The purchase of a new home can entail a long list of “to do’s” before you get to the closing table. One of the key details in the process is the inspection of the property that you plan on buying. An inspection can uncover any number of concerns – including those that can’t be seen with the naked eye, such as improper wiring, roofing or foundation issues, and even the presence of harmful mold.
Typically, depending on the size and type of home you are purchasing, an inspection can cost several hundred dollars. But, while this can be a substantial amount of money – especially given all of the other expenses that home buying incurs – don’t be tempted to skip this process as it could end up saving you thousands of dollars (or more) overall.
In many cases, when issues are found in the home inspection, the buyer and seller can negotiate on who will repair or replace the issue. If you, the buyer, will be doing so, it is possible that you can also negotiate with the seller for a certain amount of money at closing, or to take a price reduction on the home.
When you are choosing an inspector to work with, this is not an area to go with the one who has the lowest price. Rather, keep in mind that for most people, a home is the largest purchase they will ever make. Therefore, it is important to go with an inspector who is experienced and well qualified, and ideally, one who is familiar with the homes in the location where you are purchasing.
Are you considering the purchase of a new home soon? If so, give us a call. We can work with you in finding the perfect place to call your own, whether you’re downsizing as empty nesters or expanding your family and need room to grow.