Whether you are buying your first home or if you are looking to boost your real estate portfolio, a building inspection is essential before you make your purchase. Some individuals may think that skipping this step would be economical. In reality, you could end incurring exorbitant costs down the road that would have been avoidable if you had the property inspected independently. Below are just a few of the reasons why all homebuyers should invest in an independent building inspection.
A building inspection would alert you of pertinent repairs
A significant reason why an independent building inspection is essential is the report will give you a clear understanding of the structural integrity of the residence. You may be tempted to carry out a visual inspection on your own and leave it at that, but this would not be adequate. Building inspectors have the relevant expertise that would enable them to know which specific areas to check that are typically overlooked during casual home inspections.
By hiring a certified inspector, you get to know the condition of the home's electrical system, plumbing, foundation and all other aspects that could pose potential risks down the road. Moreover, by having a building inspector check these areas for you, it saves you the additional cost of hiring separate contractors to ascertain the status of the different systems in the home.
A building inspection could help reduce the purchase price
The real estate market is prone to having a peak and a low season, which would invariably favour sellers and buyers at different times. If you are looking to purchase a home during peak periods, then you may find that the houses you like would cost more than your budget. Nevertheless, this does not mean that you have to invest more than what you had intended. Instead, you should get a building inspection conducted to ensure that you are getting your money's worth. Some sellers may not even be aware of some potential problems with the structure and would possibly have not factored them when pricing the residence.
If your independent inspection brings to light structural problems with the home, there are a few options that you could consider. First, you could negotiate with the seller for a price reduction. Secondly, you could have the seller fix the problems before you proceed with the sale. Lastly, you could choose to embark on the repairs prior to the sale with an agreement that the seller will deduct the cost of repairs from the selling price.Share