One of the ways you can make sure your home purchase is fruitful is through a thorough home inspection. This can help you identify any underlying issues that may cause the immediate devaluation of your real estate purchase. Though having to go through an inspection phase in your search for a new property might be tedious and frustrating, the benefits definitely outweigh these minor inconveniences.
Discovering something in the home inspection is one of the leading causes of real estate contracts not being settled as shown in a survey of over 4,500 realtors. And with over 72% of homeowners satisfied with the work of their home inspector in helping them avoid potential issues, it is not something that can be ignored.
How it works
A home inspection is conducted by a qualified and trained inspector. It involves a visual inspection of the spaces in the property. Home inspectors are mandated in certain states to provide a pre-inspection agreement and an inspection report. After this report is completed, the homebuyer can then make a decision based on what was gleaned from the process.
The value of the property can be greatly affected by the outcome of such an inspection, as a homeowner can make an accurate offer matching the actual value of the house.
What you should look for
Over 75% of real estate contracts examined in the aforementioned survey contained contingencies regarding things discovered during home inspections. The importance of hiring one cannot be overstated, but what qualifications should you look for in a potential inspector?
In the state of Florida, a home inspector must comply with certain requirements and regulations put forth by the Florida Department of Business and Professional Regulation. It is also necessary to ask for the various educational achievements, training, and certifications your prospect might have.
How you can further protect your prospective investment
It is also important to hire a home inspector who only offers inspections, to make it certain that there is no conflict of interest in the process. Most of these professionals also make recommendations based on only the most necessary repairs, and not improvements.
Another option you might want to consider is a home inspector that is bonded or insured. In the event that a conflict of some kind occurs, the insurance or bond that the professional you hired has can give you an additional layer of financial protection.
And as much as possible, try to be present for the process. It can help educate you more about the property and give you a better understanding of home values as they are determined by the features of a property.
In conclusion
At the end of the day, a home purchase is an investment. As such, it is important to pay only the right value for it and to maintain its resale value. One of the best ways to do this is to hire a home inspector, who can scout out the necessary repairs you would have to make in order to bring the house to its best state.
And if you’re looking for a Florida-based home inspection company, send us at Oceanside Home Watch a message. We have the best professionals in the field to help you with your next home purchase.