Home inspection tips for first time buyers
If you are in the process of purchasing a new home, it will definitely be in your best interest to have a home Inspection done.
Not only will you want to have a home inspection done for your own sake, and peace of mind. But most lenders will require that you have a home inspection before they will proceed with the loan. The lending institution has just as much interest in the home as you do, so that is why they require a home inspection.
Getting a home inspection requires hiring a company to send out a home inspector to go through the home you are going to purchase. With you present, the home inspector goes through the home, and thoroughly inspects to make sure nothing in is need of major repair that cannot be seen with the naked eye.
Basically, a home inspector goes through a home and checks wiring, fixtures, plumbing, and the foundation of the home to make sure it is structurally sound. He will also inspect the outside of the home along with the roof to make sure there isn’t any exterior damage.
Home Insurance Inspection Checklist
- Moisture in Walls and Floors may deteriorate materials and attract insects – so beware!
- Inspect Roof and Chimney – Are the shingles rotted? Bricks in good condition?
- Electricity – Check to see if circuit breakers and systems are changed and up to date
- Heating & Cooling – Are systems efficient and up to standards?
- Foundation – Is it solid? Is structure crumbling or good for another ten years?
You can find more detailed checklist at Countywide Home Inspections website
Along with the home inspection, it would also be in your best interest to inspect for wood boring insects, such as termites and beetles.
A pest inspection is also required by the lender before they proceed with a loan.
A pest inspection is done separately from the home inspection and is done through a different company that specializes in pest inspections.
Not only are home and pest inspections required by the lending institutions, but it would be in your best interest even if they were not. They cost anywhere from $300.00 to $400.00 depending on the size of the home, and you are allowed to be present and ask questions through the entire inspection.
In addition, once you have a home inspection done, you will have peace of mind that the house is sound and in good living condition. However, should anything happen to go wrong after you move in that was covered under your home inspection, you will have the home inspection company to hold accountable for the damage, and not have to pay it out of your own pocket.
To summarize, the home inspection is very important to both you and the lending institution. You both have an interest in the property, so have the home inspection done, you will sleep a lot easier.
The post Do You Need A Home Inspection? Home Inspection Tips for First Time Buyers appeared first on Moneywise Family.
