Whether you’re looking for a home or an investment opportunity, purchasing a property is an important decision and it’s not a good idea to make the decision in a vacuum. A property inspection is an invaluable tool for making sure that you fully understand the condition of the property before committing to a purchase.
Here’s why.
Identifying Potential Health Hazards
Pests, mold, lead, and asbestos are all health hazards that can be present in a home. A property inspection is one of the only ways to know for sure whether any of these issues exist or could become problems later on down the road.
An inspector will look for evidence of pests and mold, taking samples for testing where necessary. They will also test for lead-based paint, and asbestos if the building was constructed before 1980. By knowing what potential health hazards exist prior to purchase, you can decide whether or not to invest in a property or take steps to mitigate any associated hazards.
For example, if you find out that a property has mold, you at least have the option of deciding whether to invest in a professional mold remediation company or look for another property.
Uncover Structural Issues
A qualified inspector will also check for structural issues with the house like cracked foundations, unstable walls, and faulty wiring. These issues can be expensive to fix and may put your safety at risk if not identified.
The consequences of buying a house that has faulty wiring, for example, could be catastrophic from the risk of a fire to the expense of rewiring the entire house. Or, imagine a house with a cracked foundation. Not only would it be expensive to repair, but the structural integrity of the home could be compromised and make it unsafe to live in.
Identify Unpermitted Renovations
Unpermitted renovations can be another serious problem for potential buyers. Not only are unpermitted renovations illegal, but they may also contain substandard workmanship or materials – like a lack of reinforced steel – that could put your safety at risk or lead to further problems down the line financially.
To illustrate, imagine you buy a home with a backyard addition that was done without permits. This could lead to expensive fines from the city or state as well as additional costs associated with correcting any substandard workmanship or materials used in the renovation. In some cases, you may even have to tear down the entire addition and start from scratch.
In short, there are obvious benefits to conducting a property inspection before purchasing a house. Property inspections help you identify potential health hazards, uncover structural issues, and identify unpermitted renovations. By being aware of these issues prior to purchase, you can make an informed decision about whether or not to buy the property.