If you are a first-time homebuyer, you are probably wondering what home inspections are and why they are such an essential part of the homebuying process. Think of them as a way to appraise a house before you buy it. After all, buying a home is a massive investment and you can’t just read reviews to get an idea of the problems that can arise after spending your money on the purchase price.
Although any additional payment may seem like the last thing you want when buying a home, most experts recommend a professional inspection from a reputable home inspection company to get a more satisfactory idea of the home’s condition and any hidden problems. You may not be interested in paying home inspection fees, but remember that they can save you money in the long run. So, if you are still thinking about it, then read the article and you will learn all about home inspection and how much it really costs.
What Is a Home Inspection?
Simply put, a home inspection is an evaluation of a home to determine the current state of its structural integrity, inspecting important parts like the roof, walls, basement, and examining everything like the tanks, heating, and cooling system, and more. Think of a home inspection as a comprehensive exam by a certified home inspector. When buying a home, you want to make sure everything is working properly and identify any weak spots that could become a problem in the future.
A home inspection by a professional home inspector can help you avoid potentially costly pitfalls like structural flaws or hidden damage. Although not required by law, buyers, especially first-time homebuyers, can benefit from a thorough property evaluation by an experienced home inspector before finalizing the purchase. That’s why many buyers include a home inspection in their purchase contract and those who don’t pay the price in the long run.
Do You Really Need a Home Inspection?
A seller desperate to get rid of a house might be motivated to cover up plumbing problems or other issues that may plague him later. Sometimes sellers can overlook hidden flaws in their homes that you may not want to address. Remember that a house does not have a check light or any other indication that shows you that a particular house has this or that specific problem.
Things can be wrong that the owner or buyer is honestly not aware of. So in all scenarios, the home inspection is not a deal-breaker. In fact, a home inspection is a preventative measure that can help you make an informed decision before pitching down your lifetime investment.
How Much Does a Home Inspection Really Cost?
Although the average cost of a single-family home inspection typically ranges from $299 to $499, just keep in mind that the exact price will depend on the size of your home, where you live, and what you want to inspect. For a home inspection done by a professional home inspection service, you can expect to pay between $350 and $550.
However, the national average cost of a home inspection last year ranged from $279 to $395, which is quite affordable when doing a multi-thousand-dollar transaction. Remember that a home inspection report can save you thousands of dollars in repair costs after you buy a home. It’s a good idea to hire a qualified home inspector, even if you’re already paying a lot of fees when buying a home.
Any licensed real estate agent will stress the importance of a home inspection, especially on older homes. While your home may look beautiful to the untrained eye, a professional home inspector can find hidden and hard-to-find problems. With a quality home inspection service, you’ll have the confidence of knowing that the home you’re about to buy is in good condition.
What Does the Home Inspection Include?
A home inspection is necessary for a buyer because he/she needs to know what they are buying. So a home inspection should include at least these inspections:
- Foundation inspection
- Structural inspection of houses.
- roof inspection
- basement inspection
- Additional inspection of structural components
- Inspection of interior plumbing systems
- Interior electrical inspection
- Inspection of heating and cooling systems.
- Inspection of the state of doors, windows, and carpentry.
- Floors, walls, ceilings, and stairs inspection.
- Inspection of the attic and any exposed insulation.
Why Shouldn’t You Ignore a Home Inspection?
Here are some of the most valid reasons why you should not skip a home inspection process:
Inspection Reveals Critical Areas
A professional inspection company can reveal vital information about the condition of a home and its systems. The inspection makes the buyer aware of the costs, repairs, and maintenance that the home may require instantaneously and over time.
Quality Home Inspection Saves Your Money
A quality home inspection can save you from paying tens of thousands of dollars in repair costs. You will always benefit more than the cost of having your home inspected.
A Home Inspection Protects You
A professional home inspector can detect safety matters like radon, carbon monoxide, and mold, which should be tested for in all homes. Make certain that your home purchase contract provides that if such risks are found, you have the decision to rescind the purchase offer.
Inspection May Reveal Unlawful Installations and Building Codes
A home inspection can also reveal if guest bathrooms, modified garages, or basements were completed without proper permits or did not follow building codes.
Home Inspection Says a Lot About Structural Issues
The building inspector will examine the foundation and other structural elements of the house. If the house is not physically sound, the inspection report will detect the issues.
Home Inspection Gives You a Negotiating Edge
Home inspection reports provide the ability to request repairs and/or request a price reduction or seller credit. Work with your real estate agent to understand what requests can and should be made to negotiate a more reasonable deal.