5 Benefits Of Home Inspections for First Time Home Buyers

What is a home inspection? Home inspections provide meaningful, valuable information for homebuyers thinking about investing in a fixer upper property. Still, at a cost of $350 to $550 per inspection, some home buyers consider skipping the inspection to save money. Knowing what to expect from a home inspection for your Northwest Edmonton home can help you decide whether or not one is needed for the property you'd like to purchase.

Consider the Results

A capable home inspector will reveal issues about a property that the homebuyer should consider before finalizing the purchase. In some cases, a property may need more time and attention than the homebuyer can realistically give, particularly on the budget of a first-time home buyer.

This may be especially true for homes with foundation problems and roof problems, because both can be expensive to fix and can make life difficult in the interim. Identifying these issues from the beginning can help ensure that the home buyer is ready for what lies ahead.

Negotiate Repairs

If there is an inspection contingency in the contract, repairs made by the seller can be negotiated. The home inspection is the first step to negotiating with a seller. With an inspection from a reputable inspector in hand, home buyers can request repairs to ensure that the home is move-in ready when the purchase is finalized.

Make A To-Do List

If there are problems with the home that are not repaired by the seller, a good home inspection will serve as a to-do list for the home buyer. The inspection will help to determine which problems need to be tackled first upon moving in and which repairs can wait until later.

Knowing what needs to be done immediately upon move in can help the buyer make headway on chores like interviewing contractors, buying supplies, shopping for appliances and so on. This home inspection list prevents the homebuyer from wasting time after the house has been officially purchased.

Establish a Budget

To ensure that the buyer will have the resources to make repairs, it's essential to establish a budget so that they are capable of working within their means to make their new house a home. It isn't uncommon for home buyers to want to personalize a new home to make it unique to their own tastes. Once the home inspection is complete, the home buyer can use the report to work with contractors and suppliers to determine an approximate cost for the work that must be done. If money must be borrowed to make the repairs, this information can help the buyer determine how much to borrow.

Work With Your Agent

Your real estate agent can answer any more questions you might have about how to prepare for a home inspection, and if need be, can help you decide whether or not an inspection is right for you. To learn more about what to look for in a home inspection, contact your real estate agent or contact a reputable home inspector in your area.