3 Common Home Inspection Mistakes
Buying a home is a big investment and there are lots of things to consider. I know when we bought our home, we were thinking about what we could afford, where we wanted to buy, and how to save some money on things like home insurance. The house we wanted was only six years old and I thought a home inspection was more or less a formality before the bank would formalize the mortgage.
But, as it turns out, we did our inspection at a time of year when the inspector couldn’t get onto the roof (we live in Calgary) and he missed a big hole in some of our flashing. Fast forward a year and it turned our master bedroom into a swimming pool after a big storm.
We got it all sorted out but it could have been avoided. Here are three mistakes people make when they get a home inspection:
Get Your New Construction Inspected
People sometimes make the mistake in thinking that just because something is new, it's going to pass a home inspection. But the truth is that mistakes are made, systems can fail and materials may be sub-par.
I made that mistake when I assumed my house would be fine because it was only six years old. Think of your new or newer home as something that hasn’t been tested yet. Things can happen, is all I’m saying.
Spend the money and get a good home inspection. If something comes up you can go back to the seller and ask questions, make contingencies for repairs in the offer or even retract your offer all together. Repairs and seller responsibility gets a lot more complicated if you’ve lived in the house for certain period of time before mentioning any defaults.
Choose Your Home Inspector Wisely
When you're choosing a home inspector, think about who you are choosing and why you're choosing them. Many people usually go with the inspector their realtor suggested or with the company who offers the lowest price, but that's not always the best solution.
You want to find a home inspector who has no relationship to anyone in your housing deal so they can give you an unbiased opinion on the condition of the home you want to buy. Your home is probably going to be the single biggest investment of your life and you're likely borrowing several hundreds of thousands of dollars to make it happen.
Make sure your home inspector comes recommended, has significant experience and will give you an honest answer. Ask friends, family members and co-workers for recommendations. Interview two or three inspectors before hiring one to ensure you feel comfortable.
Make Sure You Go Along on the Inspection
When your home inspector goes through the house, they use different equipment and methods to assess the state of your home. Attending the home inspection gives you the chance to ask questions and learn about the process they use to assess your house.
It can also be a good opportunity to ask questions so you can get a good home insurance rate. For instance, knowing that you have an auto-water shut off valve in your home can get you a discount on your home insurance.
Don't be afraid to ask your home inspector questions and have them point out any additional features of the home. This can help you negotiate the purchase price with the seller as well as get a discount on your insurance premiums.