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Home inspection benefits for the first-time homebuyer

November 23, 2010 - There are lots of incentives driving potential buyers to the housing market, such as the extension of the first-time homebuyer tax credit, low mortgage rates and many foreclosed properties for sale.
Prospective buyers ought to consider having a home inspection on a property they are looking to buy to be sure that they really are getting a good deal on the property.

Jim Hunter, president and CEO of HomeTeam Inspection Service, said "Inspections are performed in over 90 percent of residential real estate transactions but the quality of services varies; if not addressed, small problems can escalate into costlier issues."

The company reveals several common home defects that may be revealed during a home inspection: poor drainage, which can seep into basements and crawl spaces and potentially weaken the foundation; older HVAC systems, which can potentially emit carbon monoxide and may not be energy efficient; environmental hazards, such as lead paint, asbestos or elevated carbon monoxide levels; and old or damaged shingles on the roof, which can lead to costly long-term damage to the home.

Hunter advises homebuyers to request that home sellers make the repairs before the closing or pass on the property.

The U.S. Department of Housing and Urban Development suggests that prospective homebuyers attend the home inspection so that the potential homeowner can see the property through the eyes of an expert.

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