You can save yourself a great deal of money if you avoid making mistakes while investing in the real estate market. All sorts of property investments involve a cost whether inspection cost, down payment, renovation cost, documentation or legal cost. These expenditures can severely dent your savings if you don’t pay close attention to minute details of home inspection.
Here are some of them:
Need for a home inspector
The experts as we would like to call them, home inspectors study the condition of a home before a sale so that it can save huge amounts of repairs later on. Although there are plenty of options available, choose someone who is trustworthy and competent along with being skilled and qualified.
Always inspect a new property
Even if it’s a close friend’s property, any new property should be studied and checked to know the property and its value well. One should personally go and inspect the house rather than depend on outside sources like contractor or builder. Even if all the legal formalities are completed, there is nothing like a personal visit and inspection.
Raise and share concerns with your home inspector
Home inspection is a continuous process until the final buy. Therefore, participating in discussions with your home inspector or listening to his/her observations with an open mind will help you make an informed decision. Also, sharing your deepest concerns or doubts will save you from spending needless money later.
Listen to your home inspector and not just hear
There is a stark contrast in hearing and listening and it becomes even clear when making decisions related to one’s property. Listening to the home inspector’s advice and following it even if it pertains to a small crevice in the beginning of the process will immensely prove beneficial at a later stage.
Still don’t blindly follow the inspector
The age-old adage of taking everything with a pinch of salt still holds true. Even though the home inspector might be qualified and skilled, make an informed decision considering all the factors and not on the spur of the moment. After all, investment is a good deal only when it satisfies you. You can take the suggestions and opinions while contemplating the other factors like costs and spiritual notations like Vastu.
Consider the ‘invisibles’
Tanks, underground pipes, wells also form a part of the home that you wish to buy. Home inspectors ought to make a list and include the inspection of these in their routine check. In case, the inspector doesn’t bother with these, you can opt for someone else.
Stay alert and not follow your real estate agent blindly
Always make sure the real estate agent doesn’t sweet talk you into choosing their set of home inspectors. The home inspectors may ignore or overlook certain issues in the home to favour the real estate agent at a later stage when it would be time for repairs or replacements.
The interiors are always considered paramount but what many home inspectors end up ignoring are the exteriors. Rooftops, compounds, fences are important places that need as much attention as the interiors. A problem at a later stage would involve more costs.
Hone your research skills
Be an active part of the entire process – from inspecting to buying to maintaining it. There is nothing as good as a solid research. It will help you understand the pros and cons of making an investment which is as big and expensive as a home. The research will give you a window to counter the inspection claims or save yourself from any sort of unnecessary expenditures and chaos.