First Time Home Buyer: Your First Home Inspection

First Time Home Buyer: Your First Home Inspection

Being a first time home buyer is an exciting experience, but can also lead to some nerve-wracking moments. Making a serious financial decision like purchasing a home requires that you be prepared and informed as much as possible. One of the best allies a first time home buyer has is a good home inspector. They know what issues to look for that a layman would not be familiar enough to think about. Here are a few tips on how to navigate your first home inspection.

Find the Right Inspector

Try to find a home inspector who comes with good referrals. Often times, your lending officer or real estate agent will recommend someone they have worked with before. This can be a good start, however, do not be afraid to find an inspector on your own. Asking friends or family for a referral can help you to find someone trustworthy. If you do not have someone who can give you an inside scoop, try searching for online reviews for an inspector in your area. The state housing authority will usually have a list of certified inspectors in your area.

Ask Lots of Questions

As a first time home buyer, it is completely normal for you to ask a lot of questions of your home inspector. Find out how much the inspection will cost and what they will be looking for. Find out when you can schedule the inspection so as not to lose out on the chance to purchase the home. Usually, the sooner the better as the home purchasing process can move quickly when multiple potential buyers are interested. Ask them how quickly they can get back with their official report so you can factor that into your potential time-frame.

Research Costly Repair Options

Being familiar with potential home repairs can be a very important step in the inspection process. A first time home buyer usually is not familiar with repair costs, especially if they were a renter beforehand. Set some limits on how much you are willing to spend on repairs. Some issues like minor bathroom plumbing or cosmetic damage can be done for relatively cheap or even as a DIY project. However, a house that requires wiring repairs or major foundation work may be outside of your budget. Being familiar with potential repair costs can help you to decide if the work required is worth the purchasing price. Your inspector can be a good source of help as well for estimating potential costs.

Contact David Jacobson – OakStar Bank if You Are a First Time Home Buyer

Being a first time home buyer does not have to be a difficult experience. Being prepared and having good resources that can help you make informed decisions can make the home buying process much easier. David Jacobson has over twenty-five years of residential real estate experience. If you need an ally to help you in the home buying process, David Jacobson is the home loan lender for you. Call us today at 417-830-7300 to get started today!

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