Home Inspections: Your Dream Home's Report Card
The moment you get your home inspection report can feel like being handed a novel-length list of everything that's wrong with your dream house. All of your dreams can seem like they are turning to nightmares. Even though it may feel like an intimidating document, it might be the most valuable paperwork that you get about your house. A home inspection report is very useful in determining if there are any items that need further investigation to ensure you are not walking into a money pit.
The most important thing to remember about an inspection is that the inspection is really just the baseline. Think of it as a general physician doing a physical on a house. Sometimes they will spot something that requires calling in a specialist – like a structural engineer to take a closer look at that suspicious crack in the foundation. It's like getting a referral to a specialist from your regular doctor, except this time it's for your house.
One of the most difficult aspects of buying a house is trying to figure out if what you see is what you are going to get. That charming vintage electrical system? It might be knob and tube wiring that's one strand away from becoming a fire. That slight dampness in the basement? It could be the tip of a very expensive water infiltration iceberg.
To navigate these hidden pitfalls, homebuyers turn to home inspectors. For somewhere between $500 and $1,000; they'll spend half a day closely going through the minutiae of your potential new home. They are looking for everything from minor annoyances to major red flags that could turn your dream home into a money pit.
What exactly are they looking at? Well, usually they have an established framework that they go through for every home that they inspect. They're checking out the electrical systems, the plumbing system, the structure, and all that expensive HVAC equipment you never think about until it breaks in the middle of winter. Usually the report lists out every one of these categories and all the issues that they see. This ranges from tightening up a leaky faucet to advising an electrical panel upgrade.
This process is meant to save you from making a terrible mistake. For most Americans, their home is their biggest asset. We're talking hundreds of thousands of dollars, decades of mortgage payments, and countless weekends spent at Home Depot. An inspection that uncovers major structural issues, water problems, or a dangerous fireplace that needs an insert that could save you from many sleepless nights, letting you walk away before you're stuck with repairs that cost more than your kid's college fund.
If you decide to move forward, the inspection report becomes your new home's to do list. It becomes very beneficial in helping you prioritize between "needs to be fixed right now" and "can wait a few years." Some people get overwhelmed when they see a 50-page report listing every little thing wrong with their future home. But here's a secret: No house is perfect. Even brand-new construction can have innumerable problems. The goal isn't to find a flawless house – it's to know exactly what you're getting into.
While a standard home inspection covers the fundamentals, it's worth considering additional inspections for specific concerns:
- Water Test: Testing the water quality can help identify contaminants or mineral content to ensure that you’re able to comfortably drink the water.
- Radon Testing: Radon is a naturally occurring radioactive gas that can pose health risks. Testing can determine if radon levels are elevated.
- Site Survey: If your house doesn’t have a current survey, having a site survey will help determine your exact property lines and provide the basis for building an ADU or any additions. Jurisdictions like Denver require a survey to get a building permit.
By understanding the importance of a home inspection and knowing what to look for, you can make informed decisions about your home purchase. Remember, a well-informed buyer is a smart buyer. So, don't skip the home inspection – it could be the best investment you make.
