Bengaluru: Home inspection - Know worth of properties before acquiring them


Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Jan 8: In India, owning gold is the primary ambition of even the poorest household, but owning a home/apartment is a lifetime dream of most Indians. In the absence of any simple, objective means to measure the quality, people investing in these properties feel that they are taken for a ride by the real estate developers / builders who extract a hefty price but provide at the end a property, construction quality of which is substandard.

Moreover, these dreams are fulfilled normally out of money borrowed from financial institutions/mortgage houses and one of the requirement from these financial institutions is availability of inspection report before the loan amount is approved. What is being followed now is a manual and visual process mainly focussing on things like valuation of the property, adherence to the approved plan, actual dimension and so on instead of verifying the quality the home/apartment; there is definitely a need for home inspection service.

What is Home Inspection? - According to Wikipedia, it is a limited, non-invasive examination of the condition of a home/apartment, often in connection with the sale/renting of that property. Home inspections are usually conducted by a home inspector who has the know-how to perform such inspections. The inspector prepares and delivers to the client a written report of findings. The client then uses the knowledge so gained to make informed decisions about their pending real estate transactions. The home inspector describes the condition of the home/apartment at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components.

In layman terms this basically means a qualified/certified expert aka Home Inspector performs an inspection of your home/apartment (checks the electricals, plumbing, structures and woodwork at a minimum),
using a checklist and a process (so that they do not miss anything), aided by tools (eg: fluke meters, moisture meter, IR cameras to detect faults), supported by software (eg: Mobile app for inspection, pdf reports, scheduling). The Home Inspector delivers a report that reflects the current state of the home/apartment. The Home Inspector always remains neutral and does not propose the next steps or recommend the vendors that should/could perform corrective measures.


There are many benefits of such a process being done on a new or existing home/apartment:

Get objective and comprehensive data to decide next steps
Get a professional opinion about the home/apartment
Find obvious and hidden defects with the home/apartment
Save future repair and maintenance costs
Detect unsafe areas of the home/apartment
Create a quality baseline of the home/apartment
Prevent future inconveniences

In the western world, Home Inspection is assumed to be a worldwide practice but unfortunately, it is not the case. What is a common practice in the rest of the world is not so in India, even though the real estate market is booming in India (growing @CAGR 11.2%), prices of apartments, houses are skyrocketing, and
input (tiles, cement, paint) and labour (painters, masons, carpenters) costs are rising year on year.

Off late, there are players like HomeInspektor (powered by appZui Technologies) who are working in this space and building a marketplace to deliver easy, objective, trusted and comprehensive home inspections leveraging the power of mobile, analytics and cloud technologies together with tools and robust process checklist.

HomeInspektor is based in Bengaluru, and is headed by its CEO Sudhi. It operates as a marketplace used by home buyers, home sellers, home inspectors, realtors, financial institutions and other players associated with the home inspection business. The company aims to enable customers to invest in properties with confidence and peace of mind, by providing unbiased, objective feedback about the quality of the property.


For more information, log on to www.homeinspektor.com or email info@homeinspektor.com.

  

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Comment on this article

  • R.Bhandarkar, Mangaluru

    Wed, Jan 13 2016

    This is all general .
    What use of a 'new' home, if the same old man with 'no change' in him enters?
    Owning a New House is nothing compared to a 'new you' entering even your 'old home'...!
    A 'New You' means a transformed,enlightened 'YOU' who knows the meaning of 'HOME' in the truest sense.
    Knowing does not come in installments mind you...it comes in a sudden gush in case you are ready for it!

    DisAgree [6] Agree [6] Reply Report Abuse

  • Kishoo, Barkur

    Thu, Jan 14 2016

    Wonderful insight Maam.

    DisAgree Agree [1] Reply Report Abuse

  • veera pinto, mangalore

    Wed, Jan 13 2016

    good information but lot of revisions required in property law. eg: the payments should be recorded properly, quality, registration process....

    DisAgree [1] Agree [6] Reply Report Abuse

  • Lydia Lobo, Kadri

    Wed, Jan 13 2016

    In some parts of the world, its routine for a Building owner to appoint a Rear Estate market analyst for his property for sale/lease. The agent studies the locality, approaching distance to nearest facility like hospital, market, school or other public places. Based on this study, a price/rent rate is determined for the property.

    Home inspection is an innovate idea but on whose behalf is it working ? The building owners' or the buyers' ? Can they provide 'As Built' drawing of a flat in a particular building ?

    Obviously, rest of the study can be done by a buyer himself, keeping in mind the physical location of the building. What a buyer is cheated of is the integrate details of the building. He trusts that good quality iron is used to sustain the building, good quality flooring is put to avoid leaking, good quality plaster/putty is applied to prevent rain water seeping in, good quality wiring is incorporated to curb short circuit and so on.

    If there is an agency to fill this void and one can trust that its Home Inspection, I am sure you are a blessing in disguise to a buyer. Good Luck !

    DisAgree [5] Agree [10] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Jan 13 2016

    EYEOPENER ...

    DisAgree [2] Agree [4] Reply Report Abuse


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