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4 Key Things to Look for in a Home Inspection Report – The Motley Fool

Image source: Getty Images

Take a good look at that inspection report.

…….

Image source: Getty Images

Take a good look at that inspection report.


Key points

  • A home inspection is essential if you’re buying a house.
  • A good home inspector will prepare a detailed report for you after an inspection.
  • There are some red flags to look for within that report, including roof issues, pest problems, and pool leaks.

If you are thinking of making an offer to a seller to purchase their home, you will likely want to make that offer contingent on a successful home inspection. Otherwise, you could find yourself buying a money-pit you have to pay a fortune to fix.

Once you have an accepted offer conditioned on the inspection outcome and you’ve scheduled the inspector to come, you will receive a report detailing what that inspector found when they visited the home. You’ll likely get a multi-page report, and you need to know what to look for within it.

Here are some of the key things you should watch out for when the inspector sends the report your way, and why.

1. Problems with the roof

A roof can cost tens of thousands of dollars to replace. And repairing leaks in it can be difficult since it’s often hard to tell exactly where a leak is coming from. A roof leak can also cause all sorts of difficult and expensive problems including mold. That’s why you’ll want to check the inspection report carefully to see if there are any issues with the roof.

If the inspector indicates either an active or past leak, or suggests the roof is nearing the end of its usable life and will soon need to be replaced, this is a major red flag. You’ll want to ask the sellers to make fixes or ensure the price is low enough that you’d be comfortable paying for a new roof in a short time even while covering the costs of your new mortgage loan.

2. HVAC issues

Problems with the heating, cooling, and ventilation system can also be expensive to deal with. A new air conditioner alone could cost thousands to buy and install. So be watchful for a note from the inspector about how old the components of the HVAC system are and how well they work.

The inspector should note if any of the units are nearing the end of …….

Source: https://www.fool.com/the-ascent/mortgages/articles/4-key-things-to-look-for-in-a-home-inspection-report/

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