You found the home of your dreams and are ready to seal the deal. Hold the phone! Even if it seems like this house is in mint condition, there may be trouble lurking. Termite damage can cost you thousands of dollars and a whole lot of stress before you’re even unpacked. Here are three reasons why your termite inspection matters.
It Can Save You Money
Buying a house is a huge investment. You definitely don’t want to tack on any added expenses. Even though you may have a minor expense in the termite inspection, it has the potential to save a lot of money in the long run.
Termites are responsible for more than $5 billion in property damage each year, most of which is not covered by homeowner’s insurance. A homeowner whose house is affected by termites will spend an average of $3,000 to repair the termite-inflicted damage. In contrast, a termite inspection is a fraction of the cost and can help you make a sound decision moving forward.
Termites affect about 600,000 homes each year. Without a termite inspection, you are walking blindly into a potential money pit, filled with nasty creepy-crawlies. A failed termite inspection doesn’t mean the home is unlivable, but it does mean there’s damaged home or property that you shouldn’t have to rectify.
A termite inspection doesn’t have to be condemning. If the termite damage is minor, your real estate agent can help you negotiate a fair plan of action with the selling party. If you decide you do not want to move forward with the purchase, you’ll have saved yourself from the emotional, financial, and time strain caused by a termite-infested home.
It Can Affect Your Mortgage
If you intend on taking out a mortgage for your new home, it’s very likely you’ll need to have an inspection done before the bank will approve your loan. A bank or credit union won’t approve your loan until the home has passed a termite inspection (along with a number of other inspections that are required during a real estate transaction).
It Can Aid in Prevention
A failed termite inspection doesn’t necessarily mean you can’t move forward with the home buying process. Oftentimes simple actions can rectify the situation and rid your new home of any termites. If your home passes, the inspector can still provide helpful insight into potential trouble areas in the home. Either way, you can move forward with peace of mind and termite-prevention knowledge.
Buying a home is a lot of work, but your termite inspection doesn’t have to be! Partner with the experts at Springer Professional Home Services and have your potential home inspected for termites. Regardless of the outcome, you can move forward knowing you‘re making a well-informed decision. Schedule an appointment today!