It’s easy to get swept up in the excitement of buying a home. Once you’ve had an offer accepted on your dream house, you’ll probably be anxious to move in. However, before you make a significant financial commitment, make sure you know exactly what you’re buying.
When you hire a home inspector, you get a professional, in-depth examination of the property’s structures and systems. It’s a worthwhile investment that can save you money in the long run, by providing a list of deficiencies you can use to negotiate with the sellers. The inspector’s report will also list minor repairs that, if made, will help to maintain your home over the long term.
However, many buyers make mistakes during the inspection process that cost them time and money and lead to unnecessary stress. Avoid these eight common buyer blunders to minimize your risk, protect your investment, and give yourself peace of mind and confidence in your new home purchase.
MISTAKE 1: Not Performing Your Own Inspection First
Many buyers rely on their home inspector to point out issues with the property. However, by conducting your own visual assessment before you submit an offer, you can factor expected expenses into the offer price. Or, if you suspect major problems, you may choose to move on to a different property altogether.
Examine the walls and ceilings. Are there suspicious cracks, which could point to a foundation issue? Any discoloration? Yellow spots can indicate water damage, while black spots are typically mold.
To assess the plumbing, start by turning on a bathroom sink or tub, then flushing the toilet. Check for a drop in water pressure or a gurgling sound coming from the pipes. You can also try running the water in sinks and tubs for several minutes to test for drainage issues. Peak underneath sinks to spot signs of leaks or drain pipes that go into the floor instead of the wall.1
Look for fogged or drafty windows, which may need replacing. Examine the roof for signs of a dip, or cupped, curled, or cracked shingles. Check siding, decks, and other wooden structures for evidence of rot.
Overall, does the home appear to be well maintained? Unless it’s a highly-competitive seller’s market, consider the overall condition of the property BEFORE you submit an offer. Work with your real estate agent to factor in repairs and updates you know you’ll need to make when you determine your offer price.
MISTAKE 2: Hiring the Cheapest Inspector
Inspection would take place during the option period, which is often 7-10 days. Being such a short window, it is easy to feel rushed into hiring an inspector and you may not end up with your top choice if you are scheduling last minute. It is your agent’s job to help ensure that an inspection is scheduled as soon as your offer is accepted.
Save yourself some stress during this window and do your research to pick a good inspector before your home search. You can check with your real estate agent, friends, and family for recommendations first. If you are looking online, read through recent reviews before contacting your top choices.
Make sure you ask your potential inspector about their experience and certifications.
Find out what is (and what isn’t) covered in the inspection and if they utilize the latest technology. Ask to see a sample report so you can compare the style and level of detail provided. Finally, make sure you feel confident in the inspector’s abilities and comfortable asking him/her questions.
MISTAKE 3: Not Attending the Inspection
Make every effort to be on-site during the inspection and ask your real estate agent to join you. Buyers who aren’t present during their inspection miss out on a great opportunity to gather valuable information about their new home.
When attending, use your time to shadow the inspector. It’s the perfect chance to find out where everything is located, ask questions, and see first-hand what repairs and updates may be needed.3 Just make sure that you are cautious to not distract your inspector, and always make safety the top priority.
If you can’t make it to the inspection, ask to have your agent represent you, or schedule a time to meet or speak on the phone to go over the report in detail. It will give you an opportunity to ask questions or request clarification about issues in the report you don’t fully understand.
MISTAKE 4: Skimming Over the Report
Inspection reports can be long and tedious, and it can be tempting to skim over them. However, buyers who do this risk missing crucial information. Be sure to ask your real estate agent to set aside some time to review the report with you.
You should read over the report carefully, so you don’t miss anything significant. Now is the time to address any areas of concern. It is ideal to have any requested repairs completed within the option period to allow time to ensure the quality of the repair or negotiate the selling price if you opt to complete repairs on your own.
Your inspector may also flag some minor items that you wouldn’t typically expect a seller to fix. However, ignoring these small issues can sometimes lead to bigger problems down the road. Make sure you read everything in the report so you can take future action if needed.
MISTAKE 5: Avoiding Questions
Some buyers are too embarrassed to ask questions when there’s something in the inspection report they don’t understand. Afraid they might look foolish, they avoid asking questions and end up uninformed about important issues that could impact their home purchase.
The reality is, questions are expected. You hired your inspector for their professional expertise, so don’t be shy about tapping into it. Keep in mind that while they are experts at identifying needed repairs, most inspectors are not licensed plumbers, electricians, or HVAC technicians. If in doubt, be sure to hire these licensed professionals if you want to get an idea of repair costs or expected life left on the system.
Use the information provided by your inspector and their report to make an informed decision about your offer on the property, and don’t be afraid to ask your real estate agent to help you determine the best path.
MISTAKE 6: Expecting a Perfect Report
Some buyers get scared off by a lengthy inspection report. But with around 1600 items on an inspector’s checklist, you shouldn’t be surprised if yours uncover a large number of deficiencies.4 The key is to understand which problems require simple fixes, and which ones will require extensive (and costly) repairs.
Your real estate agent can help you decide if and how to approach the sellers about making repairs or reducing the price. Whatever you do, try to focus on the major issues identified in the inspector’s report, and don’t expect the sellers to address every minor item on the list. They will be more receptive if they perceive your requests to be reasonable, and it is not worth potentially losing your dream home because of minor issues.
Some buyers prefer to avoid this step altogether by completing the work themselves. They either request that the seller fund the repairs or reduce the selling price accordingly. Whichever path you choose, protect yourself and your investment by ensuring the work is done properly. To avoid delays, be specific when requesting repairs. Identify the problem, how repairs should be completed, who should complete the work, and how the repairs will be verified.7
MISTAKE 7: Skipping Additional Testing
There are times when an agent or inspector will recommend bringing in a specialist to evaluate a potential issue.5 For example, they may suggest testing for mold or consulting with a roofing expert.
Some buyers get spooked by the possibility of a “red flag” and decide to jump ship. Or, in their haste to close or desire to save money, they choose to ignore the recommendation for additional testing altogether.
Don’t make these potentially costly mistakes. In some cases, the specialist will offer a free evaluation that takes minimal time to schedule. And if not, the small investment you make could provide you with peace of mind or save you a fortune in future repairs.
MISTAKE 8: Skipping Repair Inspections
Your agent should request receipts to prove that repairs have been correctly completed. However, it’s always prudent to go a step further and have negotiated repairs re-evaluated by your inspector or another qualified professional, even if there’s an additional charge.6
While the majority of sellers are forthcoming, some will try to save time and money by cutting corners, hiring unlicensed technicians, or doing the work themselves. A re-inspection will help ensure the repairs are completed properly now, so you aren’t paying to redo them later.
WE CAN HELP
A home inspection can reduce your risk and save you money over the long-term. But to maximize its effectiveness, it must be done properly. While it is easy to get stressed during this time, you are not alone! If you have questions or concerns, make sure you reach out to your real estate agent for help.
While these are some of the most common missteps, there are countless others that can trip up home buyers, cost them time and money, and cause undue stress. Fortunately, we have the skills and experience to help you avoid potential pitfalls, and stay on schedule.
If you’re in the market to buy a home, we can help you navigate the inspection and all the other steps in the buying process! Use our experience and resources to make the right decisions for your next purchase. Contact us today to discover everything we offer and schedule a free consultation!
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