One of the most important things you need to do for a newly built home is a home inspection plan. Home inspection is an opportunity for you to find out if there are any issues with the property that the seller failed to disclose, as well as if there are any potential problems that may lead to costly repairs later after you close. As the owner, hiring a home inspector and making a plan for inspection is your duty. But if you’ve never done it before, knowing where to start can be challenging. To get you started, here’s a home inspection 101.
Home Inspection
A home inspection is an estate’s visual test. Newly Built house is a massive investment and you want to make sure you know as much as you can about the state of the house and exactly what you’re paying for. In addition to offering you valuable insight that can help guide your decision better, a home inspection provides you with the possible tools to be used in your negotiations. When you find out that there is a problem that needs to be tackled, you can get the dealer to skim some cash off the price to compensate for the cost of fixing.
Kinds of Inspectors to look for?
To ensure that everything is in good working order, thorough home inspectors cast a wide net, examining both the interior and exterior features of a property. The American Home Inspectors Society provides a guide on standards of practice that describes most of what inspectors are looking at.
- Interior features (stairways, window seals, garages, etc.)
- Exterior features (doors, decks, surface grading, driveways, etc.)
- Structural components (foundation, crawlspaces, wall structures, etc.)
- Fireplaces and venting
- Major installed appliances (kitchen and laundry)
- HVAC
- Roofing systems
- Plumbing systems
- Electrical systems
Your home inspection’s scope depends on the house being inspected. When scheduling a home inspection, make sure to ask what the inspector wants to look at and raise any concerns that you think may exist (if you have any suspicions in fact).
How to schedule inspections at your newly built home
Take the following advice to ensure that you accurately plan your home inspection and get the most out of it.
- Calendar a home inspection to be carried out as early as possible in the purchasing process so that you can have plenty of time to negotiate.
It is best to do this right after the bid has been accepted. Keep in mind that a purchase price is not set in stone until it is closed — if you find problems during the home inspection, it is perfectly within your rights to go back to the drawing board and give the dealer a new price.
2. Tell the property manager if they have an inspector’s endorsement.
Your property manager is your best bet on who to recruit for your inspection for insider information. There’s a high likelihood that your realtor has been dealing with some of the home inspector firms that they really like and some that aren’t as nice, so take advantage of their expertise by asking who they think you should go with. Demand two or three suggestions to compare and find the best match for you.
3. Contact your preferred home inspectors and inquire about their availability, method, and cost.
It helps to do your analysis just like all other factors of a newly built home. Call any home inspector company you are considering to find out when they will be able to do the inspection, how they plan to do it, and how much they will charge. On average, for your inspection and completed study, you can expect to pay around $325. Nonetheless, make sure to take all factors into consideration instead of just going with the best option automatically.
4. Schedule an appointment for the home inspection.
At home inspection, you’ll want to be available, so schedule a time that fits well for both your inspection company and yourself. There’s no use in hurrying up an inspection, so it’s important to leave a lot of time with your inspector to really review the property— you’ll want to do it right between two and three hours.
During Home Inspection
Don’t be afraid to ask a lot of questions when you’re inspecting a home with your inspector. They are there to analyze the house, but they’re also there to provide you with knowledgeable answers to your home and design and features questions. If you see something that you think maybe a concern or you don’t understand what your home inspector advises you, speak up! If you made a large and complicated purchase, it’s always easier to ask too many questions than not enough.
What if you get bad results from home inspection?
Just because a house is newly built and looks like it’s in great condition isn’t an assurance that your home inspection document won’t contain any issues. When you notice that there are problems, don’t freak out, but take action to see if there’s a great solution.
Immediately, call your property manager to address the results. They should have some good insight to you if going forward with the transaction is still a good idea, and if so, what kind of seller concessions you can look to. Sellers are usually as inspired to trade hands as buyers for titles so they are also willing to make concessions based on reports of home inspection. That could mean arranging and charging the repairs themselves and increasing the purchase price to compensate for the cost of repairing. Such agreements often allow you, the consumer, to claim responsibility, which means that if additional problems occur, you can not sue later. Focus on major fixes while bargaining, not on minor cosmetic issues that you can quickly fix on your own.
Sometimes the results of a home inspection may warrant a walk away from a transaction, especially if the dealer is unwilling to negotiate. If that’s the case, look at it as an advantage for you’ve avoided having to pay for or deal with significant maintenance and continue the search for your home elsewhere.
Do not cancel your inspection at home
Unlike a home assessment, most mortgage lenders do not allow a mandatory home inspection until releasing the loan funding. That said, opting out is still not a good idea. A home inspection offers you with important information you may not even find out about until it’s too late. Usually the $400 or so that will cost you is nothing compared to the repair costs you might face later. The only time when voiding a home inspection would make sense is if you or someone close to you have construction experience can help you assess. Even so, it never hurts to have another objective eye on a house.
Scheduling a home inspection is a big part of making sure you make an investment in buying a smart home. Make sure that you work with a company that you trust and that is recommended, and that you are fully present and informed during the inspection. An inspection is a perfect opportunity to experience more about the property you purchase inside and outside and find out what additional costs you may face in the years ahead.
