Twenty and Thirty-Somethings' Latest Accessory is Their Home
ASHI Reminds Young Homebuyers to Make Smart Decisions When Buying a House or Condo
Chicago, Ill. (July 26, 2007) – For young professionals in their 20s and 30s buying a house or condo is in vogue. In fact, a visit to a local watering hole during happy hour will confirm what the 2006 U.S. Census Bureau data revealed – twenty-somethings are buying homes at record levels (42 percent of people ages 25-29 are homeowners). As the age of a typical homeowner declines, the American Society of Home Inspectors (ASHI) reminds homebuyers about the importance of having a professional home inspection prior to purchasing a house or condo.
“Buying a home may be fashionable, but it’s not something you pick-up off the rack at Nordstrom’s, said Frank Lesh, 2007 ASHI President. “One of the top five mistakes homebuyers make is to forgo a home inspection prior to the purchase of their house or condo.” In fact, according to Lesh, one in four homebuyers (25 percent) do not have their house or condo inspected prior to purchase.
Recent House and Condo Sale Statistics
Below are a few of the latest statistics for house and condo sales as well as a breakdown of the number of homes sold in the U.S. without a home inspection in 2006:
- In 2006, 1,619,500 homes were sold in the U.S. without a home inspection, according to the American Society of Home Inspectors
- Throughout the last 10 years, condo sales have doubled from 6 percent to 13 percent, according to the 2006 U.S. Census Bureau data
- People in their 20s and 30s account for more than 50 percent of newly built home purchases, according to the American Housing Survey conducted by the U.S. Commerce Department
ASHI’s Top Five Words for the Wise
According to Lesh, savvy consumers of any age should arm themselves with the facts about the importance of having a pre-purchase, pre-listing or general maintenance home inspection. Below are ASHI’s top five tips for identifying a qualified home inspector:
- Locate an ASHI Certified Inspector by using ASHI’s “Find an Inspector” tool at www.ASHI.org. Consumers can locate an ASHI Certified Inspector by specialty, language spoken or ancillary services provided.
- Confirm that the inspector is an experienced residential inspector and check his or her references. Whether you’re purchasing a house or condo, there is no substitute for experience.
- Identify how long he or she has been a home inspector and how many inspections he or she has completed. ASHI Certified Inspectors are required to have completed at least 250 paid professional home inspections and pass two written exams that test the inspector’s knowledge of a home’s major systems.
- Determine what the inspection and inspection report will cover. Make sure the inspection complies with the ASHI Standards of Practice (the industry standard) available online at www.ASHI.org.
- Attend the inspection. Home inspectors should encourage homeowners/potential homeowners or interested parties to attend the inspection. It’s a valuable opportunity for the homeowner or potential homeowner to learn more about the property at hand.
“Purchasing a house or condo is one of the greatest investments a person can make,” added Lesh. “Keeping these tips top-of-mind will ensure that homebuyers, especially those in their 20s or 30s, select the right man or woman for the job.”
About the American Society of Home Inspectors
In its 31st year and with nearly 7,000 members, ASHI is the oldest and most widely recognized non-profit, professional organization of home inspectors in North America. Its Standards of Practice and Code of Ethics are the industry standard. ASHI’s mission is to meet the needs of its membership and promote excellence and exemplary practice within the profession. For more information, visit www.ASHI.org or call 800-743-2744.