By Gil Strachan   

CONGRATULATIONS! You've found the perfect home, and now it's time to make the offer and finalize the deal. If you're like many people, you may be feeling a cash crunch by this time. You might wonder why you would want to incur yet another expenditure, such as a pre-purchase home inspection. A valid consideration!

TWO AREAS COVERED - In my experience, a home inspection can do two important things. Firstly you will acquire some peace of mind about any hidden or unrecognizable defects or potential problems in the home. Professional home inspectors are trained to determine the presence of otherwise unsuspected problems in the home, through clues and symptoms that an untrained eye might not connect to the problem.

Secondly, and in my opinion, equally important, is the opportunity to have a thorough explanation of how to operate and maintain the home. An inspector can give you a wealth of information about the different types of systems and components in the home. He or she should also cover how each system works; a typical life expectancy; its current condition; under what circumstances it might stop working; what action to take to get it working; and maintenance advice that will help you achieve maximum life expectancies.

TIPS FOR BEST VALUE

Here are some tips on how you can get the maximum out of a home inspection:

+ Recognize that from a structural/mechanical point of view, there are few, if any, perfect houses. Don't be disappointed if the inspector indicates numerous items in the house that are in need of repair, maintenance or monitoring. Most of these items will probably be minor in nature. Only a small percentage of homes have a significant structural or mechanical deficiency.

+ Ask questions. If you're not sure of the ramifications or consequences of the item, stop the inspector and ask. He or she should be able to give you an idea about the possible consequences, both worse case and the probable scenario. In my experience, the worst case in usually only a possible and not the probable outcome.

+ Ask about timing for suggested repairs. Should they be done immediately, can they wait a month, or a year? This will help you determine your budget more accurately.

+ Ask for possible solutions for any areas that need repair. It is unusual that there is only one way to make a repair. The more options you have, the better choices you can make for your own circumstances.

+ A pre-purchase inspection can be used to view a house from a more objective (vs. subjective) frame of reference. And this can assist you in being more comfortable with your purchase decision.

If you can hold that any problems are not something "terribly wrong" with the property and look at them simply from "how much will it cost to have it work properly", then you have a better, and more objective understanding of the true nature of the situation.

+ Recognize that the age of the home will have an impact on the condition of the systems and components. All of these items have a life expectancy, and the older they are, the higher the degree of care and maintenance they require. However, "older" does not necessarily mean problematic. Many older materials and workmanship are high quality and have longer life expectancies than their modern counterparts.

+ Do your research and choose an inspection company wisely. Not all companies offer the services and levels of professionalism.

+ Look for someone who is a professional home inspector. An architect or an engineer is not automatically a good home inspector. These are speciality disciplines that deal with specific areas of homes, whereas professional home inspectors are trained to be generalists, to observe and understand all of the components in the house.

+ Inquire about the level of experience of the individual inspector. Finding the symptoms and clues to problems and deducing their meaning can't be learned by building new homes, or doing renovations; only by on-site practical experience.

+ Finally, look for an inspector or company that you feel comfortable with in terms of their ability to communicate with you. The inspector should be able to translate the technical information into usable language. Ideally, there will be maple opportunity during the inspection for your questions. The inspector should be empathetic to your situation; otherwise, you may lose a valuable opportunity to learn the most about your new home.

USE YOUR INSPECTION AS A SEMINAR

By following some of these guidelines you can use the home inspection as a seminar in home ownership. You will find the cost of the inspection will actually be an investment, rather than an expenditure. A pre-purchase inspection of the home can save you money in the future by showing you how to make repairs only when necessary, and in the most cost-effective manner.

THE BOTTOM LINE

A pre-purchase inspection won't eliminate all the risk associated with home ownership. It can, however, be a value-added information gathering process that gives you a better understanding of your new home. And more security.