How Home Inspections Can Affect The Value Of The Home You Want To Buy

A home inspection will alert you to any problems with your prospective new home and potentially save you money. However, Howells Legal states that only 20% of homebuyers get an inspection before buying a property. As a home inspection can impact the overall valuation of a property, you must arrange one before parting with any cash or signing any documents. Let’s discover the different types of inspections you can have and how they can affect the value of a home.

In-person inspection

An in-person inspection is the most detailed inspection you can have. There are 3 types you can choose from; Condition Report, Homebuyers Report, and Building Survey. A Homebuyers Report and Building Survey are the inspections most likely to find a problem. The condition of various aspects of the property inside and out will be highlighted and risks and defects will be noted, such as subsidence issues, rising damp, and similar. Depending on the extent of the mould and damp, the value of the property could decrease by as much as 53%. A full building survey is in-depth and will detail the cost of all repairs needed on the property. This can help you negotiate a new price with the seller.

Drive-by inspection

You’ll be surprised at how much a drive-by inspection can pick up. Inspectors will often use binoculars to get a good look at the exterior of the property, as well as the roof. The exterior can give away a lot as cracking is a major sign of subsidence. If subsidence is found, the value of the property could drop by 20%. Signs that the roof is in bad condition include missing tiles, damaged tiles, and broken gutters. After discovering this, you might want to request a more in-depth look at the property’s roof. A drone roof inspection can identify the full extent of the damage by assessing both the inside and outside of the roof, without damaging the surface thanks to non-destructive testing. This then allows a time frame for repairs to be worked out and for an estimated cost for repairs to be given. Roof repairs are considered a major turn-off when buying a home, so the value of the property could go down by thousands. The average cost of a new roof in the UK is £5,500, so bear this in mind when discussing the price with the seller.

Desktop inspection

A desktop inspection is usually done via live streaming. The inspector works alongside the current occupant of the property to inspect the vehicle from the comfort of their office. This is a cheaper type of inspection which has grown in popularity since the pandemic. The inspector is also able to fill in the report at the same time as assessing the property. Maintenance issues are most likely to be picked up in this type of inspection. The Daily Express reports that these types of problems can devalue a property by around 10%.

Property inspections are a crucial part of the house-buying process and you shouldn’t ever consider skipping them. There are several different types to choose from and all of them can lower the value of the home you intend to buy.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Estate Agent Talk

Essential Garage Storage Solutions for Small Spaces

Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1.  Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More
Home and Living

How to Protect Your Property from Flooding and Water Damage

Flooding and water leaks can cause significant damage to your home or office. However, many issues can be prevented by taking proactive measures to protect your property. In this article, we’ll explain how to minimize risks and prepare for potential water-related threats. 1. Inspect and Maintain Your Plumbing System One of the most common causes…
Read More
Breaking News

ONS House Price Index – November 2024

Headlines Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate); this is up from 8.4% in the 12 months to September 2024. Average rents increased to £1,348 (8.8%) in England, £766 (7.9%) in Wales, and £976 (6.6%) in Scotland, in the 12 months to October 2024. In Northern…
Read More
Breaking News

Foxtons Lettings Market Index October 2024

Headlines October saw the highest level of new stock entering the market, with an 8% increase from last year, the highest increase in four years October’s demand is marginally lower than last October and decreased 32% from September, as expected during this time of year Following a yearly high of £593 per week this September,…
Read More
Breaking News

Breaking Property News 20/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Proptech powered lettings service for BTR developers needing pre-approved, quality tenants at speed gets funding A proptech-driven letting agent has secured close to £500,000 during its first equity investment raise. Property Sense, headquartered in Stockport but operating nationally, secured the half a million pounds in…
Read More
Kerb appeal
Estate Agent Talk

Why November and December are the best and most affordable months to buy

Buyers and sellers looking for the right time to move can consider top reasons from property experts to start the process this November and December. The autumn and winter months may not be the first that come to mind when considering a move, but potential buyers and sellers can be reassured by the experts that…
Read More