A Quick Guide to Pre-Purchase Home Inspections
posted in Mortgage News
Pre-purchase home inspections are an important element of the home buying process, and there are several things to look out for during an assessment.
But why are pre-purchase home inspections so important?
Should you have a pre-purchase home inspection carried out?
Since you’re potentially spending a significant portion of your savings on the purchase of a home, it’s essential that you are made aware of any potential issues and expenses that may crop up once you’ve bought the property. While there is no absolute guarantee that a home inspection will identify any areas of concern that may occur later on, they do usually offer a fantastically detailed insight into the entire property, and help you to make a more informed decision based upon the findings of a qualified professional.
During the visual inspection, all major systems of the house will be looked at in detail, such as the heating, air condition, roof, plumbing and electrical wiring, and below are just some of the issues to keep an eye out for during a home inspection:
- Structural integrity
An inspection may uncover structural issues such as uneven walls, sagging floors and cracks in some of the columns and beams; any of which could indicate that the very foundations of the house are not structurally stable.
It’s imperative that these problems are caught in time, as repairing them can end up costing you big bucks.
- Water damage
Often an indicator that the property may have bigger problems, such as a leaking roof or faulty plumbing, water damage can be a significant concern. If left untreated, water damage can lead to the formation of mould inside a home, and this can be harmful both for the property, and the health of its inhabitants.
A pre-purchase home inspection may highlight water stains on walls and ceilings, bulging paintwork, or a persistent dampness in certain areas of the property. Water damage can be costly to repair, but a lot will depend upon the source of the water, and the extent of the damage.
- Aged electrical wiring
If you’re purchasing an older home, you may find that a pre-purchase inspection brings up electrical wiring that is either faulty, or not up to code, either of which will pose problems if you plan to have modern electrical systems installed, such as heating, ventilation and HVACs. Additionally, aged wiring can pose a fire risk, and may even mean that insurers won’t provide you with adequate coverage, if at all.
- Pest infestations
Nobody wants pests in their home, as not only can they spread diseases, but they can cause significant damage to the property, too. Evidence of a pest infestation in a property might include holes in walls or floors (or both), rotten wood and rodent droppings. The cost of hiring pest control to manage the issue can vary hugely according to the extent of the problem.
One of the best ways to find an experienced and trustworthy home inspector is by working with a local mortgage broker, and since a pre-purchase home inspection can reveal the true value and condition of a home, it’s something that’s absolutely worth doing.