Benefits of Pre-Purchase Inspections

A home is a major investment, and a pre-purchase inspection is a critical part of the buying process.

Think of it this way; when you become a homeowner, you aren’t just securing shelter and getting a place

for your stuff. Instead, you are selecting a property for the long-term, a place where you may raise a

family, gather with loved ones, and celebrate special occasions.

Over time, a home becomes filled with memories. Preferably, more good memories than bad. With a

pre-purchase inspection, you may come face-to-face with some less than ideal situations, including

some that could leave you stressed and regretting your investment.

Comparatively, by getting a pre-purchase inspection, you are ensuring you have an opportunity to spot

problems and have them addressed. Then, you can move forward with your purchase with confidence. If

you are wondering what the benefits of pre-purchase inspections are, here’s what you need to know.

Spotting Issues You Won’t Notice

When you prepare to buy a home, it’s normal to view a property through rose-colored glasses. You may

adore the layout or the architecture, causing you to overlook subtle things that could indicate big

trouble.

Additionally, unless you work in the construction field or a similar niche, you might not know an issue

when you see one. A lack of expertise makes identifying problems tricky, if not downright impossible.

With a pre-purchase inspection, an expert will come in to examine the property. They aren’t emotionally

invested in the process, so their opinion won’t be skewed. Additionally, they are trained to identify

problems, including subtle issues or warning signs that indicate trouble is on the horizon.

Getting Needed Repairs or Discounts

Once the pre-purchase inspection is complete, you’ll receive a report from the inspector. The document

outlines precisely what the inspector discovered, including any potential hazards, structural problems,

water leaks, appliance issues, or other defects and concerns.

With the report in hand, the buyer has the ability to address the seller regarding the results. In some

cases, the prospective buyer can request repairs based on what’s in the document, ensuring the seller

addresses any issues before the purchase proceeds.

Alternatively, if the prospective buyer is willing to shoulder the responsibility of the repairs themselves

(and the issues wouldn’t prevent a loan or insurance from going through), they could request a lower

sale price. With this approach, the buyer accepts the property in its current state but uses repair cost

estimates to justify a lower offer, offsetting what they’ll need to spend on the fixes.

Essentially, a home inspection can act as a bargaining chip. With the report, the buyer can make

requests to alter their original offer, including repair conditions or price changes.

Planning for the Future

Planning for the Future

At times, a home inspection will reveal wear-and-tear that isn’t bad enough to justify an immediate

repair or replacement. When this occurs, it gives buyers helpful information that can make it easier to

plan for the future.

For example, a detailed pre-purchase inspection includes estimated “life expectancy” for appliances and

systems. It lets the buyer know approximately when those items will need replacing, empowering them

to prepare for the associated costs.

Ultimately, pre-purchase home inspections are valuable tools. Without one, buyers may be caught by an

unexpected issue. With one, they can have peace of mind and, with homes being such a major

investment, that alone makes getting an inspection worthwhile.