A Possible House Purchase

We have found a house that we like and we’ve placed an offer for; now its time for the making sure everything with the house is sound. After a few weeks of looking for a house we actually found one that we liked and wanted. We placed an offer on the house and after a little bit of negotiation our offer was accepted. Needless to say we want to make sure that everything is ok with the house before the deal is 100% done. The house inspection turned up a few things that will need to be looked at though other than the electrical system there’s nothing major wrong with the house.

Before anyone jumps on this we knew the wiring in the house would need to be replaced before we placed our offer. Other than this as a major expense everything else seems to be mostly in order. A lot of smaller to medium sized jobs over the next few years which will increase the value of the house. The only thing that remains is to make sure that there are no termites (the house is in a region that is known to have them even though the street we bought on is quiet). The whole point for us here is to make sure that we’re not buying a house with more problems than we’re ready to deal with. Some known issues that we’re planning for is one thing but to discover a massive problem such as a termite infestation would not be a pleasant surprise.

The expense of getting a house inspection in my opinion is totally worth it. And unless your uncle Bob is a real house inspector get a professional – they do this for a living and know what to look for. The report we’re getting for our $400 inspection will make sure we fix everything necessary to make the house safe and get a better insurance rate. Not to mention it minimizes the unpleasant surprises.

We’ll know the results of the termite inspection later today and by the end of the day we might have a finalized house deal. This is very exciting for me as its my first house purchase – I’ve learned a great deal about the process so far.

One thought on “A Possible House Purchase”

  1. I was always under the impression that a home inspection was required when obtaining a mortgage. Maybe it varies state by state?

    But you’re right, if for some reason your state doesn’t require it, pony up the money – every single time you buy.

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