Thursday, July 2, 2015

The Importance of a Property Inspection

Does anyone know the average price of a property inspection? I called around and in reality the average price of a property inspection is under $500. In reality, is that a lot of money in comparison to purchasing something for hundreds of thousands of dollars?
The most common issue found during an inspection is improper surface grading and drainage. That means that in some homes water drainage runs too close to the foundation. When that happens it can cause obvious damage to the integrity of the home itself. This can be very expensive to fix but is better to fix than to ruin the home altogether. Home inspectors can identify that issue for you that you wouldn’t find without. If you are able to identify the problem prior to purchasing a home it can save you THOUSANDS in repairs.
What about a roof? Same thing applies. For a minimum fee prior to purchasing, your inspector can and should identify any issues with the roofing system that would/could result in a lot of money for repairs.
Obviously you’ve heard of several stories of issues with termites or the structural integrity of a house. An inspector can/should identify any issues along these lines that you’d want to find out PRIOR to purchasing your home. If not you are looking at thousands in repairs that you may not have budgeted but also you can’t live in a home with unresolved structural issues.
One thing that I always suggest is that the heating and cooling systems are really looked at. Both are a major monthly expense that you want working at their peak at all times. By not having those things inspected you may be costing yourself money each day that could’ve been identified and fixed rather inexpensively if caught early enough.
Anyway, if you are looking at a rental property to purchase then make sure you get a quality inspection done. It will save you so much money and headache. Sure you may find that the house is 100% fine, but that piece of mind is great to have.

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