Home Inspection Basics As A First Time Homebuyer
All homebuyers are prone to overlook major problems during the buying process only to be surprised by them once they have already paid for the property. You can consider hiring a professional home inspector even before signing any contract to avoid any regrets and stress after buying a property.
However, you aren’t required to conduct an official home inspection until after signing the initial contract, so it’s a good idea to learn as much as possible about the condition of the home by having an honest discussion with the seller, and even performing your own ‘mini’ inspection where you can check for basic structural defects or potential problems.
Sellers typically allow prospective buyers to inspect their home before anyone enters into any agreement. Barron’s ‘Smart Consumer’s Guide to Home Buying’ advises homebuyers to use a checklist in taking note of any problems and issues in the earliest time possible. The book further explains, “If you are thinking about buying a house that will need renovation or upgrading, the more value will be derived from your mini-inspection.” The mini-inspection will ultimately give you a bargaining leverage when negotiating for the price of the home you are buying.
You need a checklist in inspecting the house to ensure that you cover all important aspects that you need to look at. The information you gather from this checklist can then be used to create a written report to help you in assessing the overall condition of the house. Here are some important matters to include in your checklist:
Know the age of the house – Know the exact date when the house was built. You must also check if there are any renovations or upgrades done on the home, when they took place and if the house’s blueprints are still available.
Inspect the house’s foundation – Check if there large cracks around the home and basement. You should also check for water or weather related damages. Ask the seller if the house ever experienced or experiences weather related problems in various seasons.
Check the interior for defects and potential problems – you’ll want to make sure that all doors open and close easily and that all the walls are flat, even and free of cracks. Make a note of any visible cracks or deterioration and take pictures of anything that stands out. You’ll also want to check for mold problems, odors and make sure all water entry areas are clear and functioning properly.
Check the exterior for defects and potential problems – do all of the windows and doors have adequate insulation? Do they open and close fluidly? Make sure all of the siding, windows and doors are free of cracks and any noticeable wear and tear.
Review heating and air conditioning appliances – ask about the average heating and cooling costs each month, and find out how long the systems have been in place. In some cases, you may need to invest in a new water heater or air conditioning system.
Look at all your notes and create a written report about the condition of the house you just inspected. You may also consider using a digital camera or camcorder to take pictures and videos for a more detailed review in the future. This additional effort may give you an advantage over the seller come negotiation time.
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