The home inspection will give you a ton of information about the home you are interested in buying. This includes things the condition of the roof or the presence of faulty electrical wiring. There are some things a home inspection will not tell you. In this blog post, we will discuss some of the things the home inspection won’t tell you.
To Buy or Not to Buy
One of the things the home inspection won’t tell you is whether or not you should buy a property. A home inspection will outline the condition of the home but, ultimately, it is your decision whether or not you want to buy the house.
Even houses with a plethora of defects can be good investments. It all comes down to the price and your willingness to deal with the repairs that have to be made. Often, the best deals can be found in houses that need work.
Cost of Repairs
The home inspection will not determine the cost of repairs. The cost of repairs can vary greatly depending on the cost of labor and materials. To determine how much repairs will cost, consult a qualified contractor. Contractors are used to dealing with certain issues so they have a better idea of the costs involved.
Many contractors offer free estimates. It is a good idea to get estimates from different contractors. When choosing a contractor, consider more than the price. Reviews, experience, and credibility are also important factors to consider.
Value of the Property
The home inspection will not determine the value of the property. That is the job of the appraiser. While the home inspection focuses on the condition of the home, the appraisal will determine the value of the property. The appraisal is an important part of the home buying process and will help ensure that you are not paying more than what the property is worth.
Insurability of the Property
The home inspection will not determine the insurability of the property. Certain things can make it harder (or impossible) to acquire homeowner’s insurance. This may include the location of the home, it’s history, or the presence of certain defects. To determine the insurability of a property, consult your insurance provider.
It is important to determine if the property can be insured before closing. If you find that a provider will not insure your property, shop around for different providers. Different insurance companies have different limits as to what they will insure or not.
Suitability for Use
The home inspection will not determine a property’s suitability for use. A property’s suitability for use my come in question if you want to use a property as a daycare or as a farm for example. Home Inspectors are not qualified to give this information and as a result it not part of the home inspection.
To determine a property’s suitability for use consult your real estate agent or authority having jurisdiction (AHJ).