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New Home Budget - Get A Home Inspection Piggy Bank

New Home Budget – Get A Home Inspection

We are often asked at Top Inspectors, “how much does the inspection cost?”. This is a valid question, especially when you are saving or preparing to buy a new home. However, the question I like to ask in return is, “how much will it cost you if you DON’T get an inspection?”. One of the best things you can do to prepare yourself and to create a new home budget is get a home inspection.

Knowledge is power, and when you are buying a home, you want as much knowledge as possible. No one wants to live in a home they know nothing about. It can be nerve wracking to be in the dark. “How long will my A/C last? When will the water heater stop working?”. These are questions that every home owner struggles with at some point. But, you don’t have to be confused or in the dark. You can take care of your home and your peace of mind at the same time!

Every responsible home owner in a new home creates a budget. The first part of that budget should be a home inspection. Don’t walk into your new home blind, take control of your future.

Specific ways a home inspection can help you budget

Saving money is great for your budget!

New Home Budget - Get A Home Inspection Green Piggy Bank and Calculator

In one of my last posts, I spoke about how much money the home owner actually saves from getting the home inspection. The amount of money saved from the knowledge gained from a home inspection would surprise you (the average is around$14,000!). You can read that article here, as well as the Porch Analysis.

Plan for the future

Obviously budgeting is all about planning. Having useful knowledge about the current condition of systems in your home can help you create a plan to replace or service systems in the future. Knowing a rough estimate of system lifespans can help tremendously when saving.

New Home Budget - Get A Home Inspection Whiteboard

Create a maintenance plan with your home inspection report

New Home Budget - Get A Home Inspection Maintenance

A good maintenance plan implemented now can save enormous headaches and costs later. Most home inspectors have a very good working knowledge of your home systems and can typically recommend good maintenance practices or programs. It is better to maintain your home now than to have to costly repairs later.

These are just a few of the many ways that home inspections can save you money. A few years back, Top Inspectors had a client call in and ask a slough of questions about home inspections. But, in the end he decided to wave the home inspection because he was trying to save money. His Real Estate agent recommended strongly that he get the home inspection, but he would not be swayed and they went through with the purchase (after he signed a waiver refusing the inspection). Within six months his HVAC system failed and it ended up costing him thousands of dollars in repairs and updates.

Get a head start on your new home budget and don’t leave it up to chance. Get a home inspection before you buy!

Do I Really Need A Home Inspection

Do I Really Need A Home Inspection?

Do you really need a home inspection? Last time we talked about if you could do your own home inspection. While technically in some cases you can, it really isn’t recommended by most professionals in Real Estate.

This time, we will explore another reason why you should have your home inspected by a licensed inspector. I want to state again that all reasons are not equally important, so please don’t think one is more so than another. I just want to give you an idea of what home inspectors do and the value they provide.

#2 A Home Inspection Protects Your Investment

A Home Inspection Protects Your Investment

For most people, buying a home is the biggest investment they will ever make. Having a home inspection before purchasing is crucial! You don’t want to buy a “money pit”. It took a lot of work to get where you are and you want to make sure you are investing in something that will take care of you as you take care of it.

Most buyers will pay between $200 and $500 for a home inspection. An analysis from Porch.com reveals that price more than pays for itself in the long run. The report even states that a home inspection saves the average buyer around $14,000 on their purchase.

In the report it says, the average list price before an inspection is $226,600. After the inspection, the average closing price goes down to $212,400.

Home inspections are extremely prudent investments, and can save buyers from unforeseen fiscal challenges. Revealing necessary repairs, agents can negotiate thousands off the price their clients might have had to pay.

A professional inspection is very valuable and can definitely help you navigate through one of the biggest investments you will ever make. Don’t take the chance on your investment. Hire a home inspector!

Why Do I Need a Home Inspection?

Can I Do My Own Home Inspection?

Can you do your own home inspection? The simple answer is yes you can. However, we don’t recommend it, and your real estate broker or other professional most likely won’t either.

In the weeks to come, we will explore why you should have your home inspected by a trained professional. These reasons are not necessarily in order of importance, so please don’t think one is more crucial than another. This will just give you an idea of what home inspectors do and the value they provide.

#1 Home Inspectors Can See Problems You Can’t

The majority of home inspectors (with a few exceptions based on safety) will walk your roof, traverse through the attic and if you have an older home, army-crawl through the space underneath the home known as the crawlspace (yes I said army-crawl). Most home owners or home buyers are not willing to or even know how to enter and get through these spaces properly and safely. Home Inspectors are trained to do these things and do them on a daily basis. Many do this multiple times a day. Don’t worry about getting muddy and dirty in confined spaces or risk your safety walking your roof. Just let the home inspector do it for you, that’s what they’re paid for!

Why Do I Need A Home Inspection on My Roof?
Why Do I Need A Home Inspection in My Attic?

Another thing to consider when contemplating inspecting your own home, is that there may be issues that you can see wide out in the open that don’t require you to enter any confined spaces, but you may not know they are issues. Home Inspectors are trained and have a lot of experience “seeing” things that others can’t or don’t. Many people don’t know that certain conditions inside an electrical panel or forced air furnace can be serious safety hazards. Usually these conditions are not obvious to the casual observer.

Stay safe. Hire a home inspector!

Should I Get A Home Inspection On My Brand New Home?

Having your home inspected by a professional, licensed home inspector is a very important step when buying a home. This still holds true if the home is brand new and no one else has ever lived in it before.

