The Importance Of A Home Inspection In A Seller's Market

If you are looking for a home to buy as 2021 draws to a close, or perhaps you’re researching for a future purchase in 2022, you need to be aware of all the risks involved. Buying a home is a wonderful step to take in your life, but it comes with caveats - all large purchases incur risk, after all - and in a seller’s market, those risks are elevated. 

Home inspections are one of the core essentials to book when you are purchasing a property of any kind - especially a property in which you and your family will live. Professional home inspections can rule out any potentially costly or dangerous hazards in the home, and can alter the price in your favor if any costly damages are found.

In today’s post, we’ll discuss how the seller’s market is affecting home inspections, and the importance of a home inspection in a seller’s market.

The Seller’s Market Explained

According to the latest real estate trends, we are currently living in a ‘seller’s market’. What is the seller’s market? Simply put, the seller’s market means that there are fewer people selling their homes than there are buyers. In short, this equates to high demand for properties, allowing sellers to keep their prices high, and often resulting in buyers cutting corners just to secure a property.

What does this have to do with home inspections? Unfortunately, the rising demand for properties means that some buyers are skipping their pre-purchase home inspections in order to secure a sale. This is never a good idea - and we’re going to show you why.

The Importance Of A Home Inspection In A Seller’s Market

Although it may be tempting to go straight in with an offer when you see a home you love, there is much danger in taking this route. 

Firstly, home inspections can reveal startling truths about the home you have seen. You may have only seen this home once or twice yourself - and without a professional eye, you won’t be able to spot worrying factors that may impact your decision. 

Radon testing, for example, is crucial to ensure the safety of your future home. Radon is a radioactive gas that is prevalent throughout the US, and could be present in the home you are about to buy.

Similarly, an inspection can detect foundational damage, insulation issues, structural damage and ever-present problems like mold and pests. If these things are found, it doesn’t mean you shouldn’t go ahead with your sale - but it may mean offering a lower price for the home, due to the fact that you will be spending a significant amount on repairing the issues found.

Finally, you may be eligible for better financing with a full home inspection. Often, lenders won’t invest in a home purchase if there is not a home inspection report completed beforehand. 

Certified Home Inspector at Rocket Valley Home Inspections

If you need a home inspection with fast turnaround and high accuracy, contact us today to book a home inspection with us at Rocket Valley Home Inspections. You need a home inspection in a seller’s market, despite the frustrations that may come along with it!

Is A Home Inspection Necessary on a New Build?

 

Would you buy a new car with out test driving it first?

We service a market in Huntsville, Alabama, and surrounding areas where a lot of newly constructed homes are being built to keep up with the never-ending demand of real estate that comes with so many people relocating to the area every day. We have the conversation all the time as to whether, or why a home inspection would be needed on a new build home. My response is almost always, would you buy a new car with out test driving it first? Because that is essentially what we are doing. We are test driving your home before you purchase it. We are testing the operation and inspecting the installation of your doors, windows, lighting, outlets, appliances, plumbing, etc. 

Doesn't the local code inspector check the same things? 

Yes and No. Building code is a set of minimum requirements for building design, construction, and operation to protect public health, safety and the natural resources that sustain us. Structures are built in compliance with laws and regulations established by the state, according to the specific codes of the location and time period in which they are built. Code inspectors inspect and enforce the code that their local jurisdiction has adopted, if your local jurisdiction has a code enforcement official or office at all. At the time of writing this we have areas in North Alabama that are currently on the 1996 NEC and 2002 NEC.  Home inspectors use their knowledge of the building code, as well as building science and known poor or excellent building practices to conduct our inspections and make recommendations for corrections or repairs. We will inform you of updated safety devices or practices that while not locally required, are still recommended for the improved safety of your family. We do not just make sure that your HVAC is present and everything is installed, we also test the cooling and the heat to make sure that it is in fact functioning as designed and there are no visible issues present. Below is a short list of deficiencies that we have found after the local code office has given the builder the certificate of occupancy:

• No insulation installed in the attic. 
• Weather boots at vent stacks on the roof torn and leaking. 
• Missing flashing at various areas of the roof with active leaks. 
• HVAC gas flue disconnected in the attic or crawlspace. 
• Condensate line backing up into HVAC drain pan.
• Missing HVAC drain pan in attic. 
• Breaker tripping every time the microwave is turned on. 
• Dishwasher not secured to cabinet and drain not installed at plumbing. 
• Improper pitch of shower pan causing pooling and not allowing for complete drainage. 
• Spa tub drain leaking. 
• Loose toilets, and damaged or leaking wax seals. 
• The list goes on, but I will stop here. 

The home is under warranty, so wouldn't the builder fix everything you listed?

Again, yes and no. Just like in every other profession there are good and bad apples. Here in the Huntsville / North Alabama area we have a lot of really great builders who care about their clients needs and work really well with home inspectors to make sure that everything is great for their clients. We also have some that do not. Regardless of who your builder is and how they operate it is always easier to have your potential new homes issues addressed before closing on the home while everyone involved in the transaction still has a vested interest. The builder, the agents involved, and you wont know there are issues to correct until it is caught and brought to everyone's attention. It is also important to note that home issues do not resolve themselves and often worsen over time. Catching these issues as early on as possible can help prevent major issues down the road as well as issues that may not make them selves visible until after your home warranty has expired. 

In  Conclusion 

Alabama is a buyer beware state meaning that the responsibility to determine the homes condition falls on the purchaser of the home. It is always recommended to hire a licensed and experienced home inspector prior to the purchase of your home whether new or old. What we find usually surprise you and the builder / home owner. 

Rocket Valley Home Inspections services Huntsville, Athens, and Madison Alabama and surrounding areas. Visit us at https://rocketvalleyhomeinspections.com/ for more information.