You’re in the thick of the home buying journey. Your mind is swimming with comps, common charges, and credit scores. Now that you’ve found what you hope will be your new home—do you need to get a home inspection?
Don’t Hide From The Inspection, Embrace It!
Getting the property inspected is your opportunity to find out if anything is amiss—anything from leaky pipes to gas connection issues to water damage and beyond. Is the wiring looking good? Fingers crossed that it doesn’t look prewar too.
Buyers in NYC are frequently run so ragged from the marathon of buying that they push the home inspection off to the side. Here are some common reasons why this happens.
- Buyers think that nothing, at this point, could persuade them to walk away from the sale.
- Buyers aren’t familiar with the utilities and systems within the unit and may be intimidated.
- Buyers think that the greater building’s board/association/etc. is responsible for repairing most issues.
Buying a new home is a massive investment, especially in NYC. Take the time and money to get your new home inspected by a certified professional.
In New York State, home inspectors have required training, must pass an exam and take continuing education classes to maintain licensure. Home inspectors will provide a written report of their findings. They look at home systems like heating, cooling, electric, and plumbing as well as structural components.
Read reviews for home inspectors online—those reviews will let you know if an inspector is particularly good at explaining the systems and what they see (both good and bad) during the inspection. Bonus: you can learn a thing or two about your new home in the process! You can also ask friends and your broker for home inspector recommendations. Double check to make sure that the home inspector is licensed through the state.
New Buildings Can Have Their Issues Too
Problems can arise in any building—large, small, new or old. New units can sometimes have appliances, windows, etc. that haven’t been installed properly. A leak around the window could really cramp your style.
If the unit you’re interested in buying is in a smaller building, the home inspection can be of particular value. Consider: a major repair to a 10 unit building—one that impacts all of the occupants—could cost thousands of dollars or even tens of thousands of dollars. That burden gets passed on to the co-op or condo owners. If a home inspection turns up issues on that level, you can either walk away or move forward being more informed.
Who Foots The Bill For The Home Inspection?
The buyer pays for the home inspection. Expect to pay about $500 to have a one-bedroom unit inspected; prices will be higher for larger units. And remember that the home inspection has to be completed before you sign the contract. It may seem that a home inspection is just another line on the budget, but the home inspection brings your attention to issues big and small—including potential health concerns—and can also offer peace of mind.