It’s easy to get caught up in the moment when you’re looking for your forever home. You see all the glitter but maybe fail to see that not everything is gold. And that’s where a home inspection can come into play.
Barb Pinsent from Mortgages By Barb advises, “For a roughly $500 investment on the biggest purchase of you life, it should be a no-brainer to have a home inspection, whether the home is 100 years old or brand new.”
In many cases, people don’t bother to do a home inspection when a home is new because they believe there will be no issues. They may be surprised to learn that even brand new builds can have problems. Certainly with older homes there can be a plethora of issue, ranging from asbestos insulation, knob-and-tube electrical wiring to cracking in the foundation.
“Getting an inspection will not only give you peace of mind when you sign on the dotted line but it can also give your Realtor an opportunity to negotiate any changes that need to be made to the contract,” says Barb.
Your best bet is to find a reputable home inspector who knows what they’re doing and knows what to look for. There are a number of resources to help you find the best inspector, including the Canadian Association of Home & Property Inspectors (CAHPI).
Even a thorough home inspection may not be able to turn up all the issues with a home. Here are some of the most common latent defects in a home.
Bathing Area Issues
Problem: Hidden water damages behind shower/bathtub surround.
Implications: Extra costs will occur, water leaks.
Problem: Pest activity in areas of homes
Implications: Extra costs to repair fire/safety hazards, air quality issues.
Problem: Polybutylene plastic fittings prone to leaking, insurability issues.
Implications: Water damage and/or extra costs can occur, high insurance premiums and deductibles.
Hidden Water Leaks
Problem: Hidden water leaks
Implications: structural damage, air quality issues
Problem: Landscaping too high or structural of home
Implications: Structural problems, foundations issues, pest infestations.
Be sure to add a Home Inspection to your list of “Must Have’s” when you are purchasing your home so you can ensure you are signing with confidence. If you are looking for more tips to help you through the home buying or mortgage process, call Barb on 780-370-1490.