BLOG POST VIEW

Nov
30
Should I Buy This House?

temp-post-image

By Mark Jones of Springs Top Inspector LLC.
www.springstopinspector.com

Often I am asked during a home inspection, should I buy this house? Or would you buy this house? When this is asked of me, It is usually at three different points during the inspection The first is after the discovery of a defect in the home that is fairly substantial to the new buyer. I use the term substantial to the new buyer because everyone is different. I will get into that later. The second time is at the end; after we go over the whole report. I am asked, well in your professional opinion should I buy this house? The third is due to other external circumstances. Sometimes buyers are held up or stuck on a different home they liked more and did not get, or a past home; sometimes it is a culture shock/sticker shock after moving from a different part of the country. So this answer applies to all three questions asked during the inspection. To review my home inspector found a challenge or defect in the home that I was not expecting the questions are; Should I buy the home? Second, from your professional opinion would you buy this home? Last, Give me a grade on this home is it 1- 10 or give me a letter Grade A, B, C,D, F.

temp-post-image

Well, a good home inspector will do their job and examine the home for potential defects. Then report them according to their Standards of Practice. A home inspector is not a realtor (negotiator). A Home Inspector does not know the ins and outs of the market, the value of the home, or how the contract was written. For example: If your inspector finds ten thousand dollars worth of defects in the inspected home, but you are purchasing the home for fifty thousand dollars under the current market value is it a good deal? What if the inspector finds Five Hundred Dollars worth of defects, but the purchase price is five Thousand dollars over the current appraised value? These are variables that a home inspector could not possibly know.

The Home Inspector does not know the skill level of the person buying the home. The buyer could be in the trades and have no problem with repairs. While other buyers may need to pay someone to change a light bulb. An example of this, The buyers father or sister is an electrical engineer and wiring issues are not a concern. Their good friend could be an HVAC contractor or even the buyer could work at a roofing company. In no way does the home inspector know the financial situation of the buyer. To some buyers a five hundred dollar repair can be tough to overcome. While other buyers are talking about doing one hundred thousand dollar renovations as soon as they buy the home.

temp-post-image

Last, beauty is in the eye of the beholder; If everyone liked the same thing, there would only be one style of home, one-floor plan, one layout; Thank goodness that is not true. When a home inspector is asked to grade the home on a 1-10 scale or an A, B, C, D, F, it is impossible to answer. For example if I told you to write down a meal that is a 10 or a perfect 10, and I wrote down a meal that is a perfect 10, I bet they are not the same. So What is an A, in school it is a 90 percent or above? So if we use that logic on a home with a purchase price of three hundred thousand dollars; it can have up to thirty thousand dollars worth of deficiencies and still be an A?

temp-post-image

In closing, there is no way a home Inspector can answer the question of should I buy this house? One thing is true, no one wants to buy a money pit. The truth is all homes potentially can be money pits; mine included. You have to be willing to do the maintenance around the home, fix what breaks and understand that if something works today it may not work tomorrow. Everything has a failure point and will need to be repaired or replaced. Even new homes are not maintenance free expect to have some painting and caulking maintenance within days of moving in. Remember conditions will change on your home, sometimes daily. I recommend budgeting 1 to 2 percent of the value of your home for repairs and maintenance each year.

Very Respectfully
Mark Jones CMI, CPI, BPI,
www.springstopinspector.com