7 Reasons to Never Skip the Home Inspection

There’s so much to consider when searching for a new home—scouring listings, going to open houses, neighborhood scouting and shopping for mortgage rates—it’s all a blur!

Eventually, the clouds part and a ray of sunshine streams down, illuminating—the ONE. Before you sign on the dotted line, make sure your contract includes an inspection contingency. An inspection can cost several hundred dollars, but it can save you a ton of aggravation and, potentially, thousands of dollars down the road.

A licensed home inspector will carefully examine the house, from top to bottom, checking the systems, structure and equipment for functionality and any possible problems. “Some buyers forgo a home inspection in order to make their offer more appealing to the seller. But this is a huge gamble,” says Amy Moser, vice president of mortgage services at Mountain America Credit Union. “You may get the house, but you could also inherit costly problems that you weren’t expecting.”

Here are seven reasons why a home inspection is worth the cost:

1. Identify the deal-breakers. A potential buyer is only going to be able to see what’s on the surface of a home. It may look great, but behind the walls may lurk problems with wiring, plumbing, structure or more. If the inspection reveals major problems, ask the seller to fix them before the closing date. Or, if the problems make you nervous, you can back away from the deal.

2. Bring safety concerns to light. Harmful substances, like radon, carbon monoxide and mold, can be revealed through an inspection. If these hazards go undetected, it could be detrimental to the health of everyone that lives in the house.

3. Plan for future repairs. Maybe a system or piece of equipment isn’t in disrepair, but it is close to the end of its life. A professional inspector will be able to forecast approximately how much longer it will last, allowing you to work this cost into your . Or, if it is on its last legs, this may help you to negotiate with the seller on a price reduction.

4. Reveal illegal additions. An inspection will also check for illegal additions. If this property has a basement, garage or extra room that has not been built legally (obtaining the proper permits and building to code), as the new owner, you could be responsible for paying penalties or for the cost of bringing the structure up to standards.

5. Insure the property easily. When you’re shopping for home insurance, some companies will deny coverage if the house has not had a recent certified inspection. They don’t want to insure a structure that may need unexpected costly repairs in the future.

6. Protect your investment. Most inspectors are a wealth of information. If you have the opportunity, follow them along as they inspect your property. You’ll likely pick up tips and bits of knowledge about how to properly maintain your home, its systems and equipment, potentially saving you thousands of dollars over the years.

7. Negotiating points. It’s rare that an inspection comes back perfect. Minor problems may not stand in the way of you going through with your offer as-is. However, major problems (or the potential for major problems) may make you go back to the seller and renegotiate the selling price.

A home is the largest purchase most of us will ever make. No matter how perfect your dream home looks to your adoring eyes, protect your investment by hiring a licensed inspector!

If you’re ready to embark on the hunt for a new home, be sure to visit with Mountain America Credit Union. We have all types of mortgage loans and can help you find the one that’s right for you!

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