There are many myths surrounding the real estate industry, especially with regard to a home inspection. Many actually are believing them, and unfortunately, it usually leads to misunderstanding and unrealistic expectations.
There are many myths surrounding the real estate industry, especially with regard to a home inspection. Many actually are believing them, and unfortunately, it usually leads to misunderstanding and unrealistic expectations.
Before going through the process of a home inspection, it’s important to have a better understanding of it. A home inspection is a visual evaluation and examination of the physical components of the property as well as its systems. Parts of the house that are inspected are the roofing, flooring, walls, electrical and plumbing system and the surroundings. A pest inspection is also conducted during the process.
Now, let’s separate facts from fiction. Let’s tackle the common home inspection myths.
- A home inspection is the same as a home appraisal.It’s common to hear some people call a home inspection process a home appraisal. The truth is, these two processes are completely different. A home appraisal is a process of evaluating the current value of the property based on its condition. The local market condition is also looked at, such as the market value of the properties that are near the house that is being appraised. A home appraisal is done so that the bank or the mortgage lender will know the amount of loan that they can provide to the buyer.
A home inspection, on the other hand, is done to assess the structural and mechanical concerns of the house. The inspector will check if a potential safety hazard is present and will take note of the condition of the major system of the property. A home inspection can help both buyer and the seller in making a decision about the house. The seller will have a chance to fix some issues before putting the house on the market. The buyer will know the details about the house so they can make an informed decision before signing the contract.
- A home inspection is a guarantee.While it’s true that all areas will be inspected by a home inspector, there is no guarantee that the house will not have problems or will not fail in the future. Regardless of how knowledgeable the inspectors are, they can’t see what’s behind the wall. Much more, they can’t predict what will happen in the future. So this means that a home inspection is not an assurance that nothing will break, or you won’t be experiencing home problems in the coming months or years.
Houses are mechanical in nature, so that issues can arise at any time.
- Buyers should not be present during the inspection.This is not true at all. In fact, home inspectors encourage home buyers to be around when the home inspection is being done. Being present is a great opportunity to be educated about the property, which is especially important for first-time buyers. You will be able to learn the inner workings of the house, understand the maintenance you should do once you move in, and you’ll have an idea of what repairs or replacement should be made down the road. Knowing this information will help buyers prepare for the expenses that will be incurred.
- A newly constructed house need not be inspected.It’s a complicated process to build a house. There are many subcontractors and employees involved during the construction. With many activities done at the same time, it’s only natural that there are some things that will be overlooked and for workers to commit mistakes. So an inspection is also important for newly built houses to know if it’s safe to live in and to find out how established the property is.
- All home inspectors are the same.A home inspection is only good if the one doing it also has good qualities. There are inspectors who inspect the house just to get the job done without really doing the important things. So when you look for a professional inspector, do not hesitate to ask for their credential as well as experience. Ideally, you want to hire a home inspector that is trained, experienced and certified. It would be best to hire an expert who was recommended by someone you know so you’ll have an idea of how they work.
We hope we provided you with some helpful information about a home inspection and what you can expect from your home inspector.
