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!
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.
Create a maintenance plan with your home inspection report
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!