Whether you are a First Time Home Buyer or a veteran Real Estate Investor a Home Inspector is an important part of you “Real Estate Team”. I have many people ask me, “Should I get a home inspection?” or “Do I need a home inspection?” “Is it really worth the money?” My answer is always YES!
A few hundred dollars is a significant amount of money to spend on a home you may or may not buy. I have seen cases over and over again where the inspection has been well worth spending the money for the inspection report. In one case, the buyer learned that the $6000 semi-commercial air conditioning/furnace was not working and needed replacement. Other cases where “the strata minutes” read “fine” there was actually a whole list of deferred maintenance items that could have potentially cost the buyer thousands of dollars over the next several years. In another case the roof needed immediate replacement.
Think of it like insurance, we like to have something to back us up. A good inspector should be giving you knowledgeable information about the building so that you have the full understanding of a building and what potential pitfalls or problems could be lurking around the next corner.
Many clients ask “Shouldn’t I be okay if I have read the strata minutes?” Well that is certainly a good place to start. I recommend reading the Property Disclosure Statement (and Strata Minutes if it is a condo) before the inspection so you can talk to your inspector about any concerns you may have.
Strata Minutes will give you an idea of how the Strata Council operates but in some cases the Strata may not be aware of potential problems with the building or some issues may not have been discussed at a Strata Meeting, so they do not come up in any Minutes…
At the end of the day a good inspector is trained to know about all the building systems and can provide you with more information to help you make a significant financial decision.