Buying a house, why should I get a home inspection?

Question

I'm purchasing a house and am no longer sure I should spend the $300 - $400 to get a home inspection. Why should I get one? I hear most of them do not offer warranties.

Answer 1

It has nothing to do with a warranty, this is a way to protect yourself against unforseen conditions of the house, if it's a new house, your own inspector can tell you about defects the builder will leave you with if not caught, and sometimes those defects can be very hefty in the pocket later, also for older homes, things that you can see by just walking through the house, like old wiring bad plumbing, insulation issues, TRUST ME get your own inspector, the inspectors for the builders is just that FOR THE BUILDER, protect yourself now from heartache and a pocket ache later.

Answer 2

A home inspection is completely different from a home warranty. A warranty is something that is offered by the seller of the property in many cases ... it costs them between $300 and $400 and covers the home during the listing period for the sellers AND for the buyers for one year (usually) from the date of settlement. These warranties will normally cover repairs to the mechanical, plumbing, and electrical systems of the home, including the appliances. So if, for example, your refrigerator breaks down a week after you buy the house, you would call the warranty company. They will send a repairman who will repair or replace the refrigerator. You are only responsible for paying the deductible ($100 in most cases).

A home inspection, on the other hand, is done by a buyer prior to settlement. A licenced home inspector will go through the home with a fine-toothed comb and let you know what, if anything, is wrong. You can then, depending on the terms of your contract, request that the seller make the repairs prior to settlement ... and if they refuse, you might be able to back out of the contract. Again, it depends on the terms and conditions of the contract. If a home is being sold "AS IS" there will be no repairs made by the seller. A home inspection is always a good idea! A good inspector will also point out "knucklehead" stuff to you that can help you maintain and/or improve the property. Considering that in my market area a typical home costs $300,000, spending $300 to make sure that there are no problems is a great investment.

Answer 3

You can pay for a warranty on your own - they cost $400 and cover you for a year.
Inspections let you know if your foundation isn't stable or your plumbing is shot, things that a normal person wouldn't see.
When I was buying my house, the inspection brought out the fact that we'd have to spend 40k to get the entire house rewired because it was a fire hazard as-is. It can be a great bargaining tool.
Only a fool would NOT get an inspection. You wouldn't even know if dangerous mold was growing in your new house.
It's only a few hundred dollars, virtually pennies compared to what you're spending on the house itself. Just do it, you'll be glad you did.

Answer 4

Peace of mind! We just had one done and the heating/AC were deemed to be too old and the AC was also not working in the proper temp range, the water heater is also old and will need to be replaced. We figured that. But what our inspector did find was a drain problem, she found that what looked like the remains of a tub leak was in fact the remains of a very well repaired tub leak with all the wood still in good shape, not signs of wood damage, brick all in great shape, roof is great, the ducts for the heat and ac system are in good shape, and while being an older home-it is overall in great shape. We were able to use the proffesional report she gave us to show that the furnace and ac need to go and got an additional credit from the seller to do that. So her $300 inspection saved us $4,000 and we have the additional bonus that we now know the rest of the house is in good shape. Well worth it.

Answer 5

Let me ask you one question. How many Surprises Can You Afford? Not having a home inspected is like buying a car without driving it. We do not offer warranties because we can't look into the future. I can't tell when the hot water tank is going to fail or the furnace, maybe in 3 months or maybe in 5 years and that is what inurance companies are for (Home warrantys). I have save my buyers hundreds of thousands of dollars in surprises. I find new roofs installed wrong buy homeowner and contractors. I find roofs that look good from the ground but are failing when inspected from the roof. I find decayed sheathing under new roofs. I find failing siding and windows installed wrong. I find broken water and sewer pipes under the house. I find soil washing out under the footings. I find decayed flooring where a homeowner or a house flipper have covered it up with new vinyl. I find outlets wired worng and wired backwards and with no ground. I find mold growing in the crawl space, because someone has vented the dryer under the house. I find mold in the attic because the bathroom fans were not connected to the outside. I find broken and cracked tursses and decayed floor joist. I find wood stoves installed wrong and are a fire hazard. I find gas and hot water tanks & furances installed by homeowner without permits. I find hacked up wiring in the attics. The list goes on and on. Anyone of these can cost you big bucks to repair. I guess if you don't want to know about these kind of things before you buy then save the $300-$400 and hope for the best. Good luck to you.

Answer 6

Yes. For most people who buy a home it is the largest purchase they will ever make. A home inspection can alert you to problems that home has or will develop in the coming years of ownership. You can then decide if the price the seller wants for the home is reasonable and in many cases get the seller to correct the problem before you buy it. If you want a warranty I recommend a new house that comes with one.

Answer 7

Don't be "Penny Wise and Pound Foolish"

Trying to save 300-400 on a home inspection might end up costing you 10 times that with a problem you are not qualified to see.

I ALWAYS recommend my clients get a home inspection.

They can spot things I don't even see and I've done a lot of deals over the years and always go on everey inspection my buyers get.

Hope this helps.

Terry S.

http://www.Welcome2Arizona.com

Answer 8

We resently bought a home and had a home inspection. The best thing about it for me was that I had a professional look over everything about the house. He told us about minor problems, major problems, and how to help make the home better. He told us how to fix things whether we could do it ourselfs or to have a professional do it for us. He told us things that needed to be fixed to help with heating and cooling cost just through that if paid for itself. When spending several thousands of dollars on a house, 300-400 dollars doesn't sound like much to have a professional check it over.

Answer 9

1. Your lender may require it.

2. Your insurance company may require it.

3. It is cheap insurance against most surprises. Would you really want to invest 5 or 6 figures in a home to find out after you closed that it needed $10,000 worth of plumbing or electrical repairs? Compared to the price of a home, $300 or $400 for a comprehensive inspection is peanuts. Only a fool would move forward without one, IMHO.

Answer 10

shorts, the home inspector can find things wrong that are not visible to mere mortals like you and me. Some of them are so serious that you may opt to withdraw your offer. Others are just nuisances that you're going to have to deal with.

An inspector may find faulty wiring which poses fire risk and costs thousands to replace. Or foundation cracks which are already too far advanced for effective repair. Or roof leaks fixed with temporary patches (and fresh ceiling paint) that will only last a few months. Or negative grade at the foundation which will cause basement flooding. Or evidence of past flooding, cause unknown.

Or maybe he'll find a weakened stair or floorboard, noting that it will crack or break through eventually, or a gas leak from the water heater, or flex pipe where rigid pipe is required connecting to the furnace, or an air conditioner that's seen better days and is nearing the end of its life.

Large or small, these things are worth knowing, as they may affect the house's actual worth.