While the standard is to get a home inspection before closing on your next home, it is not something that always happens. In fact, buyers are often lured into not having a home inspection, with promises of a home warranty or home insurance to “cover any issues” that arise. While that seems like a great deal in theory – it often is solely benefiting the seller. Here are 3 reasons why you shouldn’t pass up on a home inspection, no matter how tempting it may seem.
Hidden Issues
First and foremost, if a seller is asking for the home inspection to be waived, a lot of the time this means something that you haven’t noticed is broken. It could be something simple, like a leaky faucet, to something more extreme, like an oven that will not turn on. Either way, you are going to want to know about it before you move in, so you can factor in repair and replacement costs. Along with this, depending on how old the appliances are, they may be really close to breaking. This is something an inspector should easily be able to tell you, and you do not want piles of unexpected costs shortly after a move in.
Home Insurance and Home Warranty
Many sellers will make the offer paying for a home warranty or home insurance in lieu of a home inspection. Again, this usually means something is broken, and they figure the home warranty or insurance is cheaper than paying for the repairs. Along with this, many home warranties and insurances are only valid with proof of a home inspection. They only cover issues that occur while their contract is in place; therefore, they ask for a home inspection upon purchase to ensure the item in question was in working order. By waiving the home inspection in return for “other coverage,” you might end up with nothing at all
Better Safe Than Sorry
Overall, the costs well outweigh the benefits. Home inspections are not that expensive. You want professional eyes that can check for every little thing you cannot or simply did not think to even look at. Mold, termite, radon, and other very serious issues could be plaguing your dream home, making it much less than the perfect choice for you and your family. From both my personal experience, and from being married to a man who is the CEO of a home warranty company, you do not want to get burned. Trust me, always get the home inspection.