Can Your Clients’ Dreams Actually Become a Reality?
In recent news, home ownership among Millennials has become more and more of a reality.
There are many available online articles and published studies showing an upward trend in Millennials’ desire to purchase homes with “potential”: homes that may require repairs and improvements, opposed to new or newly renovated homes. Although Millennial’s are now the focus of this new trend, the concept is nothing new. Homebuyers have always viewed potential home purchases, not just from what a home is now, but the potential for what it could be. We all have a picture in our minds of what a home could be, and many homebuyers make their purchasing decision based on what they see a home becoming. But, even with custom built homes, tailored to a buyer’s exact specifications, nothing is ideal for ever. As we grow, our likes, wants, and needs change. It is human nature to always strive to improve on the world around us, and the place we call home is no exception.
This is one of the greatest testaments to the need for an accurate and thorough home inspection which includes talking to buyers and understanding their view of a property. They may view seemingly minor repairs as “no big deal” or “worth the investment”, but can it actually be done? If it’s their first home do actually understand the costs and requirements that go into home repairs? Will having a home inspected help them in any way?
Unfortunately, the home inspection industry is filled with inspection companies who offer a minimal inspection of only what is on the surface. Nationally accepted Standards of Practice from certifying organizations do not prevent a Home Inspector or Home Inspection Firm from performing inspections in greater detail. In fact, the Standards of Practice are looked upon as the minimum of what Inspector is to look for and address during a Home Inspection. So why do so many “Home Inspectors” and “Home Inspection Companies” only do the minimum?
The good news is that there are companies like DVO Inspection Services, Inc. who go above and beyond the minimum requirements to address the concerns important to homebuyers. To discuss what issues are identified and the truth about what they mean. Issues like low water pressure may not seem like that big of a deal to the buyer who will be leaving things unchanged, but to the buyer who intends to convert a half bathroom into a full bathroom it can mean a lot more work to accomplish in the future and a lot more costs. Dampness in an unfinished basement may just mean the addition of a dehumidifier to a buyer looking at leaving it unfinished, but what about to the buyer who wants to have the space fully finished with carpet, drywall, and converted into a living space? Will the addition of additional light fixtures and receptacles require that the whole home be rewired due to local codes and permits, or that an entire electrical panel is added or replaced?
These are just some of the reasons why understanding what a buyer sees when they look at a home is so important. Having the Home Inspector involved in this way of thinking is crucial to helping homebuyers understand whether or not a property can become their dream home or much greater expense than they could have ever imagined.