Most people, when they begin talking about a home inspection, get very nervous and start immediately thinking of the worst possible outcomes. While it is true that on occasion an inspector will find an issue or two that might be of real concern not only for the buyer but for the seller, on most occasions home inspectors find issues that are fixable, livable, or changeable. What are some of the most common items that inspectors find on their inspections? Well, in many cases the hot and cold water output is reversed. In many cases outlets need to be rewired in a simple fix so that the ground side is actually the ground side. In most of my home inspections the inspector has found a few issues in the electrical panel. Many cases involve a short trip to the hardware store and just a few dollars to fix it. Especially in new construction, most respectable developers expect the buyer to hand them a list of items to complete before the settlement date.
What are the more big ticket items that cause buyers and sellers to stress out? Well that’s when we usually start talking about mold, having to install an entirely new electrical panel with more amperage, and roof or structural issues. In many cases a condo home inspection seems to have less to worry about than an entire single family home, because in the case of a condo, the roof, elevator, common elements, and the exterior in most cases are taken care of out of the reserves built by the condo association. Whereas in a single family home, the entire house upkeep is to be paid for out of the household budget.
What are some common hacks for homeowners? Well, in many cases a homeowner can purchase a home warranty. They cost between $300-1,000 a year, depending on the options the buyer selects. But in many cases home warranties can help the homeowner save money in the long term. If you have a home warranty and the stove breaks, they might just replace it for you, after you pay the service fee. There have even been cases where the entire HVAC system breaks and the home warranty company foots the bill for a new one, which could be 5, 6, 7 or 8 times the cost of the home warranty itself.
Some home warranty companies seem to have better customer service than others, so do your research. If you have any other questions about home ownership please don’t hesitate to reach out and ask. Happy holidays!