Prepare To Hire a Home Inspector

After you’ve toured the house, you’ll need to hire an inspector to give the house a more thorough inspection. Many real estate agents will have a list of local inspectors that they recommend, but you can also elect to find one on your own. Start by looking up inspectors near you using the American Society of Home Inspectors (ASHI) directory, or your preferred local services platform, such as Angie’s List. You will want to find someone who can provide proof of licensing (requirements may vary by state) and insurance (both general liability and errors and omission coverage). These are the inspectors who will know what to look for when you’re buying a house.

 

Read Through the Inspection Report

The inspection should take no more than three or four hours, after which you will have a full report to pour over. Any potential problems will be noted on the report – usually with pictures included. Bear in mind that any home is going to have issues. The key is to identify the costliest problems before signing, and using that information to either renegotiate the selling price or walk away.

 The most common problems identified on a home inspection checklist include:

• Faulty Wiring: Wires without wire nuts, open junction boxes.
• Faulty Plumbing: Low water pressure, water stains on ceilings.
• Poor Drainage: Soggy areas in the yard, leaks in basement.
• Bad Gutters: Clogged gutters, basement dampness.
• Foundation Flaws: Small cracks, sticking doors and windows.
• Poor Maintenance: Chipped paint, worn shingles, cracked driveway.

All of these problems can be easily fixed with the right contractor, and shouldn’t be deal breakers. However, if any of the following problems are flagged in the report, you might want to have second or third thoughts:

• The Roof Needs Replacing: The average cost of a roof replacement is $7,000.
• The House Is in a Flood Zone: Use FEMA’s flood maps to determine if the home is at risk.
• Major Foundation Issues: Hire a structural engineer to determine if those cracks are actually serious.
• Aluminum Wiring: This type of wiring almost always needs to be replaced, a process that can cost thousands of dollars.

These are some of the most expensive repairs and conditions you will come across while house hunting. If any of these pop up during the course of your home inspection, be sure to consult with your real estate agent to see if the sellers can be convinced to pay for the repairs. For certain issues outside the home, such as flood zones, be prepared to pay for additional insurance coverage to mitigate your risk. 

Don’t let those potential pitfalls deter you from making an offer on the home of your dreams. As long as you keep a checklist when buying a home, and heed the findings of your inspector, you’ll be able to make a fully informed decision.