Found Your Dream Home Listed in the Market? 3 Critical Reasons to Prioritise Pre-Purchase Inspections
Finding your dream home is exciting, but it comes with its own set of hurdles. You need to choose a desirable location and then look for listed properties or homes that meet your needs. This can sometimes take time, even when you are working with professionals like a real estate agent, and sometimes the stress can be overwhelming. For this reason, most people just rush to sign the papers once they find the property they want, a mistake that should be avoided at all costs.
Once you see a listed home and like it, ensure you hire a professional to conduct pre-purchase inspections. They will examine the foundation, exterior, interior, outbuildings and shell elements to help you know the structural condition of the home you are about to buy. Pre-purchase inspections shouldn't be overlooked regardless of the circumstances, and here's why.
They Determine If the Building is Structurally Sound
Whether you're moving into an old or newly-built house, it's essential to realise that all properties deteriorate and damages may have occurred with time. It is crucial to get your dream home inspected before you buy to know how sound the structure is and if it's likely to collapse in the future.
The inspections also help you know if the building needs repairs and if it meets the outlined building standards and codes. Buying a home that doesn't conform to the set standards will force you to invest more money in it.
They Help You Negotiate the Price
Most house sellers focus more on making the most out of a sale. For this reason, it's your responsibility to safeguard your interests. When you know the condition of the house, you'll be in a better position to negotiate the price with the seller. For instance, pre-purchase inspections reveal if the electrical system needs an upgrade, there are water leaks, the foundation is cracked or the furnace or air conditioner is faulty.
If you identify such problems, you may ask the seller to fix them or adjust the price so you can handle the repairs yourself. Remember to ask the inspection conductor to estimate the repair costs so you can know how to negotiate the asking price. What may appear a minor repair could become a significant expense if a series of things need to be fixed.
They Help Identify Any Pest Infestations
Buying a home that's infested by pests unknowingly could cost you a lot in the long run. Pests are a nuisance and could cause health issues to those occupying the house. Others like timber pests and termites ruin the structure, making it unsafe and inhabitable with time. Investing in pre-purchase inspections is a smart idea because they help identify possible pest infestations and help you find an amicable solution to the issue.
As a home buyer, ignoring pre-purchase inspections is a great mistake. These inspections will help you avoid buying a home that isn't safe or structurally sound. They will also save you emotional and financial distress and confirm the home is in perfect shape before you sign the papers.