Why Are Home Inspections so Important?

Angela Fox Broker Associate podcast

Today, I’ll to answer three of the most common questions that I get about one of the most important steps in any real estate transaction: the home inspection.

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Home inspections are an incredibly important part of the real estate transaction. I get a lot of questions about inspections from homebuyers, so today I’ll cover the first three.
The most common question I get is, “Who pays for the home inspection?” As the homebuyer, the inspection is part of your due diligence, so that is going to be your cost. However, the home inspection pays for itself time and time again because it helps you know if anything is wrong with the house that you’re purchasing.
A general home inspection runs anywhere from $300 to $500, depending on the age and square footage of the home.
What kind of inspections should you do when you buy the home? There are a variety of inspections that you can have done on the home. It’s a good idea to start with the general inspection. If that inspector sees anything that he feels needs a specialist’s attention, he will suggest another inspection.
For example, if the general inspector finds a water leak in the bathroom, he may recommend that you hire a mold specialist to do a mold inspection. If there is a serious issue with the roof, he may recommend that you hire a roofer for a more in-depth roof inspection.
I do recommend that you do a sewer line scope, especially in neighborhoods with older, mature trees. You can also order a radon test to see what the radon levels are, or a termite inspection if you are concerned about that. Typically, though, we don’t see many termites in Colorado.
One of the most important inspections you can do is the neighborhood inspection. Walk through the neighborhood at 10 p.m. or early Saturday morning. Talk to a few of the neighbors too see what the area is like. After all, you are only in the house one or two times after you make the offer and before you close, so you really want to get a feel for the area. If your neighbor’s dog barks incessantly, you wouldn’t know that without inspecting the neighborhood.
All of these inspections are a great way to protect your earnest money because you always have the right to terminate the contract.

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Home inspections help protect your earnest money.

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Finally, what is an inspector looking for? The inspector will note health and safety concerns, maintenance items to keep an eye on, and a couple honey-do items that you may want to correct upon moving in.
When you first look at the house and fall in love with it, you might be swept away by the beautiful kitchen with granite countertops and new appliances. However, we don’t know what’s going on behind the walls. The inspector will examine the electrical system, water pressure, and the age of the furnace and the hot water heater.

Hopefully, these answers have helped you understand a little more about home inspections. I will answer a few more home inspection questions next time. Meanwhile, if you would like to learn more about home inspections or real estate in general, just give me a call or send me an email. I would be happy to help you!