Buying a home requires a lot of patience and meticulousness on your part; as the buyer it’s important to consider that money is at stake here. The experts at OnQFinancial know that it is even more serious when purchasing a house through a high mortgage loan. That said, you should make it a point that the house you have selected and are planning to buy is worth every penny you spend from your home loan.
This means you have to conduct a property inspection before buying the home of your dreams. The thing is, inspecting the property is critical since you need to thoroughly examine certain defects that you may not notice initially. This could give you a heads up as you don’t want to carry the burden of any future problems or inconveniences once you move in to your new abode. So before you make an offer, you need to assess how functional the various parts of the house are. Here are tips to further guide you in inspecting a property before taking a high home loan:
- Hire a House Inspector
Although you can inspect the house yourself, it would be beneficial if you hire a licensed house inspector who has in-depth knowledge when it comes examining the property. When it comes to this, it would be crucial if you also prepare questions that would be thoroughly answered in a report that would be made and sent to you by the inspector. Usually, the investigation takes around 3-4 hours depending on the size of the house you plan to purchase and it could range between $300-600. As a buyer, you can tag along with the inspector so that you can better understand what needs to be fixed or overhauled.
- Check up the Roof
The roof does not only add to the aesthetics to the exterior of the house, but it also functions as a protector of its interior. You should check any major issues that the roof has upon inspection. It is necessary to find out the last time it was replaced and the materials that compose the shingles that make up the roof. Make it sure that there are no missing shingles and confirm that there is no access for water intrusion near areas where there is a chimney, skylight or vent. In addition to that, check to be sure that the roof gutters are not rusty and the roof downpipes are discharging properly into water drains.
- Inspect the Attic
Naturally, the attic is the next major part that needs to be examined. You need to scrutinize if the attic has proper ventilation and cooling and heating insulation systems as these would be crucial to the protect of the interior of the house¾and keep its occupants comfortable. If the inspector would recommend minimal or intensive reparation, then it would be better to heed to it as these systems would be of long-term use.
- Conduct a Room by Room Review
Equally essential to your house inspection would be checking the condition of each room of the house. This would lead you to closely look into the following areas:
- Cosmetic Fixes
With the expertise of your inspector, you can find out if the fixes done on the floor or walls have been done haphazardly or carefully.
Another revelation that you would benefit is the chance to test the utilities such as water, electricity, gas, etc.. It is your right to know if these are still highly functional¾otherwise, you may miss out on small problems such as pipe leaks, faulty fuses, non-working outlets or defective water heater lines that would be costly and risky to fix.
Ceilings may be not be that significant to some, but these add up to the aesthetic value of rooms. Be sure that the ceilings are not sagging or do not have the “parachute” look. This problem should be addressed immediately as it entails costly repair.
Do not neglect the importance of walls as these would be a major safety concern for the occupants¾especially when they have noticeable cracks. Check for internal and external wall cracks to see the extent of repair.
- Examine the Basement
Of all parts of the house, the basement seems to be the most underestimated. However, you should carefully check the basement for any wall cracks or water leaks as these would give you an idea about condition of the foundation of the house.
Looking for a house may not be an easy job as you have to make sure that you are
making the right choice and that it’s worth the cost of a home loan. Feeling satisfied after a property inspection is a good way to ensure that you made the right decision.
Simon is a professional finance and mortgage expert who’s had years of experience working in the industry. He currently writes for ONQfinancial.com and is dedicated to helping people find the best home loan options for their needs. In his spare time, he likes to travel.