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Why You Should Always Get a Home History Report before Buying

When you buy something for your home, like a TV, you can read online reviews and consumer reports to help you make your purchase. Even when you buy a used car, you can request a vehicle history report.

But what are your options when buying a home? The stakes are much higher, since a home is likely to be the biggest purchase of your life. When unexpected problems pop up after you buy, it can cost you thousands of dollars and diminish the overall value of your home.

Thankfully, you can take steps to lower the risks of buying a home. One option is to request a home history report.

House and Key

A home history report helps you make informed buying decisions

Nobody likes surprises, especially during the home buying process. Even before you close on a home, a home history report can help you make important decisions regarding offers, down payments, and closing costs.

What should be included in a home history report?

What exactly does a home history report look like? Well, it should paint a broad picture of the home you’re looking at, including:

  • Past insurance claims
  • Building permits
  • Loan history
  • Property incidents, such as fires and floods
  • Environmental hazards

Where to find a home history report

Short of hunting down building permits and newspaper clippings yourself, you can get a complete home history report from Housefax. The best resource for insurance information is a C.L.U.E. Report, which provides you with a 5 year history of all insurance claims related to that property.

A seller may already offer a home history report, but you should not feel bad about asking for one up front. Remember: you’re making a big investment, and you deserve the best information available.

For more helpful advice on homeownership, read our recent blog post on how to decide between buying and renting.

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