When the housing market becomes competitive, many forego Home Inspections as a means of gaining an advantage in the bidding process. Others opt out of their Home Inspection clause as a means of saving money.
Not completing a Home Inspection may ultimately put you at a disadvantage and become a costly decision. As noted in the Toronto Star, “…an inspection wasn’t done and the discovery of problems with the roof meant $10,000 in additional costs for the buyer. Given the risk, you might want to ask yourself, ‘Can I afford not to have an inspection?’”*
A Home Inspection is a Wise Investment for the Following Reasons:
- A trained individual is performing a comprehensive evaluation of over 400 systems and items in your home
- It allows you to feel confident in the decisions you’re making in regards to your property, especially during negotiations.
- A Home Inspection can make you feel more secure about one of the biggest investments of your life.
- Educates you about your property and how to properly maintain it
Home Inspectors often identify issues that may or may not be apparent to the untrained eye. Carson Dunlop has developed an interactive tool to showcase what our consultants found to help educate our clients about their home. To try out this interactive tool click here.
Here are some key areas where home inspectors often can help:
It can be difficult to get onto a roof, and even if you do venture up there, you may not know what to look for. The picture below demonstrates one of the many things Home Inspectors are knowledgeable about: water management. Something as simple as a missing downspout extension can cause major expenses down the road. Excessive water runoff down this portion of the roof will cause premature aging.
Home buyers rarely venture up into this space, but it can be a good indication of issues with insulation, ventilation or further issues related to water damage. A Home Inspector will notice the darker wood and will conclude there is evidence of a leak. Again, this is likely something you would want to know (and the approximate cost of getting it fixed) before purchasing your new home.
The attic and the roof are just two of the areas that a Home Inspector can help with. Home Inspectors may also identify issues with any of these components of a house:
- Electrical System
- Heating and Air Conditioning System
- Plumbing System
- Insulation and Vapour Barriers
- Mechanical and Natural Ventilation Systems
With all your hard-earned money going towards purchasing a home, you want to ensure your investment is a good one. This is where a Home Inspection can help. While a Home Inspection is not a guarantee, it does help to mitigate risk and it also means a pair of trained eyes will take a closer and more analytical look at your future home.
Want to learn more? Real Estate Council of Ontario has a great video, entitled “Do you know what you are buying?” that you can view here.