Having an inspection completed on a new home purchase obviously makes sense although it’s not required. You can certainly buy a home without ever conducting a home inspection but it’s like spending $400,000 on an investment stock and not knowing anything about it. You certainly wouldn’t do that so why would you skip the inspection on a real estate purchase?
Inspectors know a vast amount of things when it comes to construction, laws and codes and may know intricate details about one or two major items like roofs or foundations. Primarily they will have a good basis of knowledge on many things so you have a good idea on the report how the home is built and maintained.
Home inspectors can prepare you for the future. We always suggest that potential home buyers accompany the inspector throughout the home and around the perimeter so they understand their property, the life of the home and how much longer each material has before it needs to be repaired or replaced. Here is a good plan of action when it comes to the future of your home.
Your home inspector will inspect items such as the roof, foundation, attic space, siding and all appliances. So, let’s say that furnace is currently 10 years old. The home inspector would be able to predict that there is roughly 5 to 10 years left on the life of the furnace. If you know that a furnace will need to be replaced in 10 years and the furnace cost is roughly $3000, you can plan started now by putting $25 away into account specifically set aside for furnace replacement. By the time the furnace needs to be replaced you will have saved up the right amount of money in order to replace it without it being a financial burden.
You can do this with all factors of the home. Let’s say that the roof will need to be replaced at a cost of about $5000 in five years. If you start putting away about $85 per month, in five years you’ll have a little more than $5000 to replace the roof. This is a great way to plan, budget and prepare for the future life of your home.
Check back on our blog for tips, tricks and information for inspections on your home.