Purchasing a home will likely be one of the largest decisions and financial commitments you will make in your life, so it’s important to make an educated and informed choice.
Buying a home should be an exciting time in your life. You won’t want to find any surprises after you’ve already bought the home that could lead to financial hardships or health and safety issues. To make sure the home you are interested in buying is safe and up to code, we highly recommend completing a home inspection before completing the purchase to make sure you properly evaluate the home and property.
Why is a Home Inspection Important?
Completing a home inspection before buying a home is one of the best ways to ensure that the large financial investment you are about to make is the right one. It’s an important, if not essential step in the property purchasing process. With a home inspection being completed before the purchase of a home, you can obtain a deeper knowledge of the home and property so you can be aware of any negative elements before you make your decision. A home inspection creates the opportunity to uncover any unknown safety or structural issues which can give you insight into potential future expenses. It will also help to make you aware of any health or safety issues that may be present in the home. The more knowledge you have about the home you are about to purchase, the better position you will be in to negotiate the price with the seller. Just because a home looks nice and new, doesn’t mean there isn’t anything wrong with it, so having the home inspected will help you have the best possible buying experience and outcome.
How Do You Choose a Home Inspector?
You will want to ensure the home inspector you choose is certified and a member of an association or professional order. We recommend choosing a home inspector from the Ontario Association of Home Inspectors (OAHI) and someone who is from the area you are purchasing a home in to guarantee they are knowledgeable about the type of home and property you will be purchasing. We recommend looking for a home inspector that has many years of experience in the business and who has positive online reviews.
What Does a Home Inspection Cover?
A home inspector will evaluate the visible areas of the home and any accessible indoor or outdoor areas on the property.
This will usually include the following:
- HVAC (heating and cooling systems)
- The foundation
- The roof, flashings, and gutters
- Windows and doors
- The basement
- The electrical systems
- The insulation
- The garage
- The exterior of the home
We recommend that you attend the home inspection so you can ask the home inspector any relevant questions you may have about their findings.
What Questions Should You Ask After a Home Inspection is Complete?
Major and Minor Issues
Once your home inspector has completed their inspection, you will want to ask them to explain any parts of the report to you that you don’t understand or that concern with. You will want to ask them what the major and minor problems are, what you should be concerned about in the home and property, and if you will need to call in any additional experts or specialists to address any issues found during the inspection. You will also want to ask your home inspector if any home maintenance tasks will need to be completed or fixed once you move in.
Have the Right Home and Property Insurance
Once your home inspection is complete and you have decided to purchase the home, your next step will be to reach out to your insurance broker to inquire about home and property insurance to ensure your investment is protected.
Property insurance policies not only provide coverage to your home and contents for fire, theft, and other hazards, but it also covers personal liability, including if someone is injured on your property or if you cause damage to someone else’s property.
At Youngs Insurance Brokers, we can assist you with customizing your home and property insurance policy, to cover the things that are most important to you. We take the time to explain what your policy covers and help provide protection that is right for you, your home, and your property.