Reasons You Need a Home Inspection Before Closing

 

The topic of this article might seem simple and may be common knowledge for some home buyers, however, many simply do not understand how critical a home inspection is, regardless of what side of the transaction you are on.  In the real estate industry, we come across many buyers and sellers who know they need an inspection, but do not understand why. The “why” is the most important part of the home inspection, especially if you are the buyer!

 

If you are in the Southwest Florida market for a new home, you need an inspection of the property first. A critical and thorough inspection can alter the final price by tens of thousands of dollars, in some cases.  There is a significant difference between routine maintenance and major structural problems, and the results of the inspection may dictate whether or not the deal will close. You need to know everything about the property before you make a decision.  Here are three reasons you need a home inspection before closing.

 

1. The property isn’t what it appears to be on the surface.

It is possible that the polished, bright and new appearance of a home is only skin deep.  It is far easier to fix cosmetic details than it is to handle the “bones” of the property.  While everything appears nice on the outside, serious structural issues, persistent moisture or pests could potentially be covered up in order to make a sale or profit.

Another common situation you may encounter is a one-time vacation property, which has since been repurposed.  These properties generally have undergone renovations or remodels, leaving a positive outward appearance, but have some unique differences, due to having multiple foundations laid down.  A home inspector will check the roof of the property: if it is oddly layered or slants at peculiar angles, this could indicate the property has had additions and may have some of these unique issues.

Neither scenario necessarily means the property is not worth purchasing, however, you need to be fully aware of what you may be up against, before you make your decision.

 

2. There may be more repairs/updates than you think.

 

It’s easy to assume newer properties do not need an inspection. If something is only twenty-years-old and expected to withstand a century, it shouldn’t have issues now, right? This is not necessarily the case! The roof, lanai and appliances may not last more than those first twenty years.  You may also need to replace carpeting or flooring. There may be scratches or dings on hardwood floors or tile, paint may start to chip, or plumbing may give out.  Properties are built to last, but they only last by receiving proper care. After twenty years, many items will need to be addressed, whether they need to be replaced or repaired. Repairs can be costly, and as a buyer you need to know the extent of maintenance needing to be done, to ensure you are prepared and financially aware of these items, before purchasing.

 

3.  The unit is a Fixer-upper.

In most cases, it is understood with fixer uppers that the cost of the repairs you will be undertaking may be mitigated by a lower price for the property itself.  With the right know-how, time and effort you can save money in the long run.  It is anticipated as a buyer, that you may need to purchase a new roof, gutters, or appliances at some point.  Luckily, issues with these items can often be uncovered at a glance, without an inspection and should be reflected in the asking price.  This understanding unfortunately deters some buyers from having an inspection, as the buyer believes they understand the faults of the property, and are prepared to deal with them.  Issues with the structure of the property including; the foundation, frame, roofline, floorplan, drainage and access, are not necessarily noticeable by performing a simple walk through.  A property with plumbing and sewer issues, damage from termites, or foundation or wiring issues could suddenly add a significant amount to the repairs you were planning, and may realistically put the property over budget.

 

A home inspection is vital in gathering appropriate knowledge when making a purchase of this magnitude.  When everything goes smoothly after you close the deal, you will be glad you were equipped with answers to all the “whys” to feel confident in your transaction.

D. Michael Burke, P.A.

 

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