If you’re wondering if you need a home inspection, I’m here to tell you that the answer is ABSOLUTELY YES. Let’s look into why a home inspection is so important in the home purchasing process.
A home inspection may be the only insight you have into the physical condition of the home. Other than a couple of tours through the home, any information your realtor may have about the home, and anything listed on the web listing or in the property disclosure, what do you really know about the home? Do all the plumbing fixtures work? Is there old, outdated plumbing material? Does HVAC function properly? Are there electrical issues present that may be a fire safety? Are gas appliances vented correctly? What about signs of structural problems? How’s the roof? These are just a few examples of the information you’re lacking without a home inspection. Click HERE to learn more about what is covered in a home inspection.
The average selling price for homes here in central Arkansas is currently around $230,000. The average home inspection price is $400. That makes the inspection fee 0.17% of the investment. Compare that to the 5 -6% that will be paid in realtor fees. Good realtors work very hard and are well worth the pay, but what about a good inspector? What value does a good inspector bring. After the inspection, you now have some insight into the condition of every major mechanical system of the home. What is that worth? When you consider the value of the assessment of your investment you receive from the inspection, $400-$500 doesn’t seem like much.
What’s In A Home
One often overlooked benefit of a home inspection is the opportunity to learn about your investment. The inspection can provide beneficial information about the home’s systems and how they work and how they should be maintained. How does your heat pump work? How do you maintain the septic system? Where is the main water valve? Where is the electric disconnect? How do GFCI and AFCI breakers work? Gaining answers to these types of questions will allow you to use and protect your investment longer.