Even Northeast Pennsylvania’s housing market is not immune to price hikes and the glut of increased demand that rapidly outpaces supply.
According to Zillow, home values in the area rose by 6% between April 2023 and 2024.
Unfortunately, a National Association of Home Builders Housing Trends Report states that being outbid is the number one reason buyers lose out on homes.
One way that house hunters have tried to gain an advantage in the housing market has been to waive inspection requirements to make their offers more attractive to sellers. However, this has several potential consequences, including financial devastation and health hazards.
While viewed as an added expense, a residential home inspection can offer homeowners insurance against the worst possible consequences and give them confidence in their purchase. Even sellers can benefit from getting their homes inspected before listing by anticipating possible repairs and increasing their marketability.
This article will discuss fifteen benefits of performing a home inspection in NEPA and why you should never waive one.
10 Reasons Buyers Should Perform a Home Inspection Before Purchase
Unlike your deposit, a home inspection is one expense that cannot be refunded when you put an offer on the house.
However, if something in the inspection prevents you from buying that house, then the benefits of the inspection far outweigh the costs.
Here are some concrete reasons why you absolutely should get a home inspected before purchase.
1. Eye Inspections Don’t Pain the Full Picture
Most house hunters are more allured by a home’s cosmetic details than its structural details. Unfortunately, a home walkthrough does not give you the full picture of its safety and condition.
Unless you have extensive knowledge of construction, electrical, plumbing, and HVAC work, you are basically leaving these features up to chance that they are in good condition without a proper inspection.
2. Avoid Safety Hazards
The most important reason to perform a home inspection is to protect the health and safety of your family. A qualified residential home inspector will be able to provide a detailed report of a home from the ground up, including essential components like its:
- Foundation
- Roofing
- Electrical
- Plumbing
- HVAC
- Siding/Facade
- Framing
A home inspector will literally inspect every inch of your home, from the porch you first enter through to every door, inch of crawl space, attic component, and everything in between.
3. Protect You from a Potentially Bad Investment
From a financial perspective, a home inspection identifies any issues requiring immediate or future repair.
Many first-time buyers in Pennsylvania don’t anticipate the amount of cash required to cover closing costs, typically 2-5% of the home’s total value. Add in possible roofing, foundation, or HVAC repair, and your dream home can quickly become a financial nightmare.
4. Give You Peace of Mind
Conversely, a good home inspection can give you added peace of mind that you are not trapping yourself into a poor financial decision. If you’ve ever purchased a home, you know the anxiety of waiting to hear back from an inspector and appraiser.
Having confidence in your purchase is simply priceless.
5. Offer Leverage for Negotiations
If a home you are looking to purchase does come back with defects and issues that require immediate repair, this can give you leverage as a seller to lower the asking price and possibly save you short-term money.
In many cases, sellers may be willing to accept this, especially if it means having them avoid covering the cost of repair and waiting to re-list their home (while still paying on the mortgage).
6. Help You Budget for Future Repairs
A detailed home inspection will help you identify issues that require long-term repair. Knowing this will help you avoid surprise purchases down the road, such as installing a new furnace or appliance, which can be equally devastating financially.
7. Option to Bundle Repairs Into the Selling Price
In this scenario, a seller may add the cost of repairs to a home to its asking price, essentially allowing you to pay for those repairs throughout your loan instead of with cash on hand. This strategy is similar to bundling closing costs into your loan and may suit some buyers, depending on their financial needs.
8. Many Homes in NEPA Are Very Old
Depending on the type of home you’re trying to purchase in the area, it could face unique issues related to its age. Outdated electrical work, such as knob-and-tube wiring, is very commonly found in many older homes in the area, especially around Scranton, Bloomsburg, and the Wilkes-Barre areas
Even smaller issues, such as poor insulation, outdated windows, or lack of ventilation in a bathroom, are very commonly found in older homes and should be updated.
9. Even New Construction Runs Into Issues
Likewise, newer homes are not immune to shoddy workmanship. In fact, newer homes are often more likely to suffer from foundation issues, poor flooring installation, and grading/drainage issues.
10. Avoid Health Concerns Like Radon and Mold
Finally, we recommend homeowners protect themselves from dangerous pathogens like radon and mold by performing a special indoor air quality and radon test. While not required, this can protect your family’s health or those of those residing in that home.
5 Reasons Sellers Should Get an Inspection Before Listing
If most buyers are willing to perform an inspection on their own dime, then why should sellers do so? However, there are multiple benefits to a pre-listing inspection, especially in a buyer’s market.
1. Gain Accurate Pricing
Appraisals rely more on cosmetic details and comparative homes in the area for pricing, not necessarily their condition. A home inspection will allow you to gain more accurate pricing. Who knows? A positive home inspection may even allow you to raise the price.
2. Expedite the Listing and Sales Process
One of the best reasons to proactively hire a home inspector is to list your home faster and speed up the closing process. Depending on the buyer, they may accept the results of your home inspection report, especially if a trusted inspector in the area did it.
3. Control the Repairs
Completing a pre-listing inspection gives you control of the repairs, including who’s making them and what you’re paying for them. This allows you to save money and know the job was done right.
4. Avoid Legal Complications
Selling a home that is not up to local building codes can delay and even stop your home sale in its tracks. Depending on the city, you may be required to make immediate repairs or provide certain disclosures to get your home listed.
5. Attract the Right Buyers
Finally, conducting a proactive inspection increases the marketability of your home by outlining its new repairs or features. This will help connect you with the right buyers, especially if you want top dollar for your home.
Do Not Waive a Home Inspection
Waiving a home inspection could end up leaving you saddled with tens of thousands of dollars in repair and an unsafe home.
While there may be a small upfront investment to perform a home inspection, the return on investment in terms of avoided costs and peace of mind far outnumber the few hundred dollars you have to pay a home inspector.
We also recommend additional inspections, such as septic inspections if you are buying a home with a septic tank and a pest inspection if there is evidence of termite damage.
For the most comprehensive and reliable home inspection results in NEPA, turn to the experts at Mountain to Valley Home Inspections. Contact us for a free quote today and to see how we can assist you!
FAQs
What does a home inspection include?
A standard home inspection covers, but is not limited to:
- Structural components (foundation, walls, roof)
- Exterior components (siding, windows, doors)
- Roofing
- Plumbing
- Electrical systems
- Heating and cooling systems (HVAC)
- Interior components (walls, ceilings, floors)
- Insulation and ventilation
- Fireplaces and chimneys
How long does a home inspection take?
The duration of a home inspection varies based on the size and condition of the home, but it typically takes 2-4 hours. Most homeowners can expect to see results in 2-4 business days.
What happens if the inspector finds problems?
If the inspector finds issues, you can use the inspection report to negotiate with the seller for repairs, a price reduction, or credit toward closing costs. In some cases, you may decide to withdraw your offer based on the severity of the issues.