3 Reasons Why Waving a Home Inspection Is a Bad Idea
The real estate market is as volatile as ever. The demand for housing is at an all-time high while actual properties for sale are generally low. This situation creates a seller's market, which gives the upper hand to the party selling the home.
Some potential buyers will stop at nothing to scoop up a house as soon as possible, even without a home inspection, which is a bad idea.
Here are three reasons not to waive a home inspection.
1. A Home Inspection Is Worth the Initial Cost
The seller of the home and the bank granting you a loan for the house may not care if you get an inspection or not. After all, the bank will get back whatever they lent you, and the seller wants to sell for the highest price possible.
But for you, the buyer, getting a thorough inspection may help you find some troubling spots on the property that may be costly to fix. For instance, a home inspector may see that the foundation is beginning to buckle, or the roof is showing severe signs of aging.
When this happens, you will be able to either request the current owner to fix these problems or negotiate the price down so you can schedule repairs without shelling out even more of your own money.
The repairs mentioned above range between $5,000 to $20,000 or more to fix, so a home inspection is worth the $400 to $500 initial investment.
2. It Will Uncover Any Potential Problems
During a home inspection, some issues you find are eligible for repair before you agree to buy the home. Other problems may not affect the price of the home. However, it can cause a serious headache down the road.
A home inspection will not only find issues worth fixing before you buy, but it can also spot areas that may cause problems in the future.
3. A Professional Inspection Makes Your Home-Buying Decision Easier
Buying a home is one of the most significant investments most people make in their lifetime; you put your hard-earned money on the line to finally call a plot of property “home.”
Getting a home inspection ensures you’re making the right decision by either walking away or agreeing on a deal. In short, no matter if you’re buying a brand new home or an old one, a home inspection will grant you peace of mind and the right to choose.
Schedule Your Inspection With DMC Home Inspections
With over 150 points of thorough building inspection, DMC Home Inspections is the most trusted home inspection company in the Twin Cities.
Book your inspection online or give us a call at 612-310-1692 today!