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With home prices and interests rates so high, buyers are looking to save money anyway they can.  Unfortunately, some are passing on home inspection to do so.  Here are a few benefits the buyer might want to consider before passing on that home inspection.

1. Identify potential safety risks

When looking to buy a home, it is unlikely that buyers will yield enough information on the properties inner workings through a simple walkthrough. Having your new potential home inspected before considering purchasing the property is the best way to uncover any hidden issues or possible safety risks to you and your investment.

Inspections can help to identify any number of possible deal breakers with a property, including:

Pests & animal infestations

Fungi, mold, and allergens

Air quality and HVAC systems

Structural issues

Condition of roofing, windows, doors, etc.

Septic tank, pipe leaks, and water quality

Issues with wiring, circuit breakers, and electrical outlets

Oftentimes the seller will not even know of these issues themselves, making it important to get the property inspected for yourself before you consider purchasing it.

2. Gain leverage as a buyer

A home inspection report may present potential negotiating opportunities for buyers. This can include asking the seller to have any systems or risks repaired/handled before you finalize a purchase or to lower the asking price of the property.

While sellers are not guaranteed to follow through with a request, knowing the risks of a property can offer buyers a way of knowing the true condition of the property and a possible way to save money when purchasing a home.

Typically, this would be best suited for major issues discovered during an inspection, as smaller scale issues will likely not yield any results as a bargaining chip. Work with your realtor to help determine what identified issues present the biggest risk and what your options would be in negotiating with the seller.

3. Plan for the cost of any future restoration

Even if you go through with purchasing a property after a home inspection, you still gain an inexpensive report of the condition of the home that you can refer to after the deal is finalized.

While smaller issues may not be enough to dissuade you against purchasing a property or to negotiate for a better price, they may be able to help you decide what restoration projects you want to prioritize in the future.

Home inspectors can also approximate the current “shelf life” of a home's equipment and structure, providing you with a general timeline of when certain systems will be likely to break down in your home. Knowing how much longer a home’s water heater or HVAC system has can be an invaluable way for new homeowners to plan ahead for potential maintenance costs.

4. Reduce buyers remorse

For most homeowners, choosing to purchase a new home can feel like a life-altering decision. Without being properly informed about the property, you could find yourself regretting your new purchase due to any number of issues you discover after moving in.

Simply put, home inspections help to provide you with peace of mind that the property you’re looking to purchase is ready to be your new home. Even if your inspection doesn’t identify any problems, you can sleep even better knowing that there aren’t any issues to stress over.

All good reasons to encourage the buyer to get that home inspection it is definitely worth it in the end.

Evduza Ramaj

Inside Realty