Buying a home can be one of the most significant times in your life. Maybe you are making the move from renting to owning and you cannot wait to have a space that is all yours. Whatever your reason for buying a home in the Kansas City area, it can also be a scary time as you consider the cost of the property and how it will affect your finances going forward.
Many variables affect the price of a home, but one of the primary factors is its condition. If the home is well-kept, then it is likely to cost more. Meanwhile, if a property has a lot of maintenance issues, it is going to be much cheaper.
Unfortunately, with housing prices as high as they currently are, some buyers are making a huge compromise to afford their homes; waiving the inspection. While it might save you money to not pay for an inspection, and the seller may be more inclined to accept your offer, this could be a huge mistake. Here are a few reasons why home inspections are crucial when buying a home.
The Home’s Exterior
A professional inspector knows exactly what to look for in a residential property to see if it has any issues that could cost the buyer more money in repairs. One of those elements is the exterior of the home, specifically the roof and siding. These structural elements are crucial to maintaining a safe and comfortable environment, and if they are old or falling apart, you may need to spend a lot of money on an upgrade in the future if you buy the home. Once you notice the problem, you can easily hire a Kansas City siding company to get the job done. Still, prompt inspection would have revealed the issue sooner, so you could negotiate a lower price for the home or have the seller address it.
Homes require a lot of electrical wiring to power the various outlets, lights, and appliances that will be used regularly by the owners. If you are buying an older home, chances are some of the wiring may not be up to modern standards for safety and operation. The last thing you want to do is find this out after moving in because you waived the inspection to save some money. Inspectors will check the electrical components in the house to ensure everything is working properly. They might think to check something on the breaker box that you would not have considered when viewing the home while it was listed.
Spotting Water Damage
Water damage is one of the most common problems homeowners face. Water can collect in the home because of a burst pipe, clogged gutter, compromised foundation, poor insulation, or worn siding/roof. An inspector knows the signs of water damage well, so they can easily spot any issues that have cropped up in the home. If the previous owner has not taken steps to prevent water damage, and you waive the inspection, then you could find yourself with extremely expensive repairs to make shortly after buying the home. It is better to pony up a few hundred dollars extra for a thorough inspection so you can catch these problems beforehand and get a better price or convince the seller to pay for the repairs.
A home is meant to be comfortable, and when the temperatures rise or fall beyond what is comfortable, then you need a working HVAC system to regulate the environment. Unfortunately, these complex systems often require maintenance, and failing to catch issues when buying a house will result in an unpleasant surprise when the temperature changes. Inspectors will test out the various HVAC components during a home inspection to ensure they are all operating as needed. If anything is not functioning normally, then they will mention it in their report so you can use that information. Even if the changes needed are minor, at least you know going into the purchase that a little work will need to be done after move-in, so you can budget for it.
A Home Inspection Can Save You Thousands of Dollars
When waiving the inspection became a regular practice for buyers who were competing for sought-after homes, many of these new owners quickly discovered their investments needed even more money put into them. This could have been avoided if they had decided not to waive the inspection. As you are searching for a home in Kansas City, think of the inspection as a non-negotiable. If a seller wants you to waive the inspection before they accept your offer, it is probably a warning sign that you should steer clear of that home. Spend the money necessary to have a professional home inspection done so you can get a good deal and encounter no major surprises after closing.