Tampa house

3 Key Things to Know Before Buying a House

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Buying a home is a huge deal. It is one of the biggest decisions that you will make in your lifetime. The problem is that there’s so much information to understand about the home-buying process that things can quickly become overwhelming. That is why having a crash course before starting your search is so important. If you don’t know what the FHA is, what 203k loans are, or what home inspectors do, then you came to the right place.

FHA Guidelines

To begin, the FHA stands for the Federal Housing Administration. It is a United States government agency. A fun fact about it is that is was founded by President Franklin Delano Roosevelt and was created in part by the National Housing Act.

So what exactly does the FHA do? They set standards for construction, for one thing. They also insure loans made by banks or private lenders for home construction. FHA guidelines are put into place to help make the process as easy as pie. The FHA guidelines were carefully thought-out by nationally certified master inspectors all over the country.

Home Inspections

When buying a home, you should always have a proper home inspection performed. Around 90% of U.S. homeowners surveyed believe a home inspection is a necessity, with 64% of homeowners saying they saved a lot of money as a result of their home inspection in the long run. Who doesn’t love to save money? These home inspections can catch any issues in the home before you sign that dotted line and those issues become your financial responsibility. In addition, they’ll keep you from purchasing a home with hidden issues that you can’t realistically afford to fix.

Loans

Having a loan of some kind is often required to buy a home. Not many people have $200,000 at their immedioate disposal. While there are many different types of home loans, a 203k loan is a great option to look into. This loan is backed by the federal government and is specifically geared towards buyers who want to fix up older or damaged homes to restore these properties. This can be a great way to get a relatively customized home at a lower price and with more preferable financing. That said, you should always compare interest rates and read the fine print when applying and agreeing to any loan amount.

In closing, buying a house is a huge decision that is going to take some time and research. Don’t rush into it and overlook things. Every step of the way is there for a reason. Of course, this process can be incredibly exciting and fulfilling — especially if you have the right tools at your disposal.

wind

Avoid Damage to Your Home with a Wind Mitigation Inspection

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Storms can cause severe damage to houses. Mother Nature can be powerful, especially when it comes to winds that can fluctuate from free and breezy to completely catastrophic. No one can stop strong winds from occurring, but you can make sure that your home is inspected and ensure you aren’t at risk for serious wind damage. Nearly 70% of homeowners that have been surveyed stated that home inspections aided them regarding potential problems.

 

Is Your Home a Wind Vulnerability Risk?

 

You may be wondering how a home inspection can help when it comes to being a wind vulnerability risk. Many homes are damaged every year because of storms. You can easily minimize potential damage to your home by investing in home inspection services. Inspection services offered by a credible home inspector can point out issues that would otherwise leave your home vulnerable to damage from high winds.

 

How Is a Wind Mitigation Survey Beneficial?

 

Does reducing the cost of your homeowner’s insurance sound attractive? That is one of the top benefits of scheduling a survey to check for wind vulnerability risks for your home. Your savings could amount to up to 40% of your premium. When you check for any wind vulnerability, you will also learn how you can implement wind resistance features. Once you have those features in place, your insurance company may offer even greater discounts. A reduced insurance premium makes for a much happier homeowner. Utilize the best features for your property and home to save the most money. You will also be protecting your home which will also save you a lot of money concerning damage costs you would otherwise have to pay for out of pocket if insurance coverage is exceeded.

 

Is Your Home Vulnerable to Excessive Winds?

 

An integral part of learning about any wind vulnerability risk is finding and fixing weaknesses in your home. Essentially, this means homeowners can prepare for future hazardous storms more effectively. You want to have every part of your protected if possible. Protection against windstorms can include reinforcing the doors of your home, as well as adjusting tiles that are loose. You want your home to be able to stand strong against hazardous wind storms and learning everything you can about even the slightest wind vulnerability risk is valuable.

 

What Parts of a Home Need to Be Inspected?

 

One of the main parts of a home that needs to be inspected as a wind vulnerability risk is the roof. Does your roof have any wind resistant characteristics? Some characteristics include structural aspects such as the use of double or single roof straps, the type of roof covering used, gable end bracing and whether you have concrete block construction.

 

Wind Mitigation Inspections Can Protect the Entire Neighborhood

 

A great aspect of wind mitigation inspections is that they can protect adjacent properties. When the entire neighborhood has inspections performed, everyone stays better protected. There will be less debris blowing around that could potentially cause damage to a neighbor’s home, too. It literally pays for everyone to keep their home protected and to be prepared for storms with high winds.

 

Inspections Make It Easier to Recover from Damage Quickly

 

When a home stays protected, damage chances are reduced during heavy storms. That means your home, and possibly even your neighborhood, will be able to recover much quicker. If all you have to do is clean up a few leaves, twigs, and debris, you have adequately protected your home from dangerous winds.

contractor

5 Reasons a Building Inspector is a Good Investment

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A building inspector should be a part of your home buying process. Over 90% of the people surveyed that used a building inspector said it was one of the best decisions they ever made. Unlike an appraiser that works for the bank, the building inspector works for you.

They do an in-depth inspection of the property that you plan on purchasing. Over 500 points of data are collected during the average inspection. Every system is checked from the roof to the basement. A certified home inspection service is one of the best ways to protect your investment.

