Is Home Inspection Necessary When Buying a Home in LA?September 13th, 2022 by Administrator
In general, a home inspection is not required to buy a home in Los Angeles. It is possible to buy a home without having it inspected. However, a home inspection is worth it when buying a home anywhere because it reveals the true condition of the home and not just what you see on the surface.
Take note that appraisal is usually required when you apply for a mortgage loan to pay for a home purchase.
There is no law or regulation defined by the Department of Housing and Urban Development that says it is a must for you to buy a home only after a home inspection. But, they also strongly recommend a home inspection to gain valuable insights and make a decision on whether it is worth it to invest in the home or not.
What makes home inspection worth it?
When approached, a home inspector evaluates all aspects of a house, including the roof, the foundation, the electrical system, plumbing, and more. Certified home inspectors receive specialized training to evaluate a home thoroughly and prepare a detailed report to provide the maximum information about your real estate investment.
In California, home inspections usually cost $350.00 to $700.00. However, the cost might vary based on the size of the home and the complexity of the inspection itself. For example, inspection for a large home might cost more than a condo or a smaller house.
Nevertheless, it is a small price to pay to ensure peace of mind. Imagine buying a home where you soon discover that the attic is not in good shape, the plumbing doesn’t work properly, and your toilet keeps backing up. On top of that, the area behind the cupboard is plagued with mold. It is not uncommon for many homes to have these issues.
Since buying a home is not a small investment and it is going to restrain you financially, you would want to make sure that you are making a good investment and that there are no surprises related to your new home in the near future.
A proper home inspection gives you a clearer picture of the home’s current condition and informs you about any potential repairs that might be needed. Home inspectors may also point out potential health and safety issues, such as faulty wiring in an electrical panel.
Are home inspection and appraisal the same?
Even though home inspection and appraisal might seem similar terms, they are entirely different processes.
- A home inspection includes the evaluation of the house’s condition of the house and identifying items that require repair. A home inspector is not concerned with the market value of the home you are buying.
- On the other hand, a home appraisal means determining the current market value of the house, based on recent sales activity in the area and various other factors.
Getting a home inspection done also helps real estate brokers and agents better negotiate with the seller if major issues are found in the report and ensure that you are paying for what you are getting.