Posted on: 11 May 2020
When you invest in your first home, you are taking a big risk. While the right home could provide you and your family with years of comfortable shelter, the wrong abode could cost you thousands of dollars in repairs and become a large source of personal stress. Here are three ways buyers can prepare for home inspections before they happen, and why these steps are important.
1. Evaluate Your Budget
After you book your home inspection and await that important report, think carefully about what you are willing to spend to fix up the house. Pay attention to the home to look for issues that could cost money down the road, such as a damaged home exterior or outdated kitchen appliances.
Consider exactly how much you want to spend on repairs or improvements, and think about whether or not you could ask the sellers to help foot the bill for some of the issues. If you have extra money, you can plan a budget to put a certain amount of money for the repairs. On the other hand, when money is a little short and you are headed into a home inspection that is sure to uncover some problems, you may want to ask the inspector to evaluate potential costs of repairs during the due diligence period.
2. Think About Your Timeline
It is also important to consider your timeline during and after a home inspection. Think about how quickly you need to get into a home, when the inspector can make it out to the property, and how long of a due diligence period you have to get things repaired. If you are on a short timeline, consider asking the home inspector to come the first day of the due diligence period, ideally in the morning. By taking this step, you can give yourself more time to take care of the things that you need to, which can be really valuable in the long run.
3. Talk With The Real Estate Agent
Have a chat with your real estate agent and ask if they have ever had home inspections that uncover serious issues with a home, and how those problems were dealt with. Ask what kind of negotiating power you already have, and what you could likely ask for if the inspection turned up some serious issues with the home. By taking this careful step, you can prepare for the negotiations you may need to request, without taking lots of time trying to decide what to do next.
While it can seem intimidating to invest in your first home, the right house inspection could give you the security you need to move forward with the purchase confidently. As you book a home inspector, think carefully about who you can trust, what you are looking for, and what their reputation is like online. During the home inspection, ask if you can be present to see what happens. Contact Shield Home Inspection for more information.Share