If you’re buying a new home, you can be so excited that you just want to grab those keys and get packing! It seems like there are a lot of hoops to jump through before closing, and you already know you want to change a few things, so skipping steps might sound like a good idea. But, the day to discover you have an issue with your new home is not the day after closing! Read on to find out why inspections are an important part of your home closing process.
Why an Inspection is a Critical Part of the Home Buying Process: Check for Structural Damage
One of the first things your inspector will check for is structural damage. This is important for several reasons. It makes it possible to you to know you’ve got a firm foundation, and no termite damage or water damage under your home. This isn’t just for peace of mind, however. Your home insurance company will want to know this information before insuring you, especially if you have a home bond or are transferring a termite bond from a pest control company.
Ensure the Electric System is Safe
A ground wire can act as a safety mechanism in an electrical system, but not unless it’s properly installed and cared for. Unfortunately, some DIYers bite off more than they can chew, and decide to do minor repairs to the electrical systems by themselves. This can seem like it’s not a big deal, but if a mistake was made with electricity by somebody who wasn’t a bonded and insured electrician, your home might not only be in danger, but your family as well. Having a good inspection protects both and makes sure your lights stay on, with no shocks or fires.
Why an Inspection is a Critical Part of the Home Buying Process: Get a Better Loan
If you’re hoping to pay for your new home with an FHA loan, you have to show that your intended home can pass an inspection. With no inspection passed, you have to pay much higher bank rates. Why? You are much more likely to be able to live in a home, and for a much longer time, if it is sturdy, and has few major issues.
The long story short is: the steps between you and closing on a home are there for a reason. You’ll be glad you waited patiently and had a professional conduct a home inspection! As hard as it might be to wait, it would be much worse to skip this crucial step. Protect your future investment and your home.
Read this next: What Matters Most When Getting Your First Mortgage
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.