When you finally find the home you want to buy, it’s easy to get caught up in the excitement. You’ve toured the place, imagined your furniture in it, maybe even pictured your morning coffee on the porch. The last thing you want is to slow down the process with more steps or lose out to another buyer’s offer because they skipped their inspection.
But here’s the thing. Buying a home is one of the biggest financial decisions you’ll ever make. And no matter how perfect that house seems, skipping a home inspection is a risk that could cost you a lot more than just time.
What Exactly Is a Home Inspection?
A home inspection gives you a detailed look at the home’s condition after your offer has been accepted and the buyer and seller are in a binding, legal contract. I strive to have my buyer client’s home inspections performed within 5-7 days max after going under contract. In our market here in the North Carolina Triangle, the home inspectors that I trust and recommend go over the home’s major systems and structure, including things like the roof, foundation, plumbing, electrical, HVAC, and more.
Why an Inspection Is Worth It
Here’s a quick rundown of some of the biggest benefits of getting an inspection.
- Helps you avoid unpleasant surprises. A house might seem move-in ready, but could have issues you didn’t see during your walkthrough. Knowing about these before closing day is important. That way, you have a better idea of what work may need to be done to the home.
- Gives you negotiating power. Depending on what the inspection turns up, you may be in a position to re-negotiate with the seller. For that, lean on your agent. With their help, you can ask the seller to handle repairs before closing day or provide a credit so you can take care of them yourself. Sellers are NOT REQUIRED to make any repairs in North Carolina, but some inspection issues could be the difference between the deal staying together or falling apart. Most sellers do not want a deal to fall apart at the last minute only to still have to make substantial repairs prior to relisting.
- Offers you peace of mind. Buying a home is emotional, especially if you’ve been searching for a while. An inspection helps take some of the uncertainty off your plate, so you can move forward with confidence.
A few hundred dollars upfront for the home inspection could save you thousands in surprise repairs later. As the National Association of Realtors (NAR) says:
“Failure to obtain a home inspection could potentially cost you a great deal of money and hassles in the long run.”
Why You Don’t Want To Skip Your Inspection
According to the latest data from NAR, nearly 1 in 4 buyers are waiving (or removing) or skipping inspections when they buy a home. And with spring being peak homebuying season and buyer activity already heating up, you may be thinking about doing that yourself. As Realtor.com points out:
“ . . . if you’re in a hot real estate market where homes are getting multiple offers, there might be a temptation to skip an inspection when you really want the house. However, waiving a home inspection comes with sizable risks.”
But skipping the inspection is a gamble that doesn’t necessarily pay off. Just remember, there are other ways to make your offer attractive to sellers, like offering strong financial terms or being flexible with the closing date. Before making an offer, talk to your agent about other ways to get a seller’s attention without sacrificing your peace of mind.
Bottom Line
Even if skipping an inspection sounds like a way to make your offer more competitive or speed things up, it’s risky. It’s not just extra time and documentation, it’s a smart step that protects your wallet, your investment, and your future.
If you could ask a home inspector one question before buying, what would it be? Let me know via my email and I’ll make sure it’s the first thing we bring up.
Thanks for reading!
Brandon Yopp