Buying a home is not something you should decide on a whim. A house is arguably one of the most significant purchases you will ever make in your life, and it can also be a considerable part of your future, depending on the mortgage plan you’re going to take.
Usually, an average mortgage plan can last anywhere from 15 to 30 years, which is a pretty long time to be tied down to a house. So if you have no plans of staying in one place for too long, buying a home might not be for you.
But if you are decided to become a homeowner, then you should take your time in determining whether the house you’ve found is a place you want to be living in for at least three decades of your life. It can be hard to back out of a deal once you have already signed the papers, so you should know what you’re getting yourself into.
The best way to deal with this matter is to hire a home inspector who can conduct a comprehensive inspection of the house you have your eye on. Here are three reasons why hiring a home inspector can be a wise financial decision.
You Will See the House Without Rose-colored Lenses
Open houses and showrooms share a common goal: to attract potential buyers. That’s why the realtor or seller stages houses during this period. They can put up decorative items, place strategically positioned furniture, and fill the house with the comfy fragrance of freshly baked cookies.
You won’t see the bare house until you’ve put down an offer or shown your interest in buying the place. This is a tried-and-tested method to selling homes, and history will show how effective it is. This is not to say that hosting open houses is wrong because it’s necessary to attract homebuyers.
But it’s also like an individual who befriends you with an underlying motive — you have to confront them so that they can show their true colors. This is where the home inspector will enter. Once you’ve shown interest in the house, you should ask the seller for a period where you can inspect the property.
During this time, your hired inspector should do a comprehensive check on the entire house and the surrounding premises to ensure that you will get what you will pay for. Make sure to check the foundations of the house, the crawlspace, basement, attic, roof, walls, structures, and doors.
You can join the inspector as they do their rounds to witness the real state of the house first-hand. This can be an excellent way to grasp the condition of the house and prepare you for any repairs that you might need to do once you move in.
You Can Save Money in the Long Run
A typical fee for a home inspection can range from $350 to $600, depending on the size and location of the house to be inspected. It can be pretty expensive if you don’t consider all the other expenses you can be saving on in the long run.
Initially cashing out a few hundred bucks on an inspection that can show you how much you’ll need to spend on upgrades and repairs can be wiser than knowing all these expenses later on. With the results of the inspection, you can prepare your finances for whatever needs to be fixed even before you move into the house.
For instance, if the home inspection report shows that circuits have loosened over time, or there are detached wall sockets, you can prepare a budget to pay for the needed electrical services. This can be more cost-effective compared to knowing about the problems later on when a repair can no longer solve the matter.
You Can Reconsider Your Decision
If, after the inspection, your inspector has enumerated more serious problems than you anticipated, then you can use those results to reconsider your decision to buy the house. Just make sure that the seller you’re negotiating with will grant you that flexibility.
In such situations where many underlying problems can be hard to fix, it can be wiser to take back your offer. The reason for this is that the house might be cheap, but the cost of all the repairs and upgrades you’ll need to make is monstrous.
Whether you go ahead with a home inspection or not is entirely up to you. It’s not required, but it is recommended especially because you’re spending a fortune to buy this house in question. Isn’t it only right that you can enjoy it for the price you paid for it? Be a responsible homeowner and make wise decisions.