One of the best pieces of advice you can follow when it comes to buying a house is to schedule a home inspection. Regardless of whether you’re a first-time or experienced homebuyer, there’s a chance the excitement of buying your future home has you unintentionally wearing rose-colored glasses. Luckily, a certified home inspector has no emotional attachment to your new dwelling and can impartially and appropriately identify structural, electrical and plumbing problems, like faulty wiring, termite damage or cracks in the foundation.
The 2018 national average for home inspections is $325, according to Home Advisor, though this cost can fluctuate depending on the size and location of the home. But it’s a small price to pay to ensure your home is worth the investment. Depending on what’s found during the inspection, this could save you thousands of dollars in the long-run.
Inspections can give you bargaining power before a sale is finalized. Since most inspections are conducted after an offer is accepted, the inspector’s detailed report is a great negotiating tool to bring back to the seller to determine which issues you’d like to see fixed or addressed before the sale is closed.
Unlike appraisals, home inspections are usually not required by lenders to finance a home. However, it’s still important to work with your loan originator to understand if any specifics might apply to your loan. At the end of the day, knowledge is power and a home inspection can help you understand what you’re really buying—and if it truly is the perfect home for you.
You can find a certified home inspector in your state via the American Society of Home Inspectors (ASHI) search tool.
Have more questions about financing the purchase of a new home and all the steps involved? Find a Motto Mortgage office near you.
Published on September 27, 2019
