timeframe. The potential problems a home can have must be pretty serious if they could allow you to walk away from such a significant contract.
A standard Coquitlam home inspection lasts three to four hours. After that, the home inspector should provide you with a detailed report after the inspection, which should note whether the problem is a major or minor defect, or if it is a safety issue. Areas and items that would need replacement and repairs should also be indicated. As a potential homebuyer, you must be present during the inspection to ask questions about routine maintenance needed for the house.
To give you a general idea of what happens during inspection, here are some of the items a Coquitlam home inspector examines:
- Exterior walls
- Water heater
After the inspection, you may consider some options. If the report details problems that would be too costly to remedy, you can choose not to make the purchase so long as the contract has inspection contingency. If the problems can be easily fixed, the seller can fix them, reduce the purchase price or provide for the expenses through cash credit.
Sure, a home inspection can cost extra but it would benefit you in the long run and might even save you from making bad purchases.
(Source: Do You Need A Home Inspection?, Investopedia)