Anybody who has bought a house, or is thinking about buying a house, knows just how expensive it can be. Especially with the new stamp duties, things seem to be getting even more expensive.
Now imagine going through all the trouble of finding the financing you need, taking the time to find the right house, countless meetings with solicitors and finally signing the contract only to find that your dream house is quickly turning into a nightmare because you forgot one very important part of the process?
Not only will this be very frustrating, but it often turns out to be very expensive too. Which is quite ironic considering the fact that the most important step when it comes to buying a house is actually optional.
Looking at any home buying budget, it is not uncommon for the buyer to try and find ways to ‘trim the fat’ so to speak. Many often choose to forego some of the many steps required for a comprehensive purchase unless they are mandatory.
One of the optional steps, yet most important, is the home inspection.
Unfortunately, most people choose not to carry out this part just to try and save a little money.
Why the home inspection is the most important thing for first time homebuyers
Even though it is optional, this step is by far the most important part of buying a house. Think about it, would you buy a car without test driving it first? No. Then why would you want to pay for a house without having a professional inspect it for you first?
As laymen, we are very good at nit-picking the cosmetic aspects of a home on sale. We will look at the paint job, the garden, the windows and how well maintained the floors are, but we will never be able to truly tell if the overall structure has actual integrity. This is something that only a professional can do.
Buying a home that is structurally compromised can only mean one of two things:
- The lifetime investment you thought was here to stay will be gone much sooner than you expected.
- All that money you sunk into buying that house will not be enough to comfortably live there because you will need more for repairs and structural maintenance.
So, while you were trying to save a few hundred quid by foregoing the home inspection, you actually managed to dig yourself into a much deeper, and more sinister hole.
The inspection is not just about picking out faults. It is also about giving you professional guidance on how to maintain your house. This guidance will be specifically tailor made for the house you buy because your home inspector has familiarised himself/herself with what that house needs. This could save you a great deal of money in the future.
This is the number one thing that all first time homebuyers should do before they hand over their money. It takes time, it costs just a little bit more but it can save you more than you can imagine.Tags: first time homebuyers, important steps when buying your first home, what first time homebuyers should not forget