Home inspections are a waste of money?
Does this seem like a bold statement that can get me into trouble? It probably is. Since I am an agent who sees about 10 investment properties a week, my opinion might be different from people who are buying 1 house to live in, and are only doing it every 10 years.
Summary of What Inspectors Do on a 3 Family in Worcester
Do:
Outside
Look at the roof and determine approximate age
Check the chimney
Look at siding (paint), soffits, fascia, window frames, to see if it has any issues
Look at the decks and foundation to see if there are any issues
Check the gutters and downspouts to see if they drain appropriately
Basement
Check the foundation
Check the main beam, sills, and floor joists
Check the heating systems to determine age and if they are working
Check the water heaters for age and if they are working
Open the electrical panel to check if there are any double-tapped breakers, or if there is rust
Units
Check for leaks under the sinks
Check to see if the toilets are secure
Check all the outlets to see if they are wired correctly, and if there are enough
Check all the windows to see if they open/close and have the appropriate hardware/locks
Check the thermostat to see if it turns on the heat
Check the appliances to see if they function
Look at flooring to see if there are any hazards
What They Don't Do:
Tell you how much it costs to fix things
When we look above, it looks like there are a lot of things they are doing, and it will take a long time. That is why you are paying them $500-700 for a 3 family.
As a multifamily agent, I am checking 90% of these things instinctively while I preview the property. Think about it, if the roof looks old, it is probably old; if the siding looks bad, it probably is; if the windows are original from 1920, you need to replace them. If the heating system is rusted, it is on its way out. If you see fuses or a rusted electrical panel, you have issues there.
The biggest issue in these buildings in Worcester is the electrical. I can't tell you how many times I have been to a home inspection where the inspector missed the knob and tube wiring, and I had to point it out to them.
Why not take your $500-700 and fix things as they come up on your renovations? The choice is yours.
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