Why You Should Never Skip the Home Inspection
We understand hot real estate markets are difficult. You really want a home inspection but feel pressured to skip the inspection. You feel you need to put in a clean offer, there is no time for an inspection. The truth is buying a house is one of the biggest financial and lifestyle investments you’ll ever make, and skipping the home inspection dramatically increases your risk of significant unforeseen expenses. Going in blind can end up costing you a lot.
We understand that you may need to put in a clean offer. However, you should know as much as you can about the home so you can make an informed offer. It is very risky to put all your resources into a home that will cost you tens of thousands of dollars after you move in. Real estate is buyer beware (Caveat Emptor). So, you need to ‘be aware”, and a professional home inspection is the perfect way to become aware, for a small investment. As they say, knowledge is power. When it comes to real estate, you need to know what is real about the estate.
The time myth
Professional home inspections typically take 2 to 3 hours and are followed up with a comprehensive written report in 24 hours. There’s always time to get an inspection. If you are told there is no time to do a proper home inspection, you should ask why. A 30-minute run-through is by no means a professional home inspection. Every homebuyer should have the right to have a home inspection. The federal government’s Homebuyers’ Bill of Rights commits to that.
Don’t take our word for it
This is not just our viewpoint, here is what other experts are saying:
Scott McGillivray of HGTV: https://www.hgtv.ca/real-estate/blog/do-you-really-need-a-home-inspection-scott-mcgillivray-says-1913535/
Mike Holmes in the National Post: https://nationalpost.com/life/homes/skipping-home-inspections-a-major-red-flag-for-new-buyers
Bigger Pockets: https://www.biggerpockets.com/blog/dont-skip-home-inspection
Cherry Creek Mortgage: https://www.cherrycreekmortgage.com/blog/article/the-risk-of-waiving-a-home-inspection
What to do
1. Do not buy into the pressure that you will not get a home unless you waive the home inspection. Understand that it is your right to have a home inspection, which is essential in making an informed buying decision.
2. Insist on buying a home that either has a Pre-listing inspection completed by a reputable inspector or one where you can bring your home inspector in.
3. Attend the inspection and learn as much as you can about the property.
4. Review the report and ensure you understand everything in it.
5. Make your offer with confidence and reduce your homebuying risk dramatically.
It is the difference between buying a money pit that causes years of stress and expense, and buying a home where you can keep your family safe, warm and dry.