Many home buyers have found the perfect house, signed on the dotted line and may think they’ve watched enough home improvement shows to know if the home they’re getting is in good shape. Unfortunately, some buyers make the mistake of skipping a home inspection in order to save a little cash.
Even if a home has already stolen your heart and you’re ready to pay for it as-is, you need to bite the bullet and hire a home inspector to let you know what repairs and financial repercussions await you.
Why You Should Hire A Home Inspector
You might know a thing or two about home remodeling and repairs. However, most people are not experts on the inner workings of every facet a home. That is why it’s important to hire a professional to search for potential furnace issues, electrical wiring mishaps, plumbing weaknesses or roofing deterioration to name a few.
While a home might look like it’s in perfect condition on the surface, there could be major issues hiding beneath its façade. That’s why it really is imperative for your safety that you hire an inspector to scrutinize the bones of your home. Understanding any imperfections may also help you budget for immediate and future repairs.
When to Schedule the Home Inspection
Once you’ve signed a purchase contract, you’ll want to schedule a home inspection before the inspection period has ended. Typically in the Indianapolis market, a 10-14-day inspection contingency is provided. With bank foreclosures however, that number can be as low as 5-days, but is generally 10. Given the incredibly active Indy market, it is crucial to schedule your inspection ASAP, as soon as the offer is accepted, and earnest money is delivered to the listing broker. The good inspectors are usually booked several days ahead.
While you would normally schedule an inspection after you’ve signed a contract, it’s important to have an inspector or two picked out beforehand. Ask your Realtor or friends and family for referrals and then contact the inspectors for pricing and a list of what they will and will not cover at the inspection.
This will obviously vary, but expect to spend anywhere from $250-500+, depending on the size of the home, and the extent of the inspection. There will be additional fees for specific inspections and testing of things like Radon, wood destroying insects (termites, etc.), septic, and well water quality tests.
Once again, remember that the cheapest price may not be the best deal on home inspections. Have a good understanding of what, and who, you are investing in. And make sure the inspector is licensed.
Even if you do know a lot about the structure, plumbing and/or wiring of houses, it’s important to shell out the additional money to hire an inspector and cover your assets. You’d hate to end up with a home that needs major renovations and not have known about it.
For more information on hiring a professional for your Broad Ripple or Central Indiana home inspection or for a referral, drop us a line below, or give us a call!