As temperatures heat up Houston, the housing market is also showing no signs of cooling down. In March 202, single-family home sales were up 47.4 percent compared to last April, according to the Houston Association of Realtors.
While buying a home is already a nerve-wracking decision for many people (and especially first-time buyers), potential home buyers are often searching for ways to make themselves more attractive candidates to sellers — and that includes contemplating skipping a home inspection.
“As we head into the summer real estate boom in the midst of an already competitive real estate year, buyers should never skip a home inspection, even when it seems like an appealing way to help speed up the closing process,” said Eve Jones, Co-Owner of HomeTeam Inspection Service of Humble. “In this red-hot housing market, knowledge is priceless, and buyers need to arm themselves with as much information as possible in order to make a comprehensive and informed decision. While buyers think that waiving a home inspection will serve as a way to make them a more enticing candidate to the seller, they can be opening themselves up to long-term risks and unforeseen costs down the road.”
Jones, whose HomeTeam inspectors service areas in Greater Houston, says that buyers should never skip a home inspection, even when it seems like an appealing way to speed up the closing process. “In this market paying over asking and having to cover a possible appraisal deficit will only deepen if you have to dig deeper for a new roof, air conditioner, or water heater.” A home inspection helps identify these issues and possibly narrow that financial gap.
A licensed, qualified home inspection company, like HomeTeam Inspection Service or another Better Business Bureau qualified inspector, can help new owners understand the overall investment and enter into the closing with confidence that they are making an informed decision about the home.
“Insight from a home inspector can help buyers create a timeline for upcoming repairs and major appliance replacements or help new owners budget for the future,” said Jones. “Buyers, and especially first-time home buyers, need to arm themselves with as much knowledge as possible because investing in a home is one of life’s major investment decisions.”
Additionally, said Jones, a thorough home inspection decreases the chance of buyer’s remorse later on.
“At your appointment, the inspector will walk around the house, visually checking five major systems (Structure, Electric, HVAC, Plumbing & Appliances) including the major components like the home’s foundation, roofing, plumbing, heating and air conditioning, visible insulation, and a thorough examination of the attic,” said Jones. “Any potential issue, whether current or something that will likely appear further down the line will at least be addressed so there are no surprises.”
Jones says that valuable insight into the property can help your realtor in negotiations with the seller.
“HomeTeam inspections cost between $350-$500 for a standard home inspection and take roughly two to three hours,” said Jones. “That is a relatively cheap price to pay for valuable information to help negotiate a sales price. Pending results from the inspection, the seller might be willing to make repairs themselves or lower the overall cost of the home to account for the repairs that will be needed in the near future.”
Ultimately, without a home inspection from a licensed professional, it may be difficult for the buyer to identify potential red flags that may be scattered throughout the home.
“In the long run, buyers typically never regret getting a home inspection,” said Jones. “The out of sight, out of mind mentality will do nothing but cause time, money, and additional issues down the road. It’s easy to fall in love with a home for small, superficial reasons, but for many buyers, an inspection serves as a much-needed reality check and shows buyers what the house really has to offer — blemishes behind the beauty.”
HomeTeam Inspection Service is a team-based home inspection franchise with over 150 locations across the country that assists sellers, buyers, and professionals with an array of various commercial and home inspection services. For more information about HomeTeam, or to schedule an inspection, visit https://www.hometeam.com.