In the home buying process, the inspection is probably one of the top two or three most important things that are going to take place. It's where you learn everything about the house and remember, this is a huge investment so you certainly wouldn't drop $300,000 on an investment stock you knew nothing about so why do that with the house purchase? When accompanying your home inspector through the property here are five questions to ask. (AND ALWAYS GO WITH YOUR INSPECTOR!)
#1. What issues should raise red flags?
Talk to your home inspector about the different things that could be an issue later on. Are there things that are red flags now or could raise red flags in the future? Do certain items, materials, and features cause more problems in the future?
#2. Are there any risks to a short sale or foreclosed home?
While we are not quite in that frame of mind any longer, occasionally you will find a foreclosed home and in those cases, there are additional issues to be aware of. Ask about plumbing, electricity, any needed repairs, and major issues such as siding, roof, and crawlspace issues.
#3. Can you identify what you mean?
Most home inspectors are happy to offer clarification and definitions of certain items but if you don't know, please ask. You want to know as much as you can about the property as possible before finalizing the sale. Don't feel embarrassed about asking questions about materials, finishes, and construction work. You are the one living in the house, not the inspector, so you need to know everything.
#4. What are the biggest concerns about the property?
You'll get a written report about the property but make sure you ask your inspector if there's any major concerns. They have an unbiased perspective of the home so they're not going to give you anything to alarm you, discourage you, or encourage you to buy the property, which is a good thing. You want someone completely unbiased with no connection to the property giving you an honest answer.
#5. How much longer do materials half?
You not only want to know the condition of materials now but how long they will last. Let's say your home inspector says there is 10 years left on a furnace and a furnace cost $5000. You can prepare your finances over the next decade so that you can afford the furnace when it comes time to replace it or, understand that if you sell within that time, you may need to replace it then. Asking about the longevity and lifespan of certain items of the home will prepare you financially for the future.
For more information on home inspectors or finding a great home inspector in Colorado Springs, feel free to contact our office at any time.