When buying a home, a home inspection is important

In an ideal situation, I have some time upfront to work with clients on their mortgage pre-approval.

I like to go over what to expect in terms of both the process and what to expect in terms of closing costs when they have an accepted offer on a home. We usually talk about potential expenses like the property transfer tax, an appraisal, a home inspection, home insurance and legal fees.

At his time of year, we also talk about upcoming property taxes for anything they are purchasing before July 1.

I think human nature is such that we want to minimize our expenses and make sure we are getting the most bang for our buck.

There are a few areas of cross-over where I anticipate a client’s realtor will be speaking to them about items like the requirement to organize home insurance and the importance of a home inspection. In practice, I think most realtors encourage their buyers to move forward with a home inspection because they want to ensure clients don’t buy any surprises that will create headaches down the road.

Sometimes clients buy privately and are not represented. In those cases, I always urge them to include a home inspection as one of their conditions. I have had clients question the need for a home inspection, particularly if they are buying a condo or a new build.

Two recent examples popped up that reinforce for me the importance of a home inspection.

I am working with a lovely first-time home buyer in the Lower Mainland. Her budget isn’t huge so she waited and watched for the right property to come up and for her offer to be the one chosen. The stars aligned for her last week.

Her financing was approved and all of the financing conditions were signed off by the lender. I was doing a happy dance for her and had a rude awakening the day her home inspection was done.

The home inspector found an ongoing leak in the kitchen that has created a “soft” wall, which is indicative of a bigger problem. On a surface level, the kitchen is beautiful and relatively recently updated. As a first-time home buyer with no family nearby, my client was thrilled by the aesthetics of the condo, then devastated by the potentially expensive work needed to repair and rectify the damage.

The second situation really caught me by surprise. I have clients on Vancouver Island who had their offer accepted on a brand-new home that has never been lived in. They chose to invest in a home inspection and we are glad they did.

It turned out that some of the larger windows were installed incorrectly and that created damage to the windows and a leak in one corner. Again, with a new build the temptation is often to skip a home inspection.

Yes, in this case any issues with this home will be covered by a warranty but having the home inspection done and being aware of the issues upfront gives the buyer a lot more power with respect to having those defects repaired quickly.

Now that I’ve driven that point home, it’s also important to know that not all home inspectors are created equal. Do your due diligence. Look at reviews, look at a home inspector’s qualifications and the length of time they have done home inspections and their experience.

Going with the cheapest option is not always the best option.

Buying a home is the biggest investment you will likely make. Trying to save a few hundred dollars upfront may end up costing you thousands of dollars and sleepless nights down the road. Save yourself the pain and aggravation of hidden issues in your home.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.