One of the best parts of being a homeowner is the freedom to customize your space. From painting the walls to knocking them down, there are endless opportunities to put your own personal stamp on your home and make it yours. But before you dive into any renovations, you should know what they will cost you and how much of those costs you can expect to get back through appreciation when you sell.
Spending months to find the perfect home in your price range, only to have your mortgage application rejected, or a home inspection turn up expensive repairs, is a nightmare—one that is coming true with increasing frequency, according to a new report from real estate listings website Trulia.
Mike Phegley started his business, Napa Valley Home Inspections, in 2008 — right as the recession was taking hold on the economy.
“It was tough breaking in,” Alm admitted. But with persistence, he was able to survive the economic downturn.
Those buying a condo may think that they are in the clear when it comes to needing a home inspection. But that's not necessarily so, according to Stephen Moranis, former president of the Toronto Real Estate Board and a former Director of the Canadian Real Estate Association.
Whether a home inspector has to be licensed or abide by specific regulations to practice varies by state. Some states have no professional requirements for home inspectors.
Buyers can do a preliminary check of a home before putting in a bid, but nothing takes the place of a professional home inspection, according to an article in the Tri-County (Mich.) Times. In the article, staff reporter Vera Hogan wrote that making the home inspection a condition of the sale is a smart move.