Why 88% of Home Buyers Invest in a Home Inspection

Why 88% of Home Buyers Invest in a Home Inspection

  • Danielle Peretz
  • 10/30/22

Imagine walking into a private showing of one of Calabasas’ luxury homes and falling instantly in love with its splendid open floor plan, stunning custom finishes, and staggering, gorgeous vistas. Imagine also putting in a purchase offer that suits the seller and unlocking the home’s doors with your own set of keys.

Now picture what it would be like to learn during your first winter that the roof leaks, the electrical system keeps tripping out, and you find yourself texting your local plumber more than you message your mother.

It happens — and more often than you think. Blame it on the seductive effect a perfectly-staged home can have on eager, prospective buyers or the belief that excluding contingencies on your purchase offer will enable you to win a bidding war. Time and again, many home buyers eschew a home inspection — and are left with having to manage costly renovations.

To avoid such a mistake, read on for acclaimed realtor Danielle Peretz’s explanation of why 88% of home buyers wouldn’t think twice about moving forward with a purchase without first performing a home inspection.

To guarantee the safety of your home

According to the Washington Post, three out of four American homes constructed before 1980 contain lead paint — a potentially hazardous material linked to everything from neurological complications and gastrointestinal issues to persistent joint pain. A certified home inspector examines these dangers; they also assess homes for the presence of equally-toxic radon and asbestos, examine the proper implementation of stairs and handrails, and keep a close eye on faults that could result in an injury. Having a home inspection conducted before moving forward with a purchase isn’t just wise in terms of financial matters: It also means you will be able to sleep soundly, knowing you and your family are healthy and safe.

To qualify for a mortgage

A home in disrepair may dissuade a lender from approving a loan, particularly if it affects the home appraisal and the genuine value of the home. A pre-purchase inspection assures that what you’re paying for is just and legitimate and will increase your chances of receiving a mortgage loan.

To identify the level of maintenance you will have to perform

One of the largest surprises first-time homebuyers experience is the increased cost of monthly expenses. Water, electricity, and landscaping all add up and are usually substantially higher than what they paid as renters. Maintenance costs will also escalate if the home you have purchased is in poor condition. If it lacks updated or solid insulation, your heating and cooling costs could shoot through the roof. Receiving a home inspection can give you an estimate of the maintenance tasks you will have to perform or pay for on a monthly and also yearly basis.

To obtain a genuine comprehension of the home’s value

The price of the home may seem just right — at least according to the shining qualities that have been accentuated during an open house — but if you factor in the cost of repairing a roof that is on the verge of collapsing, structural damage, or an electrical system on its last legs, you will be purchasing the home for far more than it is worth. What’s more, you may have to put up thousands and thousands of dollars for repairs while also having contractors and laborers in your new home for months or weeks on end.

To create a financial strategy around renovations

There is an abundance of homes that are move-in ready, but there are just as many that require updates. Knowing which repairs are crucial will work to your benefit during negotiations while also allowing you to build a sound financial plan for now and in the future.

To ensure you don’t have pests

Ants, roaches, termites, vermin, and other unsettling critters can do a great job of hiding out during a showing only to shock and appall you at some later time. A licensed inspector has a well-trained eye for spotting signs of pests and infestations. This could factor into your negotiations and may lead to a decreased price, or you may choose to look for a more immaculate residence elsewhere.

To understand the level of insurance you will need

If you are purchasing a home in a whole new area, you may not be aware of the natural threats to which your residence might be vulnerable. Wildfires, flooding, tidal waves, and hurricanes can flatten your dream if they damage your home and your insurance doesn’t cover the repairs that are needed. Knowing what type of insurance you will need to breathe easily is also important to ascertain so that you can weave it into your budget.

To grasp the logistics of the home

In the flurry of excitement that can arrive with purchasing a home, you may overlook inquiring about the more logistical elements of the property, from the location of the main water line to important switches. An inspector will walk you through the home and point out everything that is necessary — including how to operate them.

To assess its resale value

Structural damage and flawed foundations may impact you while you are living in your new home and down the road if you elect to sell it. Indeed, it may ultimately cause your home to be uninhabitable. Given that it is difficult to determine these issues without training, enlisting a licensed inspector is imperative.

Work with a real estate professional to avoid surprises

Enlisting the services of a sharp, well-qualified real estate agent is just as vital as conducting an inspection. They will have your satisfaction and safety at the forefront of their minds and will connect you with a licensed home inspector who will make absolutely sure you are making the right decision.

Danielle Peretz is just this type of real estate agent. Candid, knowledgeable, and compassionate, she works diligently on her client's behalf to ensure the home they elect meets common and unique standards — and when they ask, “are home inspections required?” she will point out that while they are not, they are highly recommended. If you’re searching for a Calabasas real estate agent who will prioritize your happiness, don’t hesitate to reach out to Danielle as soon as possible.

Work With Danielle

Danielle goes above and beyond for her clients, helping them navigate each challenge and opportunity while ensuring they are relaxed and informed every step of the way. Whether assisting a first-time buyer or seasoned investor, Danielle has proven a caring, tenacious advocate who makes her clients’ satisfaction her top priority—and never settles for less.

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