When you are considering the purchase of a new home, hiring a home inspector to examine the home from foundation to rooftop and driveway apron to fencepost is a must. An experienced home inspector will point out issues of concern ranging from minor cosmetic fixes to dangerous situations that make a home unfit for occupation. A home inspection is a small investment compared to the invaluable information you will receive in return.

Condition of the Home

An experienced home inspector takes you through the home and property step by step to identify areas of concern. The inspector informs you about necessary repairs on the major systems of the home, including electrical, gas, plumbing, masonry, foundation and roof. Knowledgeable inspectors make note of which repairs are required to keep the home in compliance with city or municipal code, which is required for the legal sale of the home. By describing the overall condition of the home, home inspections provide you with the information you need to make an informed decision on that particular home.

Investment

The purchase of a home could be the largest financial investment you ever make. By getting a home inspection, you ensure that the home you want to buy is a worthwhile opportunity. The home inspector\’s report will identify whether serious problems exist with the home or property that it sits upon, and whether the purchase is likely to be a sound investment for your money. You would not want to put your money into a home that turns out to have serious problems that could have been identified by a home inspector.

Insurance

In order to obtain a mortgage loan to purchase a home, you need to show proof that you have a homeowner\’s insurance policy to cover the home in the event of a catastrophic loss. The home inspector\’s report will contain information you need to provide to your insurance company to get a quote or estimate for coverage. The report will also contain important information such as whether you need to purchase a special policy due to the home\’s age, location or proximity to a fault line or flood plain.

Price Negotiation

Upon receiving the results of the home inspection, you may desire to negotiate the price of the home. A major problem such as needing a new roof, electrical work or foundation repair could cost many thousands of dollars. Having this information in your hands allows you to negotiate a lower purchase price with the seller.

Loan

Most people take on a mortgage loan in order to purchase a home. In order to underwrite your loan and process your loan application, the bank may require you to hire a licensed home inspector and provide them with the results of that inspection. The inspection report will identify areas of concern that could require costly repairs. Any such repairs could impact your ability to repay the loan. Any issues of serious concern on the inspection results may lead the bank to deny your mortgage application.

Buying a home? A leading Home inspector Newmarket offers a variety of Home inspection Richmond Hill and Newmarket. Ontario Home Inspectors Inc 139 1, Barrie, ON L4N 7B8, Canada +1 705-794-8751 +1 705-424-1254 (Fax)

Buying a home? A leading Home inspector Newmarket offers a variety of Home inspection Richmond Hill and Newmarket. Ontario Home Inspectors Inc 139 1, Barrie, ON L4N 7B8, Canada +1 705-794-8751 +1 705-424-1254 (Fax).
http://ohi-mold.com

Author Bio: Buying a home? A leading Home inspector Newmarket offers a variety of Home inspection Richmond Hill and Newmarket. Ontario Home Inspectors Inc 139 1, Barrie, ON L4N 7B8, Canada +1 705-794-8751 +1 705-424-1254 (Fax)

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