I worked as a contractor and carpenter for an independent home builder for many years before becoming a home inspector. When a home is being built, there are a lot of moving parts. There are dozens of different contractors working together to build the home. From the foundation to the framing, and from the electrical to the plumbing. There are typically different contractors or specialists building or installing the systems and components that pertain to their area of expertise. What happens when all these different specialists are all working at the same time is that sometimes, things get overlooked or just forgotten. Remember, a home is a very complex system.

Many times, the general contractor, the one in charge of making sure everyone does their jobs properly and at the right time, will make what is called a “punch-list”. This is a list of items or projects that need to be completed before the home is finished. Unfortunately, all the things on the list don’t always get done before the home goes on the market.

I recently inspected a brand new home and found several things of interest that would definitely benefit a buyer to know before buying the home. Let me show you what I found.

First, I found that as with many Florida homes, there were no gutters on the lower eaves of the home. Gutters carry storm water away from the home and prevent soil erosion and foundation settlement. To read more about gutters click here.

No gutters on this new home
Soil erosion caused by lack of gutters

After that, I found some stucco cracking under the windows. The cracking was still pretty small, but was beginning to spread just behind a sprinkler head. These heads are notorious for getting broken or twisted so they point backwards. With the stucco beginning to crack behind the sprinkler head, it was only a matter of time before water got inside the wall.

Stucco cracking on a new home

While I was inspecting the exterior, I noticed that none of the windows had screens. This can be fairly common on new homes. Sometimes the screens are stored in the garage or in a shed. Nevertheless, it’s always important to know if they are present and accounted for. I was not able to find any screens on the property.

No screens on new home
No screens on new home

Around the back of the home on the underside of the eaves, I found two open electrical boxes. I assume these were in place for light fixtures, or maybe even power for cameras. But, in the current state, the open boxes could be a safety hazard or could just become damaged due to weather.

Open electrical box on a new home
Open electrical box on a new home

When I was inspecting the garage, I found that the fire-rated service door from the garage to the home was equipped with auto-closing hinges. However, the hinges were not working properly and the door just stayed open when swung. The auto-closing hinges keep the fire wall in place between the home and garage in case there is ever a fire in the garage.

Auto-closing hinges are not working

Last I inspected the bathrooms and found that the hallway bathroom fixtures were very loose and poorly secured at the shower wall. I also found that one of the faucets in the master bathroom was not functioning at all.

Loose fixtures at shower in new house
Faucet not working

Overall, home inspectors do typically find much less deficiencies in new homes over older homes. But, you never know what the situation may be. I once found a serious structural defect in a brand new home.

In closing, even if the home is brand new and no one has ever lived in it before, you definitely should still have the home inspected by a professional and licensed home inspector. You are making a huge investment. You want to know what you are buying.

What is a Home Inspection? What to expect.

Congratulations you have put an offer on the home of your dreams! Now you need to get a home inspection. What does that entail and why do you need a home inspection before buying your home? I’m so glad you asked! A home inspection is the first step in negotiating to get the best of your new home as possible. Your awesome real estate agent will be there to assist you and will use the home inspection reports findings to know how to proceed. A home inspection will also help you know more about your new home and give you a clear picture of the condition of your home. Giving you peace of mind to navigate this home buying like a boss!

What does a home inspection look like?

You can view a sample report on most home inspectors’ websites.

What is inspected?

  • Exterior
  • Interior
  • Foundation
  • Roof
  • Attic
  • Window and Doors
  • Plumbing
  • Electrical system
  • HVAC systems
  • Fireplace
  • Crawlspace or Basement(if one is present)

What is not inspected in a normal home inspection? The following are a few things:

  • Courtyard walls
  • Inside walls
  • Landscaping
  • Play equipment
  • Fountains
  • Irrigation systems
  • Mold
  • Radon
  • Sewer lines
  • Pools/spas
  • Termites

Add on services?

Some home inspectors will charge an extra fee for these items if they include them as part of their services.

  • Mold inspection
  • Radon testing
  • Termite inspection
  • Sewer line inspection
  • Four point inspection
  • Wind meditation
  • Pool/spa inspection
  • Irrigation system inspection

Do I need a home inspection? What is its purpose?

You’ve taken the first step and are doing your research. Let’s be honest buying a home is a big decision and we want you to walk in with your eyes open and the lights on! Home inspectors are there to help you do just that. You have a team of professionals and the home inspector is an important member of that team! It is the inspectors job to help you understand your home. That way you can make the decisions based on what they find. Home inspectors are sometimes put into the negative light because they let you, the home buyer know the defective items or items that need maintenance. That is a good thing! They are there to make sure you have peace of mind walking into your new home. No home is perfect but, your home inspector helps you know how to handle those situations and which professionals can help you along the way!

How much does a home inspection cost?

If you do a quick search on the internet it will tell you it is between $350-$400 for a home inspection. This can be misleading as most home inspections may be more depending on the homes age, size and if you need add on inspections such as mold or wind mitigation. Calling home inspection companies and getting quotes is the best way to find out what they offer and what inspection types they perform.

You can’t put a price on yours and your family’s safety.

How long will the inspection take?

A home inspection takes 2.5-3 hours depending on the home. It could be longer when adding other inspection types or if it is an older or larger home. Your inspector will be going through the home inspecting all the accessible and available systems in the home. They will be taking pictures and reporting on their findings. Once the inspection is completed the inspector will give a review of their findings and then will email the full report.

Conclusion:

A home inspector is a highly trained professional and will give you his expert advice on the condition of the home at time of inspection. Their reports will help you decide what to ask your realtor to negotiate and how to move forward in the transaction.