Do I Really Need A Home Inspection?

Even if you find a home that’s being sold at an unbelievable bargain price, and even if you are paying cash, or your lender is not requiring a home inspection, it is still CRITICAL that you have one done. And here’s why:

For starters, you never really know what problems could be lurking underneath the pretty exterior. You’d be extremely luck if there aren’t any at all. However, because the possibility exists that there really could be major issues that could cost you tens of thousands of dollars and even prevent you from selling your home later, it’s a good idea to get an inspection. It’s especially a good idea, because, compared to what it could cost in hardship later, the investment of a home inspection a far better option.

Speaking of investment, you’d be wise to ask the question: “Just how much will a home inspection cost me?” The fact is that the exact cost of a home inspection varies; How much money you’ll be shelling out depends on a number of factors, including which area you’re buying in, the size of the home, and any additional specific inspections you require to be done. In general, however, inspections run from as little as $150 to several hundred dollars, and it’s more than worth the investment when you consider what is at stake.

A second reason it’s a good idea to get a home inspection is because, unless you are a contractor, it can be very difficult to judge exactly how much certain items will cost to fix. Many things may cost less than you expect, while others items can cost far more. For example, an apparently simple electrical problem could lead to needing the entire home rewired and a new main circuit box being installed.This could cost thousands of dollars! Additionally, a marble tiled shower that has a small leak, could end up needing to be completely replaced, costing over $6,000. It doesn’t even matter if a home is brand new, because unseen issues just waiting to strike are common.

There are plenty of real life examples to cite. For example, a local investor here in San Diego recently helped a new homeowner out of the purchase of a brand new $15 million dollar home in which no inspection was performed. Initially, everything seemed to be in order, but after about three months of living in the home, just after settling in, the new homeowner had found the structural integrity of the home was compromised. The cause of the issue was easy to identify for a home inspector, but not for someone who doesn’t do home inspections for a living. The root cause of the problem was sloppy installation of an external staircase leading from the top floor to the basement which, over time, caused water damage which went unnoticed for years, effecting the structural integrity of the wood.

Chinese drywall is another potential major issue that can often only be discovered by having a home inspection done. It is now common knowledge that Chinese drywall is extremely toxic and can cause major health problems. Some shady rehabbers have simply replaced the problem drywall itself, however the toxins could well have infected all types of piping and wiring and still pose a threat. The only way to discover this is to have a thorough inspection. Even if you are not worried about the cost, certainly the health issues, or legal issues from reselling a home like this warrant an inspection.