What is the purpose of a home inspection when you buy a home?

 Many buyers ask why they need to hire an inspector when buying a home. Here are a few tips that can help you think about the value of an inspection.

A home inspection helps buyers identify health, safety issues, defects, and generally needed repairs that you can ask a seller to address before closing. You can uncover items that may need to be remedied such as an old roof, furnace, or water heater. Items may be minimal or high cost. In this case an experienced inspector can save a buyer from making a very costly mistake when purchasing a home. A great inspector is worth their weight in gold.

You can also think of a home inspection as a tool when making an offer to a seller. In this past competitive market, many buyers felt a "no home inspection" made their offer attractive. This is true. But do not make this decision lightly and get help from your agent in making such a decision. There are some markers of a home that as an agent I know are red flags. It is okay to decide not to inspect as long as you understand the risk you are taking when you do not inspect. 

Another useful point to know is that even when you decide to inspect, you can write an offer that states that you will not ask the sellers to do any repairs or you can simply cap the repair-ask at $500. Finally, an inspection allows the buyer to walk away from a home with issues that they are not prepared to deal with.