Things a Buyer Should Know about Home Inspections

By McMurter Team of McMurter & Associates posted on Tuesday, July 7, 2015.

You've found your dream home and you're ready to put in an offer, but there are multiple offers and you have been advised that your clean offer will seem more attractive to the seller; clean meaning no conditions. A common condition buyers include in an offer is a home inspection, and rightfully so. In today's hot real estate market there is pressure to skip the home inspection.

Steven Spencer of All Systems Home Inspections suggests that as a purchaser, having a home inspection conducted is a must. Buying a home is the one of the most expensive investments a person can make. As a home inspector, Steven will look at all of the home systems in an unbiased way. A home inspector's assessment should never be affected by the 'wow' factor of a home.

When repairs or deficiencies are found recommendations should be offered from your home inspector on how to address the issues as well as approximately how much it will cost.

In Ontario there is no regulatory body governing home inspectors, so it is important to ask questions of your inspector, such as "are you a member of any association." As a member of PHPIC (Professional Home and Property Inspectors of Canada), inspectors are bound by a code of ethics, and must carry the proper insurance.

It's becoming more common to waive the condition of a home inspection resulting in home buyers being disappointed with extensive repair costs shortly after they move into their dream home. In a National Post article, Mike Holmes describes the potential result of skipping on a home inspection: "You can end up buying a can of worms that will cost you tens of thousands of dollars to fix."

You can read the rest of the article here.

If you choose to opt out of a home inspection, as the buyer, you will not have any recourse if you find problems down the road. Even people in the construction business do not have the general knowledge of all facets of house construction and maintenance. Getting an inspection gives you, the buyer, an excellent starting point for a maintenance plan for your home.

Watch for the next step in the home buying process; everything you need to know about house insurance.

For more tips on purchasing a home, you can read our blog or contact us and we can provide you with the right steps you need to take when purchasing your home.