Why is a home inspection so important?

The home inspection is an essential step in part of the home buying process. The term is thrown around a lot, especially by professionals like lenders and real estate agents. So, we’re going to answer the question — why is a home inspection so important?

When you’re in the market for a home, the property will be evaluated for its value by an appraiser, who will review the size of living space, age of the home, condition of the house, windows, roof, and driveway and other parts. All of these components will be entered into a document, which will then be compared to other similar homes.

A home inspector, however, is not interested in most of what an appraiser is looking for. The inspector is there to check over the nuts and bolts of the property. Things like:

• Do the pipes leak?
• How are the grounds and grading around the base of the house?
• Is the electrical wiring up to code, and what do the breakers look like?
• Is the roof in good shape? How about the shingles?
• How well is the garage holding up, including its foundation?
• Are all the appliances in good working order?
• Do the toilets flush properly?
• Do the windows open, or are they painted shut?
• Is the crawlspace clean?
• What is the condition of the attic/basement?
• If there’s a chimney, is it functioning correctly? Does it need to be cleaned?
• Do the smoke detectors and carbon monoxide detectors work?

This is just a portion of what the home inspector will look for as they review the home. The home inspection is there for the buyer’s benefit, and it makes sure that everything is as it should be. While there may be a fee to have the inspection it could save you a lot of money down the road.

“A buyer should hire a home inspector as soon as they’ve signed a contract on a home,” says Chesapeake Bank Mortgage Loan Officer, Dianne Pillsbury. 

“The buyer should also be there with the inspector while the house is being inspected,” says Pillsbury. “Because the buyer can learn a lot about the house and the inspector will tell them a lot useful information.”

The one thing to remember is that if you don’t get a home inspection, you’re going to rely on the seller to point out the problem areas. The home inspector will inform you of any issues with the home, so you can decide if you want to move forward in purchasing the house. 

That list of items above looks pretty extensive. But there are a few things that a home inspector does not do, like:

• Poke holes in drywall to see what is hidden between the studs
• Rip up the carpet to inspect the condition of floors beneath
• Check a pool or hot tub

Additionally, the seller typically has built-in a limit as to how much they are willing to pay to cover repairs. If the home inspector finds something big, an inspection contingency could save the buyer from buying a home that is in need of repairs exceeding their budget.

Luckily for you, our Mortgage Team here at Chesapeake Bank is well-versed in the many areas of buying a home. We also work closely with a variety of agents, like appraisers, inspectors, and contractors that are all part of the home buying process. So, we can not only recommend a trusted professional, we can serve as a liaison in that relationship. We want to help you every step of the way.