Have you been working with a Toronto real estate agent and found a home you’d like to buy? Before you complete the purchasing process, it’s important that you have the home inspected. Buying a new or pre-owned home is one of the largest purchases a person can make in their lifetime. So, doing everything you can to protect yourself during a real estate transaction is important. Continue reading to learn more about the home inspection process and why you should never underestimate this crucial part of the homebuying process.
What Problems Do Home Inspections Identify?
New homes for sale and older properties need a standard home inspection. Home inspections give buyers peace of mind that they’re making a sound purchase. The whole point of an inspection is to unveil any hidden issues inside the house that could have serious financial ramifications for you after the sale. Not only do these inspections unearth costly problems, but they also make sure the property is safe to inhabit.
The home inspector’s checklist includes a complete examination of the home’s major systems such as the electrical and the plumbing. This will uncover leaks, exposed wiring, and other potential problems. The inspector will also check the home for water damage, structural problems, missing insulation, and roofing issues.
What Will the Inspector’s Report Detail?
It’s not unusual for homes for sale in Toronto to have their little issues. Your inspector will provide you with a detailed report of their findings, making a special note about the ones that have the most serious consequences. If the inspector finds something that’s particularly concerning, they may recommend you get a follow-up inspection with a specialist. An example of this situation could be if the inspector notes several cracks in the foundation. The report may suggest there are structural issues, but the would-be homebuyers should consult with a foundation expert to get an idea of the extent of damage and repair costs.
An inspector might also recommend following up with a specialist if the home is a certain style with historical features. For example, Victorian homes for sale are older and may have electrical or plumbing problems because of their unique design. A specialist could tell you if these flaws would contribute to safety issues and the proper repairs needed to maintain the home’s historic integrity.
How Long Does a Home Inspection Take?
Most home inspections in Toronto take 2-3 hours. However, it can take longer or shorter depending on the home’s size. If you need to take off work to be present for the inspection, ask the inspector how long they expect the inspection to take.
Do Buyers Need to Be Present During the Inspection?
It’s not a requirement for the buyer to be present, but it’s a good idea. Being on-site during the inspection gives you the opportunity to ask questions. Don’t worry. You won’t be in the way. Most home inspectors welcome the buyers so they can point out potential problems and make suggestions for repairs.
Are Home Inspections Regulated?
The Home Inspection Act that was passed in 2017, which requires home inspectors to be licensed. It is mandatory for the inspector to have an education and training. This was passed so that home buyers can feel confident in their home buying experience. It is a great idea to ask your real estate agent for recommendations of home inspectors they’ve worked with in the past.
Are you buying a new home in the neighbourhood? With so many homes for sale in Toronto, it’s important to work with real estate agents who know the market well. For the best homebuying guidance, contact Merenda Real Estate Group at (416) 240-7653.