What is the true cost of a home inspection? What if we told you that an investment in the hundreds of dollars could save you thousands on the cost of your new home in the long-run? It may sound too good to be true, but it isn’t! The investment we’re talking about is a home inspection, and the value you can extract from a detailed home inspection report may shock you.
Home Inspection—a Small Investment That Pays Off BIG
When you consider the cost of a home inspection, your first thought may be cost liability. So, you measure the benefits against the cost, and that seems like a pretty simple way to decide, right?
Well, there’s actually much more hidden value in a home inspection than you may realize. Your home inspection isn’t going to just point out what may be wrong with a property. The detailed information in your home inspection report is a valuable asset that you can use as leverage when closing your real estate deal.
Let’s explore how you can determine the true cost of a home inspection and how to maximize the information you receive for maximum value.
Strategy #1: Request Repairs Before Closing
Suppose your home inspection reveals that the roof needs to be repaired (which is quite common in the Marquette area). Hiring a professional to repair a roof will cost hundreds to thousands of dollars after the fact. It’s best to know what’s wrong upfront.
Here’s where you can turn it around – it’s entirely acceptable to request that the owner complete any necessary repairs before closing. This strategy will save you time, money, and the hassle of living amidst major construction right as you are trying to move into your new property.
Here’s a real-life example: During a recent home inspection in Marquette MI, we found that all the outlets in the home would need to be replaced to be up to code. By having the homeowner replace these outlets before closing, the cost of a home inspection had already paid off for our client.
We often hear about homebuyers saving thousands of dollars (and a ton of headaches) by requesting repairs before closing—and you can too! We make it easy with our repair request builder.
Strategy #2: Negotiate Down the Asking Price
Say your home inspection report unveils a list of expensive repairs. In that case, it is within your rights as a buyer to request that the seller drop down the asking price.
This strategy will help you recoup the expenditures associated with repairs down the line. Negotiating down the prices is an ideal strategy for those who enjoy doing home repairs or have a friend or family member that can cut them a good deal on necessary updates.
Learn More About Leveraging Your Home Inspection Report
Ultimately, it’s up to you to decide how to utilize your home inspection report, and your realtor is an excellent resource in helping you execute whichever strategy you choose. But without the detailed information a home inspector provides, it’s safe to say you’re leaving money on the table.
To learn more about how you can use your home inspection to leverage the best deal possible, read our blog, Deal or No Deal? How to Leverage Your Home Inspection Report for the Best Deal Possible.
Schedule Your Home Inspection Today
Hiring a home inspector is an affordable way to ensure you are making a sound investment— don’t stay up at night wondering what might go wrong—get the facts.
Call Rich Beasley, owner of U.P. Home Inspection LLC. and InterNACHI® Certified Home Inspector at (906) 360-3879 or schedule your home inspection appointment online HERE.