Why You Don't Want To Skip Your Home Inspection

When you finally find the home you want to buy, its easy to get caught up in the excitement. Youve toured the place, imagined your furniture in it, maybe even pictured your morning coffee on the porch. The last thing you want is to slow down the process with more steps or lose out to another buyers offer because they skipped their inspection.

But heres the thing. Buying a home is one of the biggest financial decisions youll ever make. And no matter how perfect that house seems, skipping a home inspection is a risk that could cost you a lot more than just time.

What Exactly Is a Home Inspection?

A home inspection gives you a detailed look at the homes condition, usually after your offers accepted but before closing. While whats covered varies by state, an inspector usually goes over the homes major systems and structure, including things like the roof, foundation, plumbing, electrical, HVAC, and more.

Why an Inspection Is Worth It

Heres a quick rundown of some of the biggest benefits of getting an inspection.

• Helps you avoid unpleasant surprises. A house might seem move-in ready, but could have issues you didnt see during your walkthrough. Knowing about these before closing day is important. That way, you have a better idea of what work may need to be done to the home.
• Gives you negotiating power. Depending on what the inspection turns up, you may want to re-negotiate with the seller. For that, lean on your agent. With their help, you can ask the seller to handle repairs before closing day or provide a credit so you can take care of them yourself.
• Offers you peace of mind. Buying a home is emotional, especially if youve been searching for a while. An inspection helps take some of the uncertainty off your plate, so you can move forward with confidence.

A few hundred dollars upfront for the home inspection could save you thousands in surprise repairs later. As the National Association of Realtors (NAR) says:

Failure to obtain a home inspection could potentially cost you a great deal of money and hassles in the long run.

Why You Dont Want To Waive Your Inspection

According to the latest data from NAR, nearly 1 in 4 buyers are waiving (or removing) the inspection contingency when they buy a home. And with spring being peak homebuying season and buyer activity already heating up, you may be thinking about doing that yourself. As Realtor.com points out:

. . . if you're in a hot real estate market where homes are getting multiple offers, there might be a temptation to skip an inspection when you really want the house. However, waiving a home inspection comes with sizable risks.

But skipping the inspection is a gamble that doesnt necessarily pay off. Just remember, there are other ways to make your offer attractive to sellers, like being flexible with the closing date. Before making an offer, talk to your agent about other ways to get a sellers attention without sacrificing your peace of mind.

Bottom Line

Even if skipping an inspection sounds like a way to make your offer more competitive or speed things up, its risky. Its not just extra time and documentation, its a smart step that protects your wallet, your investment, and your future.

If you could ask a home inspector one question before buying, what would it be? Let your agent know so its the first thing they bring up when the time comes.