Home inspections are not cheap. Most inspectors these days are charging north of $500 plus GST in the Edmonton market. And if you choose to attend your inspection, you will be committing perhaps 3 or 4 hours of your day whilst your inspector goes through your prospective new home and build the report.
Are they worth the money? Would it be a good idea just to skip this step?. Let’s explore 3 good reasons as to why you should order an inspection when buying your next home.
1. A Second Set of Eyes
You might be one of the handiest people on the planet. Perhaps you work in construction? Even the most technically competent people are going to miss something and in the same way that airlines employ a pilot and a copilot it could be a very good idea to put a second set of eyes on the project. And a second set of eyes that have not fallen in love with the home in the way that you may have.
2. It Puts You Into The Owners Position
A good inspector will provide you with a list of items that are going to require your attention over the next few years. This is normal. Some might need your urgent attention. Some will need doing within a few weeks or months. Other items can wait for several years, and good examples might be hot water tanks, or roofs etc. These items simply wear out over time. Having such a list gives you the sense that you have already lived in the home for some years and are fully aware as to what you own. It’s a nice feeling to know your home.
3. Potential Renegotiation Tool
In some cases, your inspector may find an issue that was not obvious to the casual observer. Good examples might be the presence of Poly B piping (a system that was popular in the 1980’s but proved unreliable). Another example might be wiring deficiencies, or perhaps some leaky plumbing. In other cases, particularly if you feel you have already negotiated a good deal you might let it go and absorb the cost of remediation after you have moved in. In other cases, and especially if you feel that you agreed to pay full value, then you could ask your REALTOR® to renegotiate the transaction. This often means agreeing on a reduction of the price you pay.
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