A young couple - Sheila and Jim - recently bought their first home. While looking for the "right home" they did their research, asked the right questions and received expert advice. EXCEPT ONE!

They took the advice of a well-meaning uncle who suggested that they avoid paying $350 for a home inspection. They chose to have a close friend who has some experience in building homes, do the inspection. The inspection resulted in the seller making about $750 in minor repairs. At that point everything seemed to have checked out fine.

About 3 months after Jim and Sheila moved into their new home, the AC unit started blowing warm air instead of the cold air they were used to. The unit was checked by an AC technician who found a leak and rusted coil. Estimates of the repair varied from $1500 to $3300.

Saving $350 actually cost the young cople thousands of dollars. Lesson learned? DON'T BE PENNY WISE AND POUND FOOLISH!

If you have to cut cost somewhere in the home buying process NEVER EVER avoid paying for a thorough home inspection. Also, be aware that paying $100 to an inexperienced home inspector is just as bad.

If you are obtaining an FHA or VA loan, you will also have to have an additional inspection. This may not be a thorough inspection, so be prepared to have a thorough inspection by a seasoned inspector.

Many real estate offers are contingent on the results of the thorough and professional inspection. This means that if the inspection turns up something like a leaking roof, you can have the seller completely repair the problem, reduce the asking price of the house or back out of the contract.

When searching for an inspector, it is recommended that you hire someone with experience who is certified by the American Society of Home Inspectors or your state board of Professional Engineers. These certified inspectors follow a strict standard of practice and are better trained to find defects and recommend the necessary repair(s).

Major Points of Inspection
Here is a list of some of the major areas inspectors will cover:

Yard: pavment, driveway, fences, sprinker system, drainage, grading

Foundation and Exterior Structures: foundation type and construction, exterior walls, paint peeling, termite or rot damage, doors, windows, porch, deck, stairs, water penetration, swimming pool and pump

The Roof, Attic: roofing type and materials, insulation, gutters and down spouts, chimney, ventilation, skylights, vents, turbines/fans, leakage

The Electrical System: fuse and breaker panels, switches and outlets, proper grounding, electrical fixtures including ceiling fans and bathroom exhaust fans, code violation

The Plumbing System: main pipe to the house, internal pipes, water pressure, water heater, sinks, faucets, tubs, showers, toilets, washing machine, dryer, garbage disposal, drainage

HVAC/Fireplace: heating type and condition, furnace, heat pump, duck work, grills

Air Conditioning: equipment type, compressor, load capacity relative to the size of the house, ductwork, vents, air handler, drain pipes, filters

Kitchen Appliances: refrigerator, stove/range, burners, oven, oven elements, temperature calibration, grills, vents, microwave, dishwasher, trash compactor

Not to be overlooked: the presence of radon gas, lead paints, asbestos

Freddie Mac's Homebuyer's Kit
The purpose of this kit is to give you the tools you need to select and maintain the right home for you...this kit will explain how to conduct your own consumer home inspection with an easy-to-use, step-by-step approach. Once you’ve evaluated your results, you’ll be better equipped to make a wise decision.

The consumer home inspection does not replace the professional home inspection. You do the consumer home inspection before making an offer to purchase a home. Once you conduct your own consumer home inspection and make a decision to buy a particular home, you will sign a contract and have the home you’ve selected professionally inspected.

The professional home inspector gives you an objective and comprehensive report before closing. In addition, you may want to have the home tested for possible environmental hazards which are not usually visable, including, lead in the water, lead in paint, asbestos, radon or other toxic materials.

This information was written by Anthony Thomas, homeowner, investor and former Century 21 Real Estate Agent. The information provided here is for educational purpose only and should not be considered a substitute for professional advice from real estate personnel.