When you buy a home, all dollars are important, but some costs are worth every penny. A home inspection usually costs between $300 and $500, which may just feel like a different box, but revealing hidden issues can save you thousands of dollars in the long run.
A home inspector will help you identify whether your future home is actually safe and repairs that need to be made, and whether your home is yours before closing or if it belongs to you. Conclusion? Home inspections are part of the home buying process that you don’t want to skip.
How much does it cost to inspect a house?
According to the National Association of Realtors (NAR), standard home inspections on average are between $300 and $500, but prices can be higher or lower based on the size, age and location of the home. An inspection of a home in New York, New York can look very different to an inspection of a condo in Miami.
Larger facilities and homes with special features such as pools, fireplaces and separate garages often cost a higher price. In addition to how far the inspector needs to travel, how much experience the inspector has, and whether it is the peak home buying season, it can also affect costs.
How much is the inspection for a special home?
Many buyers choose to add professional testing. Alternatively, the home inspector may recommend additional testing based on the age and location of the home. At the low end, some specialist services are as low as $70. At the high end, more complicated tests can add nearly $3,000 to your home inspection bill. Common add-ons are:
Radon Test and Other Environmental Hazards Hidden Moisture Issues and Mold Pests and Termites Presence and Damage Sewer, Septic Tanks, and/or Piping Assessment
Ultimately, a home inspection and necessary add-ons will provide a clearer picture of what you purchased, saving buyers from future costly surprises.
What happens during the home inspection?
A home inspection is a comprehensive inspection of the condition of your home. Over the course of a few hours, licensed inspectors are examining key systems and structural elements such as roofs, plumbing, electricity, HVAC and foundation, looking for safety concerns, wear and other potential repairs.
When a home has a contract, the home inspection costs usually come to the buyer. Everything you see in the report can change. The cost of repairs may not be worth the time or trouble and may give buyers a clear way out of the contract.
Sellers may also offer to fix some issues to help sales move forward, but this is not enough to alleviate buyer concerns or satisfy mortgage lenders. Not all the fixes found during home inspections are mandatory, but the final report is often a key moment during home sales.
Can I skip the home inspection?
Abandoning home inspections can speed up offers and increase competitiveness in tough markets, but it also means giving up a key layer of buyer protection.
Without a home inspection, buyers are left to reveal hidden issues themselves, which could lead to unexpected repair costs, safety concerns, or buyers’ regrets after closing.
In most cases, whether you buy a home that requires a TLC or a brand new build, the small cost of an inspection of your home is the best option. Additionally, some lenders will need to complete potential safety issues before closing, especially if they are using older homes or government-supported loans, resulting in potential safety issues.
Find the right home inspector
Choosing the right home inspector is just as important as the inspection itself, as the cost of the home inspection covers the time, expertise and delivery of the inspection report from the home inspector. A thorough and experienced inspector can reveal issues that others may miss, and ensure that buyers understand exactly what is in the final report.
Start by looking for licensed and certified inspectors through reputable organizations such as the American Society of Home Inspectors (ASHI) and Internachi. Realtors can also be a great resource for finding a home inspector in the recommended area.
When choosing a home inspector, ask if they specialize in the type of home you are being inspected and if their reports are included.
As a final step, if you can walk through the property with the inspector, they can explain their findings on the spot.
Home inspections can also help sellers
While inspecting the home is usually the buyer’s responsibility, it can also be a wise move for the seller. A pre-listing inspection will help sellers provide a clearer picture of the state of their home before they hit the market, helping them avoid last-minute surprises that could delay or derail sales.
By identifying potential issues in advance, sellers have the opportunity to either make repairs on their own timeline or price the home accordingly. It also shows transparency to buyers, helping to build trust and negotiate a smoother process. In a competitive market, pre-inspection reports can even help your listings stand out.
What happens after a home inspection?
Once the inspection is finished and the report is delivered, it’s time to look into it in detail, ideally with a real estate agent. Long reports are normal and usually include a combination of minor maintenance notes and potentially more serious issues. Focus on structural issues, safety concerns, or repairs that may affect your ability to live or raise funds in your home.
Work with your real estate agent to decide on your next step. That could mean requesting repairs, negotiating credits for closing costs, or walking with serious money if the issue is comfortable.
Buying a home is a big investment, and the low cost of inspecting a home is one of the best ways to protect it. Whether you’re making sure your report is in the shape of the house or revealing some surprises, you’ll be happy to take the time to dig a little deeper.
FAQ
Is home inspection worth the money?
Yes – Home inspections are almost always worth the cost. For hundreds of dollars, it can reveal issues that could cost thousands of repairs later. Even if the report comes back clean, it is a small investment that will help buyers make more informed decisions.
Who pays for a home inspection?
Usually, the buyer pays for the home inspection. It is considered part of the buyer’s due diligence and is usually scheduled immediately after the offer is accepted. Costs are paid from the pocket at the time of inspection and are not included in the closing costs.
Is the home inspection the same as the rating?
no. A home valuation determines the market value of the home and is required by the lender, but the home inspection determines the physical condition of the home as a protection for the buyer.
