Before buying the house that you’ve been looking forward to owning, it is important to have the property checked out by a licensed professional. In this manner, you will be able to make sure that your money would not be put to waste.
As you read this article, you’ll be able to know how crucial it is to have a house inspection before buying the property you badly wanted.
What Is A Home Inspection?
In a nutshell, a home inspection is one of the last major steps in the process of buying your own home. In this phase, you’ll be able to flag certain issues in the house that you plan to buy before it is too late. This applies to many countries like Singapore. Before having the option to purchase Singapore properties like houses or apartments, people make sure to have them checked before signing the legally binding agreement that lets buyers hold onto the property until it is fully paid.
Home inspections are the most efficient way to assess the condition of the house. Although house inspectors would not tell you the value of the house itself, they will often disclose existing problems in the property as well as the potential issues that may, later on, affect the value of the house.
A home inspection typically includes the overall assessment of the general condition of the property which extends to the plumbing, heating & cooling systems, electrical wirings, sewage system, as well as fire safety issues. Inspectors would also examine for any insect, fire, and water damage and keep you notified about any of this information.
Remember that depending on the assessment report that includes everything – including minor and major defects – you as the buyer may decide to proceed to the purchase of the property, schedule another inspection, ask the owners to do repairs, negotiate with the homeowner regarding the price, or cancel the signed contract.
Home inspections differ from home appraisals in the way that the homeowner is the one that schedules the former, and the one buying the property sets the date for the latter. In contrast to a home appraisal that assesses the value of the property, a home inspection tells you the condition of the house but does not make notes about its value.
Hiring A Home Inspector
Hiring an inspector is an important part of the entire process of buying your own home.
You should note that taking the place of the home inspector is not a bright idea to cut costs. Always remember that inspections are one of those jobs that require professional knowledge and expertise. To help you with this concern, you could look here and gain additional information.
Your property agent may suggest a list of reputable inspectors but if you wish to look for another, you should be aware that there are some states that require certification or licensing requirements that must be provided accordingly.
You may begin looking for reputable home inspectors at the suggestions of your family and friends that recently purchased a property. You want to hire an inspector that your colleagues trust.
The next thing you want to do is to ask potential candidates about relevant questions the same with and are not limited to the following:
Do you have a license or certification?
The last thing you want to happen is hiring an incompetent house inspector with no license or any certificate. If you wish not to have an assessment that is invalidated, make sure that the inspector has been professionally trained.
Are you a full-time home inspector?
If the candidate’s answer to this question is yes, chances are high that the individual is making a living out of it and can be a strong indicator that he is good at it as many demands for his service.
Are you a member of any reputable organizations?
You can ask for a membership ID to serve as proof that your candidate is a member of reputable organizations like the American Home Inspectors Training (AHIT), the National Institute of Building Inspectors (NIBI), the American Society of Home Inspectors (ASHI), or the National Association of Home Inspectors (NAHI)
How long would it take to finish the inspection?
As a rule of thumb, It takes more than two hours to say that the inspector has thoroughly inspected the property. Anywhere below the said time may mean that the home inspector may not be doing the assessment correctly.
Do you have current training?
You want to hire an inspector that keeps his expertise up to date. This question will help you distinguish professionals that are passionate and professional with their service.
Can you provide at least three references?
You want a home inspector that has a good reputation, and you can make sure of that if you ask for the candidate’s references.
What are the inclusions of the fee?
You need to be clear and ask the candidate whether a full report of the inspection is included with the fee. You want to avoid any confusion and make sure that the fee inclusions are justifiable.
How Much Does A Home Inspection Cost?
Typically, a home inspection costs around $279 to $399. However, this rough estimation may still vary, depending on the company that will conduct the inspection, and the relative size of the house to be inspected.
In any case that the seller of the house decides to make huge repairs after your first house inspection, you may schedule a reinspection just to make sure that the owner did a great job in doing the repairs.
In looking for the best cost of house inspections, you don’t necessarily go for the cheapest choice. Remember, you do not want to jeopardize the largest investment you’ll make with an inexperienced inspector even if they offer the lowest cost in history.
What Happens During A Home Inspection?
During a home inspection, the inspector is expected to do three tasks which include:
- Identifying issues that can be found inside the house
- Suggesting solutions for the said issues
- Presenting a written report to the buyer
The assessment of the property would be of great help in requesting repairs from the owners themselves.
How To Negotiate After A Home Inspection
A thorough house inspection will help you narrow down the list of requests which you will present to the seller later on.
Once the inspections are done, you may negotiate with the seller regarding unfixed issues that were discovered during the inspections. You can also ask for a price compensation or alternate compensation. Lastly, as the buyer, you can ask for a home warranty to cover the early years of your occupancy in the property.
To Sum Up
Essentially, Inspections are a crucial part of owning a house. There is no doubt that a home inspection will cost you some time and money, but you need to see its benefits that will make your life easier in the long run.