The Value of a Home Inspection

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The Value of a Home Inspection

Why Is a Home Inspection Important?

A home inspection is protecting the buyer of a home by providing a detailed evaluation of the property and how well every part functions in it. It also gives the seller an idea of items they weren’t aware before. Depending on the items on the home inspection, this can alter the price of the home, or provide base for further negotiations between the two parties.

Ways Home Sellers Can Prepare for A Home Inspection

Realtor Magazine suggests several steps that will make the home inspectors work easier. Most of these suggestions focus on easy access to areas he or she will inspect.

  1. Make things accessible including crawl spaces, attic and closets. A home inspector should not have to move your belongings around to be able to access things.
  2. Be up front about things that don’t work, and share your plans of when and how you’re planning to fix those.
  3. Make sure every light bulb in the home works. Otherwise, the inspector will have to figure out if it is the outlet that doesn’t work or just the light bulb burnt out.
  4. If you’ve upgraded some of the features, like the roof, the kitchen, installed a new dishwasher or repaired a faucet, providing the paperwork will give a piece of mind to the buyer.
  5. Clear around bushes in the backyard to provide easy access to examine the outdoor areas.

Uncover Issues That Can Be Dangerous or Pricey

Depending on the age and condition of the home, there can be a long list of items that the inspection will bring forward. Some problems need to be taken more seriously than others, especially structural ones. At the end, what affects the home appraisal is not how many problems the home inspector found. What’s more important is how critical those problems are.

According to HGTV’s Property Brothers, there are five issues that buyers should be aware of.

  1. Mold – look for musty smells as you enter the home. Mold can be difficult to get rid of, and it is a health hazard. Both water leaks and poor air circulation can cause it.
  2. Pests, like termites can cause hidden structural damages
  3. Drainage issues can point to underlying problems; test the sinks and the toilets and watch the drainage.
  4. Improper Do It Yourself jobs: make sure the previous home owners “improvement” work doesn’t violate any codes
  5. Faulty wiring – old fixtures and wiring can cause fire hazard, be aware of these.

According to 5280 Magazine, typical issues that come up in home inspections in Colorado and the Denver area are vertical and horizontal cracks, and existing roof conditions. Both of these relate to our weather. Weather affects our Denver housing market. Experts suggest that vertical cracks are minor issues, and each of those can be prepared under $100. However, horizontal cracks need to be examined more thoroughly by a specialist. Roofs get affected by hail, among other elements. If you’re purchasing a home with a roof that’s more than 10-12 years old, you should negotiate a roof-replacement credit in the price.

 

A Home Inspection Well Done

The home inspection has served its purpose well, if the buyer paid the fair value for the home and didn’t discover any unpleasant surprises after the purchase.

 

Written by Monika Anderson

Corriere Group team member

 

Resources:

http://www.raredaily.com/home-inspection-affect-appraised-value/

https://magazine.realtor/daily-news/2013/08/22/5-inspection-problems-buyers-shouldn-t-ignore

https://magazine.realtor/daily-news/2013/04/17/5-ways-sellers-can-prepare-for-a-home-inspection

https://www.thebalance.com/get-ready-for-a-home-inspection-1798690

https://www.5280.com/2018/04/real-estate-guide-2018-upon-further-inspection/

By |2018-07-02T09:04:21+00:00July 2nd, 2018|Home Buyers, Home Sellers|0 Comments

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