Lifestyle October 29 2018

What a Home Inspection Should Cover

Before making what may be the largest investment of your life, you’ll want to get a home inspection. Home inspectors are trained to examine the physical structures and systems of a house. If you’re going to spend hundreds of thousands of your hard-earned dollars, don’t you want to know exactly what you’re getting? From the roof to the foundation, a home inspector’s report should note the overall condition of the home. It allows buyers to request repairs or negotiate a lower price, and homeowners can use it to make repairs that may make the home easier to sell.

How Do I Get a Home Inspection?

During a typical home sale, the inspection comes after the purchase agreement is signed—but that doesn’t mean the buyer is already locked into paying a certain price. The buyer and seller usually want to make sure they’ve been able to agree on a price before the buyer bothers shelling out the money for an inspection. The national average cost of a home inspection is $326.[1] Your real estate agent or broker may be able to help you find a reputable inspector. You can also use the find a home inspector tool to search for professionals in your area who are members of the American Society of Home Inspectors. Feel free to follow the home inspector as they work. It will give you a good idea of where important switches and systems are in your potential future home. Inspectors won’t generally look at the condition of anything that is not readily accessible, but here is a list of the main things they’ll check:

  • They should look for any cracks, dents, or leaks in the foundation, floors, walls, ceilings, siding, windows, doors, and the roof.
  • Electrical systems. Inspectors are trained to check the condition of cables, conductors, and panels. They’ll also note the number of installed light fixtures, switches, and outlets.
  • Plumbing systems. The inspector should check out all the faucets, drains, and pumps. They’ll document things like poor water pressure and corrosion, as well as the age and condition of the water heater.
  • Heating/air conditioning systems. Inspectors will usually note the age and energy rating of furnaces and air conditioners. However, not all inspectors will check solar heating and air conditioning systems. Be sure to ask if the home does have renewable energy technologies.

If you’d like to know the condition of some of those hard-to-reach systems like wells and septic tanks, you can get additional inspections. Many states even require a pest inspection in order to acquire a mortgage loan.

What to Do With the Results

It is highly unlikely that the home inspector’s report will be free and clear of any deficiencies. If the problems are really bad, you can still back out of the purchase altogether. If not, the inspector may provide an estimate of how much it would cost to fix each issue, and it’s up to you to decide how you want to deal with each one. Major problems, such as water damage, may want to be requested that the seller get it fixed before the closing. The smaller, cheaper problems may be used to negotiate a lower purchase price, and you can take care of it yourself after you move in. Either way, a home inspection will give you a better picture of what you’re looking to buy. It’ll help you make a better-informed decision to either move in or get out and continue your search for the perfect house.  

Speak to a Loan Officer today

  Sources: [1] www.homeadvisor.com

Search Results for query

October 15 2018

Finding the Perfect Neighborhood

Amid the excitement of hunting for the perfect house for you and your family, don’t forget to pay attention to your surroundings. It doesn’t matter how perfect your chosen house is — disliking the neighborhood can make your living situation...

Read More

October 12 2018

5 Common First-Time Homebuyer Mistakes

You’ve scrimped and saved for years—dreaming about owning your first home. Now it’s time to make one of the largest purchases of your life. Are you ready? Have you done all of your research? Almost half of Americans have some regrets about the...

Read More

October 09 2018

What’s Scarier Than Bad Credit? No Credit!

Many may pride themselves on having zero debt, but is it really the best for their financial future? Not as much as you may think. Having no or little credit can make large purchases and future milestones more challenging to achieve. The good news is,...

Read More

September 28 2018

Best New Upgrade Trends for Your Home

Sometimes your home needs a little renovating in order to maximize comfort and livability. Here are several ways to upgrade your home on any budget or scale! 

Read More

September 20 2018

Terms to Watch for in a Purchase Contract

Every home sale starts with a home purchase agreement—a legally binding contract signed by homebuyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms. While the forms and wording vary from state to...

Read More

September 18 2018

The Best Home Improvement Projects for You

If you’re exploring home improvement options, you know there are a lot of tips out there. But there are most likely just two reasons that you would be researching major home improvement projects: You either want to improve your home, or you absolutely need...

Read More

September 14 2018

Preparing an Emergency Supply Kit

Every September is recognized as National Preparedness Month, and as our nation braces for another natural disaster, it is important to reflect on your own preparedness. Do you have an emergency supply kit? Do you know where your family would evacuate to if the...

Read More

September 14 2018

8 Questions to Ask Your Lender

It is your mortgage lender’s job to help you get a loan that is best for you. It can be intimidating and confusing treading new territory when buying a home. Familiarizing yourself with the terminology used in real estate and finding a lender who will walk...

Read More

September 10 2018

Understanding Title Insurance

Buying a home can be an anxious, emotional, and stressful time for many people. Understanding owner’s title insurance and why it’s important can help. Each year, more than 80 percent of homebuyers choose to purchase owner’s title insurance....

Read More

First23456Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?