If you’re thinking about listing your home, one thing you might be nervous about is the home inspection. A home inspection is standard practice on most real estate transactions. An essential part of my job as a real estate agent is educating and protecting my clients. Therefore, my job is to teach my clients the pros and cons of a pre-listing inspection.
According to American Society of Home Inspectors a home inspection report will include:
- The condition of the home’s heating system
- Central air conditioning system (temperature permitting)
- Interior plumbing and electrical systems
- The roof
- Attic and visible insulation
- Windows and doors
- The foundation
- Basement and structural components
Should You Get a Home Inspection Before You Put Your Home on the Market?
While each house transaction is different, a pre-listing inspection is very beneficial. It is better to know beforehand rather than receiving a nasty surprise down the road.
Benefits of Pre-Listing Inspection
If your home does require repairs, doing them ahead of time will help move the selling process quicker. Along with this, it will allow you to shop for lower-priced supplies, will enable you to gather estimates for the repair, will allow you to hire your favorite contractor, or will enable you to make the repairs yourself.
Repairs vs. Upgrades
You will need to know the difference between maintenance repairs and home upgrades. Making necessary maintenance repairs does not mean that you can increase your list price. Repairing or replacing your home’s roof does not pump up the sale price, but it is useful as a marketing point over other listings in the area. Therefore, a roof is a maintenance repair; it is not an upgrade, such as a kitchen renovation.
If you choose not to make the necessary repairs, know that it could negatively impact your sale price. For example, if you want to hold off and do not take care of a $1,000 plumbing repair, potential buyers will think about the time, inconvenience, and repair cost. There is a possibility that a $1,000 repair could translate to a $3,000 reduction to the asking price.
You Must Disclose
‘Honesty’ is the only policy! Failing to disclose a problem found in the inspection could translate into a much larger problem down the line.
Although I have given multiple benefits for pre-listing inspection, it is vital to consider the pros and cons. I would be glad to sit down with you and talk about your specific concerns you may have about your home if you’re preparing to list it. Contact me today! 928.830.6976