For Your Protection Get a Home Inspection
It is your
responsibility to be an informed buyer. Be sure that what you buy is
satisfactory in every respect. You have the right to carefully examine your
potential new home with a qualified home inspector. You may arrange to do so
before signing your contract, or may do so after signing the contract as
long as your contract states that the sale of the home depends on the
inspection.
Why a Buyer
Needs a Home Inspection
A home
inspection gives the buyer more detailed information than an appraisal –
information that you need to make a wise decision. In a home inspection, a
qualified inspector (I recommend a structural engineer) takes an in-depth,
unbiased look at your potential new home to:
·
Evaluate the physical condition: structure, construction and
mechanical systems
·
Identify items that need to be repaired or replaced.
·
Estimate the remaining useful life of the major systems, equipment,
structure and finishes.
What goes on
in a Home Inspection
A home
inspection gives the buyer an impartial, physical evaluation of the overall
condition of the home and items that need to be repaired or replaced. The
inspection gives a detailed report on the condition of the structural
components, exterior, roofing, plumbing, electrical, heating, insulation and
ventilation, air conditioning and interiors.
What
to Expect From a Home Inspector
What can home
buyers expect from a private home inspector – besides a bill for around $350
(depending upon size of property and/or complexity of the inspector's
report)?
First of all, we suggest you require proof of membership in the American
Society of Home Inspectors. Home inspection is presently a comparatively
unregulated industry in many states; ASHI-certified inspectors meet
stringent requirements and abide by a sturdy Code of Ethics.
Next, expect a written report within one or two days following the
inspection.
Possible Repairs
Our experience has taught us that home buyers don't hesitate to make
necessary repairs to the home they're considering – they just want to know
up-front what to expect, and how much money to plan on spending.
Your private home inspection protects your interests, just as an appraiser's
inspection protects the lender from whom you'll obtain your mortgage. Your
inspection assures you that the house you're purchasing is what it appears
to be. And it alerts you to the maintenance and repair your new home will
need as time goes on.
Here are some sample costs:
|
Problems |
Examples |
Costs |
|
Serious |
heating, cooling, roofing, plumbing |
$2,000-$5,000 |
|
Medium |
insulation, paint |
$500-$2,000 |
|
Minor |
electrical outlets, kitchen sink |
$100-$500 |
If no serious
problems are found, inspection can pay off indirectly in maintenance tips
and the assurance that you are making a sound investment. And if the
inspection unearths catastrophic problems that can't be resolved to your
satisfaction, Real Living’s purchase agreement protects your interests. Ask
your Real Living sales associate to explain all the possibilities.
What
Your Home Inspection Should Cover
-
Siding: Look for dents or buckling
-
Foundations: Look for cracks or water seepage
-
Exterior Brick: Look for cracked bricks or mortar pulling away from
bricks
-
Insulation: Look for condition, adequate rating for climate
-
Doors and Windows: Look for loose or tight fits, condition of locks,
condition of weather stripping
-
Roof: Look for age, conditions of flashing, pooling water, buckled
shingles, or loose gutters and downspouts
-
Ceilings, walls, and moldings: Look for loose pieces, drywall that is
pulling away
-
Porch/Deck: Loose railings or step, rot
-
Electrical: Look for condition of fuse box/circuit breakers, number of
outlets in each room
-
Plumbing: Look for poor water pressure, banging pipes, rust spots or
corrosion that indicate leaks, sufficient insulation
-
Water Heater: Look for age, size adequate for house, speed of recovery,
energy rating
-
Furnace/Air Conditioning: Look for age, energy rating; Furnaces are
rated by annual fuel utilization efficiency; the higher the rating, the
lower your fuel costs. However, other factors such as payback period and
other operating costs, such as electricity to operate motors.
-
Garage: Look for exterior in good repair; condition of floor—cracks,
stains, etc.; condition of door mechanism
-
Basement: Look for water leakage, musty smell
-
Attic: Look for adequate ventilation, water leaks from roof
-
Septic Tanks (if applicable): Adequate absorption field capacity for the
percolation rate in your area and the size of your family
-
Driveways/Sidewalks: Look for cracks, heaving pavement, crumbling near
edges, stains.
