Home Inspection 101 – What are the Advantages and Who Should Get It Done?
Home inspection is an essential part of the home buying process and should never be ignored. You can save significantly on your moving costs, Canada mortgage payments and future maintenance expenses if you pay due attention to home inspection.
Getting home inspection done by a reliable and experienced professional can ensure that you are investing in the right property and are paying the amount that the property is worth for.
Wish to know more about home inspection and what responsibilities do the buyer and the seller have in this regard? Keep reading to find out.
Why Should a Buyer get a Home Inspection Done?
It is never a good idea to skip inspection – instead, it should be the first thing on your mind when you look at a property listing. When you are completely satisfied with the home inspection, only then you should go apply for a Canada mortgage.
Some of the main advantages of getting a home inspection prior to locking into a mortgage rate include:
- You can address hidden issues like dampness, mold and mildew in the basement and roof.
- You can check on the plumbing electricity wiring to save on additional expenses in the future.
- You can assess how much you will have to spend on the repair and maintenance, as it is rare that you get a perfect inspection. There is always something or the other that you will have to do in the house before you move in.
Why Should a Seller get a Home Inspection Done?
Although it is the main responsibility of the buyer to check for any maintenance needs and decide whether or not they should have a home inspection, sellers can also benefit from this process and increase both the value and curb appeal for the home.
- You can attract more buyers and raise the property price as it becomes more enticing in the market.
- Home inspection and repair beforehand can lead to a quicker sale of your property and you do not have to wait months to find the right buyer.
- You can take care of any serious drawbacks to your property and make it more appealing for the buyers.
- You can be in control of the entire deal and most likely get it signed on the price that you asked for.
Although it may be profitable for you as a seller to touch up the property and make it more attractive for the buyer, don’t go overboard and spend too much on extensive repairs. Any unreasonable demands from buyers should not be entertained as they can bring down the cash benefits that you are gaining through the property sale.
The Importance of Hiring a Professional Home Inspector
Getting professional help when you are going for a home inspection is an absolute must. However, make sure that your chosen home inspector is qualified and experienced. You can take help from the official Canada Association of Home and Property Inspectors website in this regard.
A good inspector will communicate properly and explain you in detail about the maintenance needs and repair requirements of you house. However, at the end of the day, it is your responsibility to assess all your costs before you get a Canada mortgage.
With the right planning and expert guidance, you can always make a good decision regarding the home inspection and the mortgage rates!