Here's why you shouldn’t skip a home inspection before buying a house, as shown by someone checking items off a list with a pen

Prospective home buyers across the country are feeling the pressure to skip home inspections in the hopes of having the winning offer in a bidding war. But deciding to waive a home inspection can be risky — especially if there are hidden issues looming in your new house. Here are some reasons why you shouldn't skip a home inspection before you purchase a property:

  1. You may unknowingly be purchasing a "money pit." It can be hard to spot serious water damage, cracks in the foundation, or crumbling brick without the keen eye of a licensed professional. These issues should be identified prior to a home purchase, as they can be incredibly expensive to fix down the road.
  2. Your new home may contain a safety hazard. Things like critical electrical issues, fire hazards, or the presence of radon, carbon monoxide, or mould can be dangerous, but you likely won't be able to detect them yourself on a regular property walkthrough. These hazards can lead to injuries, illnesses, or even death, and should be resolved as soon as possible — not after you've moved in.
  3. You'll have limited insight into the future maintenance needs of your home. A home inspection can prepare you for major maintenance items that will soon be necessary, like a furnace replacement, plumbing repairs, or the need for a new water heater.
  4. You lose out on a key bargaining tactic. If you have a home inspection and determine there's something that needs to be fixed, you may be able to negotiate a lower sale price if costly repairs are required. If you skip out on the inspection, you may miss out on this opportunity.
  5. You may not know about illegal additions or modifications made without permits. These may require repairs or hinder your ability to resell your home in the future.

A home inspection is an important tool to evaluate the current and future condition of a house and skipping this step could lead to expensive surprises down the road.

Do I need a home inspection to obtain home insurance?

If the home you intend to purchase isn't more than 25 years old, most home insurance providers don't require a home inspection to obtain coverage. However, a home inspection can identify the true value of your home and may even uncover features that make you eligible for discounts, such as a sump pump or backwater valve.

When you're considering purchasing a home, there are several factors that could affect your insurance. For more information on how a home inspection could affect your home insurance, reach out to your licensed insurance broker.

Are you a first-time homebuyer? A new home is one of the largest purchases you'll ever make in your life, and if you're finding the process overwhelming, you're not alone. If you're just embarking on your homebuying journey, learn more top tips for first-time homebuyers and find out how to shop for home insurance.

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