Increase the Likelihood That Your Property Will Sell With a Thorough Home Inspection
Currently, there are approximately 136.57 million housing units located throughout the country. While home owners occupy 75.6 million of these units, the remainder are occupied by renters. Recent data indicates that the home-ownership rate within the United States is at 64.2%. Even though there has been a steady decline in home ownership since 2005, the U.S. Census Bureau reported that 612,000 new homes were built and sold during 2017.
When houses are going on the market, they need to undergo home inspections. On average, this process will take two to three hours for a home inspector to complete. This is because there are at least 500 data points that need to be inspected. In addition to checking for the presence of lead-based paint, mold, and termites, a home inspector will also want to determine whether or not the roof is in good repair. Due to the information that is obtained from these inspections, approximately 33% of real estate deals will not be completed.
Older homes, in particular, may have a variety of issues that need to be addressed prior to selling. In addition to plumbing and electrical problems, they may also contain lead-based paint. Before 1940, for example, house paint contained concentrations of lead that ranged between ten percent to 50%. Due to the health issues associated with lead-based paint, the United States banned using it to paint houses in 1978.
There are also health issues associated with mold. The Environmental Protection Agency reported that being in close proximity to all types of mold may potentially lead to health issues. While death can occur in rare instances, other effects may be minor to severe. The Mayo Clinic, for instance, reported that 93% of chronic sinus infections are caused by mold.
Whether you’re planning to sell or purchase a house or housing unit, it’s important to have an experienced home inspector conduct a thorough assessment. As previously mentioned, older homes may have issues that newer models don’t have. In the event that you need mold or lead paint removal, a roof repair or replacement, or another issue taken care of, experienced contractors and roofing repair services will be able to assist you. Once the house passes inspection, then there is a greater chance that your real estate deal with be finalized.