Regardless if it’s old or new home, an inspection is like a check-up for your house. What repairs will need to be addressed now and what might need to be addressed later down the road?
A buyer may opt for having an inspection done prior to signing a contract which allows negotiating of inspection report findings into the transaction. However, many buyers do wait until they are in contract and then order inspections within the contractual time period allotted. Inspections costs can vary depending on the size of the house, the condition of the house.
Just because a house needs repairs doesn’t mean you shouldn’t purchase it. Nearly every house will have a list of repairs that need to be done to get it “shipshape.” It is your decision to choose how much you are willing to spend and how much work you are willing to do.
According to the American Society of Home Inspectors (ASHI), “the standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.”
There are limits, however, to what a home inspection will cover. They aren’t required to identify conditions that are concealed or are considered latent defects. That means if personal property, plants, snow, or debris is covering an issue, the home inspector isn’t required to move those items to inspect it and isn’t liable if he misses it. They aren’t required to make determinations on systems that aren’t readily accessible. And they aren’t required to note the presence of potentially hazardous plants and animals. That includes ”wood destroying organisms” or even molds.