​Is Your Home Inspector Being Thorough Enough?

Home inspections play an important role in the pre-investment process. A professional property inspector can detect flaws in the property which may or may not be visible, but can cost you a significant amount of money to repair either way. Yes, you’ll spend a few hundred bucks to have the place inspected, but trust me when I say this is money well spent.

Of course, if you’re buying a turnkey property from USREEB or another reputable provider, this has already been done for you. Turnkey properties are inspected, repaired and rehabbed, and ready to go for tenants and investors.

If you’re NOT using a turnkey strategy, however, you will want to have any potential investment inspected. Some of the areas you’ll want a full, detailed report on include:

• Electrical - A house with wiring issues can make for a costly investment. On older homes especially, wiring can be an issue if it’s not up to current codes and standards. Our electrical needs have evolved over time, and homes with older wiring simply aren’t equipped to handle the demands of modern usage. Plus, wiring, breakers, and the other parts of the system all have a life span. If the ones in the home you’re interested in have reached the end of theirs, you’ll want to know about it.
• Roof - Chances are, you and your realtor aren’t climbing onto the roof to inspect it. It still needs to be looked at, though, and that’s what a professional inspector will do. He or she will get up there, walk around, and look for missing shingles, damaged flashing, and other areas of concern.
• HVAC - The heating and cooling of the home is another critical part, as these systems are heavily relied on and costly to repair or replace. Your inspector should be able to tell you if the furnace and air conditioner have been installed correctly, if there are any parts wearing out, and what their lifespan will be with proper care and maintenance. If the home has a chimney, it will need to be inspected as well.
• Plumbing - Leaking pipes can cause major damage to a home, and compromised areas can be tough to pinpoint. A good inspector will know where to look and can identify problem areas and recommend solutions.
• Foundation - The foundation of the home is arguably the most important part. When you’ve got a bad foundation, everything else is at risk. An inspector will examine the foundation as well as the basement or crawl space, looking for cracks and other weak spots. Foundations are usually very expensive to repair, so take this into consideration if your inspection turns up any issues on this part of the house.

Inspection of these areas are all standard with most inspectors. They’ll look them over, give you a rundown of anything they see wrong with them, and even recommend the appropriate repair. However, it’s your job to ensure that your inspector is being as thorough as you want. Walk around with them, ask questions, and make sure everything is recorded in the report. Once you receive the report, don’t just skim over it or read only the summary. Go over each part carefully and make sure you understand what it’s saying.

Don’t make the mistake of skipping the home inspection on a prospective investment property. If there are any major issues with the house, you’ll want to know before you sign the paperwork to take ownership, not after.