Why are home inspections so terrifying?
During the home inspection, you'll receive a list (perhaps a very lengthy one) of things that are wrong with the home you are about to buy. For many people, buying a home is the largest purchase you will ever make. As a result, hearing about problems with your new home can be unsettling for some, and even result in a condition called buyers remorse, where you become convinced that you've made a huge mistake even when there is nothing seriously wrong with your home.
Home inspections are designed to protect you (the buyer) from problems with your new home that might not be obvious upon first glance. For one, home inspectors will look at your roof through binoculars (or by actually climbing up onto your roof) for signs of damage and aging. The home inspector will also go into your attic at look for signs of water damage -- this will tell the inspector whether the roof has leaked during the past few years. If it has, there will be signs of water damage on the rafters in your attic. The roof is a very important part of the inspection because replacing it (or repairing water damage) can be very expensive, costing $20,000 or more.
The home inspector should spend a lot of time looking at your foundation for cracks and structural problems. If you have a basement, the inspector should go down in the basement and examine the foundation. Beware. Problems with the foundation can be major. For example, the home inspector might find one more more cracks in the foundation. Some cracks are not a cause for concern -- they are part of the natural settling process of the house. They occur because the concrete poured to make the foundation shrinks as it dries. Other cracks may be caused by the house settling into the ground. As a general rule, cracks are not a cause for alarm unless they are very large and have water coming through them. Your inspecor can usually detect when water has come through by looking at the concrete for signs of water stains.
The home inspector will also look for signs of erosion around your house, especially around the foundation, pilings, or outside fixtures. Erosion around the foundation is bad news for home buyers as it could require contruction of a retaining wall to stop the erosion. A large retaining wall costs anwhere from $10,000 - $30,000. This cost should be passed on to the seller wherever possible.
A thorough home inspection will also involve looking for pests. Wood boring pests such as termites are of concern because they can cause a lot of damage. The inspector will look for any wood surfaces that are in direct contact with the ground, as this can be a way that termites are able to infiltrate your home.
A good home inspector will perform a battery of other tests, including: an inspection of the outside of the house for weathering or damage; a check-up of the electrical systems; testing of appliances and water pressure. You can tag along and write down things that the inspector finds, or just wait to receive a written report from the inspector at the end of the process.
You can use your inspection report to renegotiate with the seller if there are any items turned up that you would like to have fixed. Forward a copy of the inspection report to the seller along with estimates for making the repairs. It's a good idea to ask that the cost of repairs be deducted from the final sales price of the house rather than having the seller make the repairs because you may receive shoddy work if you leave it up to the seller.