The typical homebuyer usually always wonders whether or not they should obtain a home inspection, and what kind of inspection, prior to their purchase of a new home. Below we will discuss the differences between the most common inspections performed, and if they would be beneficial to you.
Let’s talk about the two most common types of home inspections, and the difference between the two:
THE 4 POINT INSPECTION covers only the 4 major components of the home:
• Electrical wiring and panels
• Heating, Ventilation and Air Conditioning (“HVAC”)
• Plumbing connections and fixtures
Should I get a Home Inspection or not?
When the inspection of each major component is performed, each item reported is listed with minimal information (such as the age, the make, and whether of not the component is in working condition) during the inspection.
THE 4 POINT INSPECTION is usually required by a prospective insurance company (and sometimes by the underwriter of your mortgage lender as well) in homes 20-30 years of age or older to assure the underlying worthiness of these major systems before extending coverage. If any these components are over their reliable service age limit, it can be of major consequence to the prospective insurance company in the event of a failure, and therefore could reduce or even eliminate the coverage offered to you. THE 4 POINT INSPECTION report will help to determine if your home is insurable, or if repairs will be required prior to obtaining coverage.
Is this the best inspection report for a home buyer to obtain before buying your home? Let’s find out!
THE COMPREHENSIVE PRO INSPECTORS REPORT
This report can be more comparable to your typical homebuyer’s inspection report, only with more detailed information and visual images. It includes the status of the major system in your home, broken down into multiple components. For example, let’s take into account the home’s overhead roof covering. While the 4 Point Inspection report lists only the age and current condition of the roof, THE COMPREHENSIVE PRO INSPECTORS REPORT will include comprehensive information on all elements of roof covering, including the type and geometrical shape of the roof, its sheeting, age, the evidence of any fascia damage, roof repairs, visible leaks, apparent structural damage to the framing and all other noticeable items that may affect the roof’s life expectancy and the overall current condition of the roof itself.
Most homebuyers are aware that a roof’s serviceable life expectancy usually lasts a few decades (if well maintained) before needing to be replaced. Does this mean that it is currently sound and leak-free? THE COMPREHENSIVE PRO INSPECTORS REPORT will list any noticeable repairs needed or recommended by the inspector at the time of the report. This is just one example of the differences between THE COMPREHENSIVE PRO INSPECTORS REPORT and THE 4 POINT INSPECTION REPORT.
THE COMPREHENSIVE PRO INSPECTORS REPORT covers thousands of items that are examined including moisture and termites, that the 4 Point Inspection Report does not. If you are spending hundreds of thousands of dollars on the purchase of your new home, wouldn’t you want to know if it’s worth the money, or if you are buying a property that could turn into a money pit?
THE COMPREHENSIVE PRO INSPECTORS REPORT will also include repair estimates of needed repairs, so now you will be able to outweigh the pros and cons of your potential purchase and determine if the home is worth the cost of required/recommended repairs, or if the home will be a big financial lost. Don’t lock yourself in a long term financial commitment without knowing what you are purchasing. THE COMPREHENSIVE PRO INSPECTORS REPORT will help save you from such a nightmare, and it is pretty much the only tool for a home buyer to rescind a purchase offer, if these problems are identified within the timeframes specified within the contract.
Do you know if your home is in good standing? We’ll be talking in more debt about other components in future blogs. Stay informed and follow us on Instagram .
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