Buying a home is likely one of the largest, if not the largest, financial purchases you will make in your lifetime. When looking at your budget, the cash you’ll need for a down payment, closing costs, perhaps new furniture and more, you may be tempted to save money where you can. As part of the home buying process, you’ll want to have your home inspected prior to finalizing the sale. When you’ve found the home of your dreams and are eager to move your family in quickly and also to save money wherever you can you might consider skipping the inspection. Is a home inspection really important? Are they really necessary? Read more to find out!
What is contained in a home inspection?
Home inspections are a routine and important part of the home buying process and are conducted by trained and licensed professionals. A home inspector will conduct an on-site visual inspection of your prospective home and inspect all the major systems like heating, plumbing and electrical systems. Your local state law will likely require the inspector to give you a written copy of his/her final report and your mortgage documents and mortgage contract may also require the inspector to give you a copy of the final report.
A home inspector is likely to inspect and evaluate for you the following items in a home, at a minimum: the roof and roofing systems, the foundation and other structural components of the home, siding, porches, balconies, driveways, the electrical system, the heating and/or cooling system, walls, ceilings, floors, windows, doors and doorframes, insulation and ventilation and a fireplace (including the chimney and vents) if the home has one. As you can see, the number of items they will evaluate and check is quite extensive.
Can I skip an inspection?
Even if you might legally be able to skip or opt out of a home inspection, you absolutely shouldn’t. A home inspection is one of the best and easiest ways to protect your future purchase and your financial future. What if you opted out of a home inspection and bought a home only to find out after moving in that it had major structural issues that would require extensive and expensive repairs? Spending a little money and time now on a home inspection can give you peace of mind and protection for years to come.