Home inspections are a crucial step in the home buying process. Not only does it allow you to learn more about your future home, but it is the step that gives you the opportunity to either move forward with your purchase or walk away. We could go on and on about home inspections, so that’s why we decided to write a series on them!
Though many are familiar with the standard home inspection (which we will go further into detail in future blog posts), we thought we start out with why home inspections are important. If you’re thinking of purchasing your first home, be sure to set alerts for when we post new articles on our Instagram! Let’s dive in.
What is a home inspection?
A home inspection is the buyer’s last chance to learn the details and specifics of the home they put a deposit on and are looking to purchase. If any problems with the home arise during this step in the home buying process, the buyer can contact the seller to negotiate, or simply walk away from the purchase and get their deposit back.
Though home inspections are technically not necessary, we at TruHome strongly suggest performing one before purchasing your home. We get it—buying a home is already a lot of money and hiring a home inspector is just adding to the list of ever-growing costs. However, if you don’t go through with a home inspection, you could be left with tens or even hundreds of thousands of dollars in repairs that you could have learned about before. Beyond the cost, you could also be buying a home that simply isn’t safe to live in. No one wants that!
What do home inspectors look for?
Home inspectors look for anything and everything in a home. Probably not the answer you were looking for, right? Well, inspectors will look at the big and small—from leaks to small dents in the drywall. But in general home inspections, inspectors take a special interest in water damage, the structural integrity of the building (uneven floors, cracked walls, leaning stairs, etc.), roof damage, electrical, plumbing, bug or pest presence, and heating & cooling systems.
The list above only scratches the surface, but once you get your home report back after the home inspector is finished, you’ll see what we mean.
What to expect during a home inspection
We always recommend that the buyer comes along for the inspection along with your realtor. Not only can you speak with the inspector one on one to clarify any issues that arise, it also gives the buyer another chance to view the home. Sometimes during these inspections, the buyer brings along measuring tapes and paint samples to get some planning in ahead of time before possession day.
Home inspections usually take between 1-3 hours, depending on the size of the home and the amount of reported issues. In very unique circumstances, home inspections can take a full day.
Once the home inspector is done looking at the home, they will chat with you and give you an in-depth report of the things that the home needs fixed. The length of this list differs between each home. Though the list can sometimes be long, you need to remember to pay attention to the severity of the issues. There may be missing light switches and cracks in the sidewalk, which are more of an aesthetic issue and not necessary to fix right away. However, if the inspection report tells you that there are major issues with your pipes or foundation, that is when you need to decide with your realtor if those are deal breakers or not. Always keep your budget in mind during this step—even though the home may seem perfect, it may not be worth it to fork out thousands of dollars to fix the issues.
What to expect after a home inspection
After the home inspection takes place, it’s time to sit down with your realtor. If the report shows only a few minor things, then your realtor will likely suggest to move forward with the purchase without any changes to your deal.
However, if your home inspection report comes back with major issues, your realtor will give you three options: 1) to negotiate with the seller to get a smaller selling price of the home, 2) to negotiate with the seller to have them fix the issues before possession day, or 3) to walk away from the home altogether. If the seller agrees to fix the issues for you, it is important to have a follow-up walk-through before your possession date to ensure that the problems were properly tended to.
If you decide to walk away from the home, your realtor will go back to step one and send you listings of homes that are similar to the one you just walked away from. Though it’s extremely disappointing for our clients (and for us!) when this happens, we have never regretted backing away from a bad investment.
Hiring a home inspector in Edmonton
Edmonton is filled with many credible home inspection companies. Did you know that Alberta and British Columbia are the only two provinces that require home inspectors to have certifications? This means that here in Alberta, all home inspectors are licensed and you can sleep soundly knowing that trained professionals are inspecting your home. We at TruHome work with a couple specific companies that are amazing. Here they are:
Brent Moffat
Edmonton, AB T5T 2Y5, Canada
Phone: 780-224-5035
brent.moffat@abuyerschoice.com
Edgar Castillo,
Canadian Residential Inspection Services NE Edmonton
Namao Center PO Box 31085 Edmonton AB T5Z 3P3 (Street Address: 10315 – 178 Avenue NW, Edmonton)
Phone: 780-910-2857
ECastillo@CanadianResidential.com
How much does a home inspection cost?
During most purchases, the buyer usually pays for the home inspection. However, there’s no rule that says that you can’t negotiate that the seller pays for the home inspection when you’re in the negotiation stage before the inspection takes place.
There are some cases when the seller performs a home inspection before they put their house on the market. In those cases, it is up to the buyer to either accept that home inspection or perform a second home inspection on their own dime. However, we at TruHome definitely recommend hiring your own inspector—someone that is unbiased and can give you an honest report.
That being said, if you are hiring the home inspector yourself, you can expect to spend between $200-$400.
In conclusion
We know home inspections can be daunting—especially when you’re a first-time home buyer. But like we mentioned earlier in this article, home inspections are important and necessary, even if they aren’t required to purchase a home.
More often than not, there will be an issue with your home, even if it’s only a year or two old. But know when this happens, you’re not alone. Your realtor is there to help you throughout your journey to home ownership—even when it gets difficult!
We at TruHome take pride in being a shoulder to lean on during the home buying process. At each and every step, we’re only a call or a coffee hang away! If you’re looking to purchase your next place to call home, feel free to book a Buyer’s Consult with us to get started.
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