As the already-sizable gap in income distribution in the United States widens even further over time, the average American has less and less to spend towards her wants and needs. Most people have dreams to purchase a home one day, settle down with a significant other or by themselves, and live comfortably. However, homes are exorbitantly expensive in today’s modern real estate market – in 2016, the average listing price on Realtor.com totaled $412,222. The national median price of new homes sold in the United States is $310,800, as of June 2017.
As such, it’s important for home buyers to thoroughly evaluate the condition of prospective homes prior to purchasing or financing them. Americans generally can’t afford spare, 300,000-dollar homes or home repairs and related supplies and equipment on faulty homes.
Here are six reasons every prospective homeowner should never, ever skip a home inspection.
Sellers can boost short-term value through visually-appealing upgrades
Most every established and prospective homeowner, alike, sees only a home’s exterior in realty walkthroughs. While a home’s interior is often more costly to repair than the outside, sellers sometimes attempt to cover up internal deficiencies with recently-done home improvements like painting walls, new ceiling fans, new lightbulbs and fixtures, room add-ons, and interlocking faux wood flooring. These will certainly look appealing on first glance, although they maybe little more than façades. Home inspectors can help differentiate between perceived and actual home quality.
Can prevent disaster
Fires can occur from things as simple as ventilation systems’ vents getting clogged up. Commissioning a home inspection prior to purchase and on an annual basis is key to preventing disasters.
Prevents stress and buyer’s remorse
Real estate market analyzer Trulia recently found that nearly 50 percent of homeowners and recent home buyers alike feel buyer’s remorse about their current place of living. Paying for a home inspection can help prevent this remorse by soliciting an experienced, independent opinion on the home’s value.
Get a lower price
In negotiations for purchasing expensive assets, owners are reluctant to budge on any claims made by interested patrons. Simply arguing a home’s low quality won’t help buyers command a lower price. However, doing so with a home inspection’s evidence on your side will undoubtedly help.
Closely estimate repair price
Homeowners find more bug infestations, mold coverage, and subpar home features when remodeling than any other time. Paying for a home inspection can better estimate potential cost of planned improvements rather than carrying them out first, then calculating expenses after the fact.
Deals can be had on structurally-solid, visually-unappealing homes
As referenced earlier, most buyers are only able to view the exterior of homes during brief walk through, not their actual condition. Because many interested buyers turn down shabby-looking homes, you just might be able to turn a profit off a remodel project. Conversely, not hiring a home inspector when trying to remodel a home is silly, as expenses heftier than its purchase price may be incurred.
Many prospective home buyers and existing homeowners overlook the importance of standard home inspections. For the reasons above, and many others, everybody should commission a home inspection upon initial viewing, then annually if it’s actually purchased.