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Home Inspections Provide Invaluable Benefits

Buying a home is generally considered the biggest purchase of your lifetime. Your home will be your largest asset, one that could take 30 years to pay for. Such a valuable purchase should be made carefully and with the consultation of experts such as home inspectors. A home inspection is a visual investigation of a home � it�s structure, plumbing, wiring and all components. An inspection will assess whether the components are in functional condition and working properly. Home inspectors notify buyers of a home�s condition in a written report that recommends necessary repairs and informs buyers about the expected life span of key components (air conditioning system). Buyers can�t know everything about a home�s structural integrity, and that�s why professional home inspectors are so valuable. Don�t close on your home without an inspection � it could save you thousands of dollars and months of stress.

What Does a Home Inspection Include?

Home inspections include evaluations of a home�s:

  • Heating and air-conditioning systems
  • Plumbing
  • Electrical system
  • Roof
  • Attic
  • Insulation
  • Foundation
  • Walls
  • Windows and doors
  • Basement
  • Ceilings and floors

What Happens After a Home Inspection?

Once your inspector writes the report about your home, you need to decide your next step. If the inspector found extensive defects and necessary repairs, you can request that the seller a) fix them or b) provide you with the funds necessary to complete the task. Some sellers put list their homes for sale �as is,� and will not agree to make repairs; others are quite willing to negotiate on the repair terms. Your Realtor should provide counsel on the best strategy for repairing the home and moving in with peace of mind.

Should I Be Worried About My Home�s Condition?

No home is perfect. Just think about the home you live in currently: Does the toilet flush properly? Is there a window latch that�s broken? Do the ceiling fans work properly? Does the air conditioning always work? These are some of the reasons home inspections are necessary. Your inspector will inform you as to the condition and extent of the defects. Buyers opt to have their homes inspected for security � you�ll know your home is sound and ready for move-in after your inspection is complete.

The Benefits of a Home Inspection Include:

  • Peace of mind after closing

  • Careful inspection of the home by a trained professional prior to closing

  • Negotiable terms after the report is written

  • Buyers are less likely to purchase a �lemon� home

  • Reduces the number of inevitable surprises that arise when moving into a new home

  • Knowledge about the long-term life for your home�s major appliances and components, such as heating and air-conditioning systems

  • Potential to save thousands on the costs of repairs and estimates, not to mention lost time and stress

National Rate Averages

Mortgage Rates

Product Rate
5/1 yr ARM 3.147%
1 yr ARM 3.299%
15 yr fixed 3.221%
30 yr fixed 3.815%

Home Equity Rates

* Updated Jun 8, 2012