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  Buying? Here's why you need a home inspection!  
     
  Indeed, more than 40 percent of the previously owned homes on the market have at least one serious defect, according to HouseMaster, a major home inspection company with offices in more than 390 cities in the United States and Canada.
   "Virtually every 'used' home needs some repair or improvement," said Kathleen Kuhn, CEO and president of HouseMaster. "That's to be expected. But with today's high prices, you want to make sure that you are aware of any major problems in a house you are considering purchasing, and what it will take to remedy the situation."
   Drawing from their own findings from more than one million home inspections, HouseMaster says the most serious home defects to be on the lookout for are:
  1. Cracked heater exchange
  2. Failing air-conditioning compressor
  3. Environmental hazards including radon, water contamination, asbestos, lead paint, and underground storage tanks
  4. Moisture in the basement
  5. Defective roofing and/or flashings
  6. Insect infestation -- termites or carpenter ants
  7. Mixed plumbing
  8. Aluminum wiring
  9. Horizontal foundation cracks
  10. Major house settlement
  11. Undersized electrical system
  12. Chimney settling or separation
   Kuhn says most of these problems can be repaired. However, depending on the specific problem, the cost can be substantial, particularly if the defect involves one of the major systems. The cost could become a factor in whether you ultimately buy the house.
For example, a new air conditioning compressor could cost you up to $1,200. A new roof or repairs can cost at least several thousand dollars. A wet basement could cost up to $5,000 to remedy.
   If you enter negotiations to buy a particular house, your agent should advise you to provide a provision for renegotiating or backing out of the contract if a home inspector finds major problems.
   A home inspection usually costs between $250 and $400. Hire a qualified inspector. Try to get referrals from friends or anyone you know who has had a satisfactory experience with a home inspector. Also, look for affiliations with organizations like the American Society of Home Inspectors or the American Association of Home Inspectors. Both groups require its members to be certified, meet professional qualifications, and adhere to specific business ethics.
  

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  The information provided herein is supplied by several sources and is subject to change without notice. Urban Living  does not guarantee or is in any way responsible for its accuracy, and provides said information without warranties of any kind, either expressed or implied.