A Building Inspector Sees What You Can Not

The cosmetics of a property can hide some scary stuff underneath. A home inspection or a commercial property inspection can reveal things that most buyers are not looking for, like structural craftily disguised structural damage.

A highly qualified inspector is part detective, part engineer, part plumber, part electrician, and part code, expert. They have the skill set to quickly find the threats in a home and in a commercial property that could jeopardize your investment.

5 Reasons This is a Must-Have Before You Close

There are 5 compelling reasons you should have a home inspection or commercial building inspection before you close:

  • Ensure the property is safe for occupants. A home inspection can uncover safety issues like mold growth, or wiring that is not up to code. Unfortunately, not every seller will disclose safety concerns but a building inspector can dig around and make sure none of them exist.
  • Discover any potential illegal modifications made to the home or commercial property. Work that has not been done up to code can prevent you from getting building permits, and making necessary repairs.
  • You will have the opportunity to back out of the deal. Making your closing contingent upon the home inspection can give you a safety net in case the property needs more repairs that you want to make.
  • You will know exactly what you are buying. Part of your home inspection will look at major installations like your HVAC system and roof, so you will know exactly what you are getting into.
  • You can use the home inspection as a negotiation tool.

Protecting your investment starts with getting a full picture of exactly what you are getting into. This can be very valuable information that protects you now and in the future. Going into the deal with your eyes wide open will help you to make an informed decision.

Contact the nationally certified master inspector that you need on your side today.

homeinspection

How Does a Home Inspection Help a Home Buyer?

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Purchasing a home is an exciting milestone and also an investment in your future. Professional home inspectors have the experience to perform detailed inspections and provide you with a quality assessment of your potential home. This allows you to make an informed decision and invest in your future properly.

Saves You Money

A professional home inspection can save those looking into purchasing a home money. This is because when a home inspector examines the property, they are made aware of any potential hazards, code violations, or poor structural design elements. These issues that have arisen are relayed to the person who is selling the home. This helps to save the buyer from spending their money on these expenses. Although the home may look perfect to the average buyer, professional home inspections can uncover issues that prevent you from unwanted surprises down the road.

You May Be Able to Negotiate The Price

A home inspector may uncover major defects and safety concerns when examining the property. You will be provided with a report when the assessment is complete and suggestions on how to fix the property by a nationally certified master inspector. Although they can offer suggestions to the seller of the home on how to fix them, this does not necessarily mean they will. Since you have been made aware of these issues, you will be able to negotiate a lower price for the home.

Helps You Make a Plan For Any Potential Issues

Although you may be thinking that a home inspection is just for finding current issues, that is not their only purpose. Home inspections generally take around two to four hours to complete. Home inspections can also uncover things that may come up as an issue in the future. Your professional home inspector will provide you with a detailed assessment of your home and offer you solutions to avoid costly repairs down the road.

Helps You Feel Confident in Your Purchase

Having a professional home inspection can help you feel confident in the purchase of your home. Home inspection services allow you to purchase your home knowing the ins and outs, as well as possible solutions to issues your home is facing or may face in the future. These inspections are very valuable to homebuyers and help to eliminate buyer’s remorse. A house is a milestone, as well as a place that will hold lifelong memories, so it is important to take every measure possible to ensure it is safe.

commercial real estate inspector

How a Commercial Real Estate Inspector Helps You Avoid Potential Problems

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Protecting your interests in any commercial real estate transaction is essential. If you have not enlisted the services of a commercial real estate inspector to inspect the property you’re purchasing, you may not be doing your due diligence.

That’s because a seasoned commercial real estate inspector knows exactly where to look for those hidden problems that can crop up shortly after closing. This added layer of protection can help you avoid a lot of frustration and added expense.

Why Do You Need a Commercial Building Inspection?

A lot of commercial property buyers think it’s unnecessary to have a commercial building inspector come and inspect the property. After all, if the bank approved the mortgage, doesn’t that mean the building is in good shape? Unfortunately, this assumption can prove to be a critical error.

Keep in mind that appraisers and inspectors have completely separate responsibilities. While an appraiser assesses the value of a property, an inspector aims to identify problems. Ultimately, that means an appraisal is not a viable substitution for an inspection.

You may be getting a great deal on a commercial property with a nice chunk of equity already built in. But if the building has pre-existing, hidden problems that are costly to fix, the deal might not be as great as you thought.

Roofing, HVAC, plumbing, and structural concerns may abound — and you might not realize the extent of these issues until it’s too late. Discovering these issues before you make it to the closing table can eliminate major headaches and unnecessary expenditures. Around 70% of property owners responded that a property inspector helped them to avoid costly problems. In other words, you can’t afford to skip this step.

Making Informed Decisions

To make informed decisions, you have to have a full picture of what is going on with the building. Perhaps the commercial real estate inspector will find some problems that you decide are not large enough to stop the deal — or maybe the commercial real estate inspector will find bigger problems that may be too substantial to justify your purchase.

In either case, you’ll want as much information as possible about the property before it officially becomes yours. Of course, it doesn’t hurt to have the upper hand at the closing table. If you obtain a commercial property inspection before you close, it may be one of the best investments you ever make.