Even though the Florida housing market is more competitive than many other states, starting a property search in Orlando involves the same basic steps as anywhere else.
Generally, this means:
- Getting pre-approved for a mortgage so you know the approximate price you can afford
- Start the process of contacting a real estate agent
- browse classified ads or search property listings online in an effort to find a home that matches your specific needs, taste and budget.
However, it is essential that you fully take everything into consideration before signing a contract as otherwise you could soon come to regret your decision.
In this sense, a home inspection is one of your most useful tools, and here are just a few of the many reasons that it is vital you pay close attention to the home inspection results before deciding to buy a home.
Spot Potential Problems Before You Buy
Obviously, not all homes for sale will be built as strongly or to the same standards. Just like not every homeowner or renter takes care of their home and property or does as much work on the building before putting it up for sale.
What this means is that you’re liable to come across homes in every possible condition—from completely rundown to immaculately maintained.
However, looks can be deceiving, and the problem is that the average individual usually doesn’t have the knowledge, skills or equipment it takes to spot every possible problem. Most of a home’s plumbing, electrical and other major systems are hidden away from view makes it essential that you pay attention to the results of the home inspection instead of simply trusting your instinct.
In this way, you should be able to avoid the need for expensive future repairs by ensuring your new home is free from any major problems before you buy.
Ensure the Cost of Necessary Repairs Figures into the Purchase Price
Just because a home is in need of repair doesn’t necessarily mean it’s not worth buying. It’s quite common for a home inspection to reveal:
- Roof damage that requires repair or replacement
- Leaking pipes that need fixing
- An HVAC system in desperate need of an overhaul
- And other major issues that could make you think twice about buying the property
However, the truth is that there is nothing wrong with buying a home in need of minor repairs or even a complete fixer upper as long as the price accurately takes into account the cost of all necessary repairs.
Although you can definitely find newer homes in perfect condition, many houses for sale in Orlando Fl. could need a bit of work before they meet your specific requirements. Luckily, having the results of the home inspection in hand should make it easier for you to negotiate by showing approximately how much all of the repairs will cost.
Avoid Sinking Your Hard-Earned Cash into a Money Pit
If you choose to ignore the results of a home inspection or forego the inspection altogether, you could be lucky and end up only needing to fork out a bit of cash for some minor repairs. Other times, you might soon find yourself needing to pay thousands for a new roof or even more should you discover major damage to the foundation or other important structural components.
Still, the worst case scenario is that you find yourself stuck in a money pit situation where one thing after another continually goes wrong. In this case, those ongoing expenses will obviously have a huge effect on your finances and could potentially erase any benefits that investing in your own home should have brought.
Buying a new home is one of the biggest decisions you’ll ever make, and this can tend to make the whole experience extremely stressful. The situation becomes even more hectic if you’re also selling your home at the same time.
Nonetheless, the most important thing is that you don’t panic and rush into a decision you might regret. Instead, it is essential that you carefully consider all of the important factors, including the overall condition of the home and whether or not this is accurately reflected in the price.
