The Importance of a Home Inspection - NYCM Insurance Blog

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Feb 27, 2023

The Importance of a Home Inspection

For many people, buying a home is one of the biggest and most important purchases they make in their lifetime. That being said, a proper home inspection can make the difference between buying a home that you love and buying a home that you can’t wait to move out of. Home inspections are generally inexpensive in comparison to the overall cost of buying a home and having one completed before your purchase is critical when it comes to avoiding the responsibility of costly repairs. Continue reading to learn more about home inspections and how they can save you time, money, and stress in the long run!


What Does a Home Inspection Cover?

A good home inspector will cover specific components of the home and then provide a detailed report with photographs that outlines their findings. The inspection should review the condition of the home's heating and central air conditioning systems, the electrical system, interior plumbing, the attic and insulation, the roof, walls, ceilings, floors, windows, entry points, and the foundation. The inspector should also detail which items will need replacement if any, as well as anything that could be considered a defect or safety concern.


What Isn’t Usually Covered By a Home Inspection?

It’s important to know that there are things that are usually not included in regular home inspections and that separate tests would need to be run in order to ensure that there are no concerns. Here are a few things that may not typically be included in a traditional home inspection:  inside chimneys, septic tank systems, swimming pools, asbestos, pest control, and toxic mold.


Who Benefits From a Home Inspection?

Believe it or not, both the seller and the buyer can benefit from a home inspection being completed. It is recommended that as the seller, you complete a pre-listing inspection. Doing so allows you to find out the condition of your home, see the extent of any possible defects, complete disclosure forms,  price more accurately, and prevent excessive seller concession requests. As a seller who completes a pre-listing inspection, you will also have ample time to have any necessary repairs done.



Why Should I Get a Home Inspection as a Buyer?

1. Contract Contingencies

When purchasing a home, if you choose to forgo a well conducted home inspection, you are forfeiting your opportunity to identify any major issues with a home you are planning to purchase before closing. Home inspections are often used as a contingency in your contract with the seller, meaning that if the inspection reveals major defects or issues, you would be able to back out of the contract without being subject to penalty within a certain timeframe. The home inspection helps you weigh your options as well, especially if you are looking at multiple properties.


2. A Smoother Transaction

Although it is rare that a seller would intentionally be misleading about the condition of the home, the home inspection can prevent these types of situations from occurring. The home inspection can also protect you when you are purchasing a new construction home, as the builders will want to complete the entirety of the build at once, rather than having to come back later when a problem has risen.


3. Peace Of Mind

A properly conducted home inspection can offer you peace of mind as a homeowner and an increased confidence in your purchase. After all, your home is  one of the biggest purchases you can make and without the inspection, you may be left wondering what damage or safety concerns  lie ahead.


The process of buying a home can be a very exciting time in your life. If you are in the market for a new home, you might also be shopping for homeowners insurance. For more information about a homeowner's insurance policy with NYCM Insurance and to learn about your available discounts, click the link below to find a local agent!