Are you considering buying real estate without a property inspection?
If so, you may want to think twice.
Skipping an inspection could turn out to be a major mistake when purchasing a home.
In 2004, research published by ASHI (American Society of Home Inspectors) Reporter found that 87% of people had inspections performed when buying properties 11 years old and older. A few years earlier, a report stated that an average of 82% of buyers had inspections. In the south, the percentages reported were among the highest in the nation.
There are several reasons that the vast majority of buyers insist on having an inspection before buying.
Read on to find out why you should schedule a property inspection before you buy!
3 Reasons Why Buyers Should Always Have a Property Inspection
You may want to save money by forgoing a property inspection, but it’s not a wise move. Here are a few reasons why an inspection is always recommended when buying real estate.
1. Not Having an Inspection Could Cost You More in the Long Run
While the average home inspection costs around $315, according to Home Advisor, skipping this critical step could end up costing you a lot more.
There are several expensive home repairs that may not be noticeable by the untrained eye.
For example, a home that has faulty wiring could cost several thousands of dollars to fix. If discovered during the inspection process, you have the power to negotiate the price. You can even withdraw from the deal if you decide that the price isn’t worth it.
Once you have purchased a home, you can’t go back and undo your decision, even if later you find that there is major, costly work needed. Better to have the most realistic picture of your purchase before signing a contract.
2. An Inspection May Provide You With Greater Options
There are all kinds of issues an inspection might reveal. Even if the problems uncovered are not deal breakers, they might give you an opportunity to buy at a lower price.
When you have an inspection performed, anything noted in the inspector’s report offers the buyer a point of negotiation.
You might ask the seller to consider lowering the price. You could also ask that they complete the repairs before closing. Either way, you may have options that wouldn’t have existed if you had chosen to bypass the inspection.
3. An Inspection Gives You Peace of Mind
When you purchase property, you want to feel confident that you have made a worthy investment.
There is nothing worse than buying a house and finding out that you are going to have to shell out big bucks on a complicated repair project.
There’s no way to know for sure what the future of your new purchase holds. A home inspection can give you a much greater sense of security.
Even when buying new construction, a home inspection offers buyers extra peace of mind. And that, oftentimes, makes it worth the money you might spend.
Are You Looking to Buy Real Estate in Cape Coral?
If your property inspection results in a poor report, don’t let it discourage you. There are lots of properties to choose from in the Cape Coral and Fort Myers areas, especially if you know where to look.
Need some help finding the perfect property?
Contact us today and let our professionals help you find the property that’s right for you!