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7 Crucial Components of Your Home Inspection (Watch Out for #7)

Friday, October 14, 2022   /   by Laura Larson

7 Crucial Components of Your Home Inspection (Watch Out for #7)

Making sure your next purchase is a wise investment requires a thorough home value. The valuation process starts with the figures on paper, but the numbers need to be supported by a careful property inspection (walk-through). You will be able to accurately estimate your rehab cost if you can accurately assess these 7 aspects of any building, but I am confident that you will omit the final one.

The 7 Crucial Components of Your Inspection
Cosmetics shouldn't be the main focus or the determining factor in how much you will pay for a house when completing a walk-through. To ensure that you avoid going over budget for renovations, each house has seven crucial components that must be properly examined. These regions should be considered as you pass through them to support your position:

Why are property inspections crucial?

Considering that you are not a house inspector and that you most likely lack experience or only have enough to be risky. No offense intended, but everyone started off with no experience. But in both cases, it screams to me that a house inspection is necessary.

I recently purchased my favorite kind of house: one that needs a lot of work is ugly and is out of date. The property has wallpaper from the 1970s, carpet that was once white, tiled counters, and wallpaper from the 1980s, along with weeds in the rear and a smoky scent inside. It has additional wallpaper, out-of-code stair rails, and an odd arrangement that can be fixed. (Ugh, I wish the person who created the wallpaper would die!)

1. Foundation
2. Roof
3. Plumbing
4. Heating/Cooling
5. Electrical
6. Windows
7. Infestation

These components keep the house operating as intended. Home has three levels, which I usually refer to as the Mind (electricity), Body (foundation/roof), and Soul (plumbing/heating/windows). By concentrating on these areas, you can typically save thousands of dollars.

The home has three "Levels."
Mind - Keep in mind to inspect the electrical panel box before entering the property. Check to check whether there is a fuse box or a circuit breaker box; this is crucial because fuse boxes frequently fail city inspections and prevent insurance companies from covering the property. A fuse box is also not allowed per FHA guidelines if the property's exit plan is to find a retail buyer, narrowing the pool of potential buyers. Another issue will be the knob-and-tube wiring in homes built before 1950. Electrical wiring of this type is risky and expensive to replace. This type of electrical wiring needs to be replaced if it is present across the entire building. Many insurance providers also won't cover a building with this wiring. Knob-and-tube wiring is dangerous for two reasons: first, it predates 1950, and second, it ages and deteriorates over time, which can lead to improper electrical current distribution. Because there is no ground wiring in knob-and-tube wiring, the current could start a fire. In conventional electrical wiring, the ground wire will channel that energy. During the examination phase, carefully inspect the electrical wiring.

Body - A property's structural problems may cause deadlines to be missed. I have frequently seen investors fail to thoroughly inspect the roof or the foundation. The roof line of the building should be assessed as you get closer. Look for turned-up or missing shingles; if you see these, assume the property has rotting timber or mold. Dealing with a roof that is nearing the end of its useful life is extremely obvious, and if it is dealt with right away, it can save money and time on a project. On the other hand, foundation issues are the most feared word when dealing with rehab and can rapidly scare any buyer. Obtaining severely discounted properties with this issue won't be a problem if the means to repair a broken foundation are available. Stress cracks in the garage slab, cracks in the walls, and cracks around doors and windows are indications of a weak or broken foundation. and improperly closing doors can be encountered in homes with foundation issues. The owner will frequently claim that the house is only settling because it is 30 years old, which may be true, but significant fissures indicate something more serious.

Soul - The HVAC and windows are the heart and soul of the house. If windows need to be replaced, they are simple to identify. Windows increase the value of a building in two ways: they increase the property's aesthetic appeal, or lack thereof, and its energy efficiency. I like to say windows are the eyes of the house, but there is an old saying that states "eyes are the window of the soul." The property will be efficient if the windows are in good condition. This is crucial for landlords and mid to high-end flippers. Windows can save landlords money and provide enormous profits for a flipper.

The HVAC systems are the building's lungs, but I think of this system as having a soul. HVAC is crucial since it affects the property's energy efficiency and rating. Keep an eye on the furnace's operation at all times. To determine how old the unit(s) are, try to locate the production date first. Second, check to verify if it was properly maintained; often, the dates of inspection are labeled on the units. Pull off the furnace filter to see if this is visible; doing so will reveal how the unit was maintained. Similar procedures should be followed with the water heater, with the exception of checking the filter.

Infestation - This phase is often missed by investors because it is not as obvious as the others. This is a problem with properties in wooded areas, but it also happens in lots of residential areas. At the time of the inspection, infestations might not be active, but after the demo is begun, they could cause significant issues. Mice, rats, raccoons, squirrels, scorpions, wasps, roaches, mites, termites, and many other creatures can cause infestations. The harm caused by these skulking rodents might influence the other major systems of the building and can be difficult to eradicate. When conducting an inspection for infestations, keep an eye out for mud tubes around the foundation of the building for termites and shredded paper or droppings in cupboards for mice and rats. Nutshells or borrows for squirrels and raccoons in the attic. A different strategy is required for scorpions; if you are in an area where scorpions are common, you will need to bring a black light with you while conducting the check. In gloomy places where scorpions like to hide, this light makes them more noticeable.

The fact that many animals will chew on wires, beams, and insulation if you ignore them is a grave mistake. If you have this issue, contact an exterminator right once to take care of the situation. Even though they may appear innocent in the wild, if they enter a building, they may do thousands of dollars in damage. During your home inspection, are you overlooking this? Then take caution!