Ridgewood is a vibrant Bergen County village, well-loved for its unique homes, upscale restaurants, and shopping. Made up of six elementary school districts, buyers searching in the area can find large Victorian and Colonial homes, as well as more contemporary homes and condos. Ridgewood real estate
has an average list price
of $1.15 million. Combined with decreasing inventory and increasing prices, it may seem challenging for buyers starting their search, which is why professional assistance from a team like ours is essential.
While buyers may be eager to close on a Ridgewood home, they shouldn’t neglect a home inspection for many reasons. Along with providing overall peace of mind, conducting a home inspection can sometimes provide valuable insights.
1. Hidden problems can be revealed
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You should order a home inspection on a Ridgewood home for sale before closing because it can reveal problems that are invisible during a showing or open house. Although it’s easy to fall in love with a beautiful Ridgewood house, get it inspected to ensure the structure and main systems are safe and in proper working order.
Common home inspection issues in New Jersey
can include electrical problems with older properties, damp or wet basements that have water damage or are primed to develop mold, and roofing issues (sagging, leaking, missing tiles). Other common issues in New Jersey homes include leaky plumbing and environmental issues (underground oil tanks and asbestos).
2. Save money on future home repairs
Alongside revealing hidden problems, a home inspection can save a buyer from a financial burden
. Home inspections cost roughly $750, which is a fraction of what it may cost to repair serious problems inherited from a property that didn’t undergo a home inspection. Even with additional specialized tests for factors like radon or wood destroying insects, it’s well worth the investment.
Some of the most expensive repairs a buyer can inherit if an inspection is skipped include structural problems with the walls or foundation, roofing issues, and water damage. Problems with a foundation can cost buyers several thousands of dollars to repair, and the cost to repair water damage typically averages around $2,300.
3. Gain possible repairs in advance
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The home inspection report that you and your Ridgewood real estate agent receives may provide information that gives you strong peace of mind. This is especially useful in areas like Ridgewood and Bergen County. With new listings down
across every property type, months supply of inventory down 21.4%, and median sales prices increasing, buyers with a home inspection can make sure they are securing a solid home for their price premium.
Depending on what the inspection reveals, a buyer can ask for sellers to repair parts of the property or contribute closing costs to make up for the problems identified. Even if the seller is unwilling to negotiate, a buyer can walk away from the property with a full understanding of its issues.
4. Set realistic expectations
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The content of a home inspection report doesn’t have to be a deal breaker for buyers interested in a property. A buyer may decide that minor problems with a certain Ridgewood home for sale don’t outweigh the perks of the village, such as its downtown with over 100 restaurants and outdoor recreation spots like Graydon Pool. Buyers with families may also prioritize the great school system over any small repairs needed.
Getting a home inspection provides buyers the opportunity to know exactly what might need repair so they can choose a home
more wisely. Once the home is purchased, buyers can decide which repairs must be done first and what items can wait six months or a year.
5. Valuable unbiased information
Buyers can count on unbiased information
from a home inspection report. Inspectors work independently from real estate agencies and have no vested interest in making a property look better or worse than it is. This data can calm buyers worried about problems with a home, as inspectors thoroughly inspect every point of the property and they’re trained to find problems that aren’t immediately evident.
Having a thorough understanding of what you’re buying before a purchase is always a good step to take. Home purchases are large investments, which is why it’s best to be as informed as possible before deciding on a property. Sellers looking to list their homes can also benefit from an inspection, as being aware of existing problems can save time in the selling process.
6. You can plan your future
Overall, a home inspection provides buyers with the information and control in planning out their future. Rather than anticipating possible upcoming issues with a home’s foundation or main systems, buyers can fully enjoy living in their home knowing it was inspected by a professional. Whether that means living in a home that’s problem free, or having savings set aside for future repairs, the ultimate decision is something the buyer makes on their own terms.
When you’re ready to buy or sell Ridgewood real estate
, contact The Ann + Melinda Group
to guide you through the entire journey. Feel free to review our blog
to learn more about this picturesque and affluent suburban town.
*Header photo courtesy of the The Ann + Melinda Group