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Home Inspection 101By Nymeo March 29, 2022

On average, a victim of elder financial abuse loses $120,000 per incident. Losing money or possessions to scams, fraud, and exploitation can be especially devastating to older adults, who may not be able to earn back what they’ve lost.

Criminals will go out of their way to scam the elderly. Below are common scams to watch out for:

Common Scams Targeting Older Adults

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What is a "home inspection"?


A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. Having a home inspected is like giving it a physical checkup. If problems or symptoms are found, the inspector may recommend further evaluation.

What does a home inspection include?


Typically, the inspector will review the condition of the home's heating system, central air conditioning system, plumbing and electrical systems. Also, they will review conditions of the roof, attic, and visible insulation; walls, ceilings, floors, windows, and doors; the foundation, and basement.

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Do I need a home inspection?


The purchase of a home is the largest single investment you will ever make. You should learn as much as you can about the condition of the property and the need for any major repairs before you buy, so that you can minimize unpleasant surprises and difficulties afterwards.

After the inspection, you will have a much clearer understanding of the property you are about to purchase.

If you are already a homeowner, a home inspection may be used to identify problems in the making and to learn preventive measures which might avoid costly future repairs. If you are planning to sell your home, you may wish to have an inspection prior to placing your home on the market.

How much does it cost?


The inspection fee for a typical one-family house varies geographically. The inspection fee may vary depending upon the house’s size, particular features, and age. It is a good idea to check local prices on your own.

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Can I do it on my own?


Even the most experienced homeowner lacks the knowledge and expertise of a professional home inspector who has inspected hundreds, perhaps thousands, of homes. An inspector is familiar with the many elements of home construction, their proper installation, and maintenance.

Can a house fail inspection?


No. A professional home inspection is an examination of the current condition of your prospective home. It is not an appraisal. A home inspector, therefore, will not pass or fail a house, but describe its physical condition and indicate what may need repair or replacement.

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When do I call in the home inspector?


A home inspector is typically contacted right after the contract or purchase agreement has been signed and is often available within a few days. However, before you sign, be sure that there is an inspection clause in the contract, making your purchase obligation contingent upon the findings of a professional home inspection. This clause should specify the terms to which both the buyer and seller are obligated.

How do I find a home inspector?


Actually, the best source is a personal referral, someone who has been satisfied with and can recommend a home inspector they have used. But the names of local inspectors can be found by searching the American Society of Home Inspectors® database or by contacting a real estate agent.

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Category: Home Ownership

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