At the start of the pandemic, new homebuyers were leaving their small apartments or homes simply for a change of scenery. Amid the crushing boredom of the lockdown; people started scrambling to buy a home, bidding wars ensued across the region, and inventory began to diminish.
However, some homeowners are now beginning to have buyer’s remorse shortly after moving in. That’s because they didn’t realize just how many unexpected issues their new home had. All because they panicked and didn’t take the time to do their homework before making an informed decision and offer on their new home.
However, a home, unlike a piece of furniture or an expensive car, can’t be returned if a buyer is unhappy with it. If you are thinking about skipping your home inspection, think twice before you act. Here are four reasons why you shouldn’t skip your home inspection and should reconsider before it is too late.
1. There Could Be Safety Hazards
One reason why you shouldn’t you skip your home inspection is you might move into a home unaware of any significant defects that could impact your health or harm your family’s physical safety.
The home inspection is more than just a visual examination of a home. It includes a detailed examination of a home’s major systems. The major systems include the foundation, structure, HVAC, plumbing, electrical, and roof. In addition, the inspector also looks for any significant safety concerns. Some safety issues can induce things such as faulty electrical wiring, structural and ventilation issues that can threaten you and your family’s safety. They will also be mindful of things that pose a threat to your security- such as faulty locks, broken garage doors, fencing, and other things that threaten your physical safety.
2. Reasons Why You Shouldn't Skip a Home Inspection- There Could Be Threats to Your Family's Health
By opting out of your home inspection, you also run the risk of exposing your family to serious health issues. Your new home may have radon, which is linked to lung cancer, the second leading cause of death. In addition, if your home has poor indoor air quality, it could be a sign that your new home may have mold. Mold can cause serious health problems either for yourself or a family member over the long term.
3. You Could End Up With Costly Repairs
One of the major reasons why you shouldn’t skip a home inspection is that when you purchase a home as-is from the seller without a home inspection, you may discover that shortly after moving in that there are significant repairs needed that you will need to pay for out of pocket. Some of these repairs could include water damage caused by a leaky pipe, a clogged sewer line, or a cracked foundation that may require immediate repairs that you failed to budget for and can cost you thousands of dollars above and beyond your purchase price.
When you work with a home inspector, they can help bring these types of defects to your attention. They can also include information about these issues in a home inspection services report. The inspection report can used to negotiate with the seller or budget for future repairs.
4. Reasons Why You Shouldn't Skip a Home Inspection - You May Not See a Return On Your Investment
We understand that it is a seller’s market and you may feel compelled to bypass your home inspection contingency to make your offer more attractive to a seller in order to purchase the home you want. However, is what you consider your dream home truly the right home for you? After all, buying a home is one of the most significant investments that you will ever make. If you want to ensure that investment is a good one, you need to find out whatever information you can learn about your dream home before going all in.
You should know things such as how old a homes roof is. Does the roof need to be replaced anytime soon and what about the homes HVAC system? Is it time to replace it, or will it last you another 15 to 20 years? What about renovations? Did the previous owner upgrade the bathroom or replace the cabinets? Are appliances in the kitchen new as well? Buying a home is a huge commitment, and you should be as thorough as possible and avoid rushing into things too quickly.
When you work with an inspector, they can help you to understand the existing condition of a home better. They can also answer questions you have about repairs or things that may need to be replaced sooner than later. This type of information can help you accurately assess unexpected costs and the home’s future value. You can’t make a sound investment without knowing all the facts. A home inspection is designed to paint a complete picture for you. It can also help you to understand a home’s actual cost as well.
Think Before You Act
Opting out of the home inspection may make your offer more appealing in a competitive market. Although, without knowing the whole picture, your dream home could turn into a MONEY PIT!