There was a recent post in the BiggerPockets Forums on whether it is smart to hire a professional home inspector. There were many arguments for getting the home inspection done by a professional and a few arguments against it. I think it is very important to get a home inspection done on any potential purchase, but I don’t think you always need to pay for it. There are certain circumstances where a professional home inspector is a waste of money and may even cost you a deal.
The decision of whether to get a professional home inspection done will depend greatly on the amount of experience an investor has.
I think almost every new investor should get a professional home inspection done. As a new investor you need to learn every detail you can about properties you want to buy and about what repairs to look out for in future properties. As a newbie, I would actually walk through the entire inspection myself with the inspector and pick their brain about everything. Ask about the roof, foundation, electrical, plumbing and anything else the inspector looks at. Your are paying at least a few hundred dollars for this inspection, so get your monies worth and grill that inspector!
A new investor may be shocked at the amount of items a professional inspector will find wrong with a home. The inspector’s job is to find everything that is not perfect on a home and most do a very good job of finding faults in properties. I am a Realtor, and I have had quite a few buyers scared off by the little things inspectors find in properties. I always try to show buyers the serious faults in a home and hope they …read more