Skipping the Home Inspection Could Have Negative Consequences

Many a homebuyer has watched in dismay as the incremental costs of purchasing a home tick up, up and up some more. The reality is, buying a home is a costly endeavor. It’s no surprise that many prospective buyers look for opportunities to save cash throughout the process, and more than a few consider skipping the home inspection. Although it’s not required by law and could cost you anywhere from $250-$500, there are important reasons to insist on a professional home inspection before you sign on the dotted line.

Negotiation Tactics

Savvy buyers know they can likely negotiate a purchase price with the seller, and a home inspection can be a great tool for such negotiation. If the inspection uncovers a deteriorating roof that needs replaced within two years, for example, a buyer can use this information to negotiate a lower selling price that takes into account the cost of a new roof.

Homeowner’s Insurance

All homeowners are required by law to carry insurance on their homes, and some insurance companies may actually refuse coverage without a home inspection performed by a professional. Many other insurance companies offer a discount on monthly rates when a home inspection has been completed.

Your Health

Perhaps most importantly, a professional home inspector can detect mold, radon and carbon monoxide, all of which may have dire health consequences and must be dealt with properly before it’s safe to occupy the home. This is especially important for families with young children, who are even more prone to chronic illnesses caused by these common environmental toxins.

Enlisting a licensed home inspector before purchasing a property can help buyers get the best deal in the short-term, save on monthly bills over the long-term and ensure a healthy living environment for years to come.

Image via Flickr/mtbuildings