According to a survey by Porch, 86% of buyers who had a home inspected said at least one problem was identified. Home inspections are not a luxury or something for first-time buyers only. They’re a vital part of the home buying process.
If you’re looking to move home and are tallying up costs, this article can help. Read on to find out the average home inspection cost.
Yes, You Need a Home Inspection
As we’ve touched on already, home inspections are beneficial. They may not be required by law, but that doesn’t mean you should ignore getting a home inspection.
The benefits of home inspections are numerous. They help you swerve potentially expensive surprises such as latent damage or structural defects. For example, plumbing issues, water intrusions, a leaky roof, or malfunctioning electrics.
A professional home inspector will have a checklist for up to 1,600 features and can take up to three hours.
Home inspections are for your own protection and provide authoritative proof of issues. Based on the findings of the inspection, you may insist that the seller fixes a problem or be able to renegotiate the price.
You may even decide to walk away if the disrepair is too substantial.
Average Home Inspection Cost
Now for the nitty-gritty. The US Department of Housing and Urban Development (HUD) estimates that home inspection prices range between $300 and $500.
But, costs can vary greatly depending on the region. And also on the age and size of the property.
For example, expect to pay at least $400 for a home inspection on a 2,000-square-foot property. But even that can vary depending on the particular firm you use, its reputation, how far the inspector has to travel, and their level of experience.
If you’re purchasing a larger home, you can expect to pay more than the typical range. Or if you need additional services such as termite or mold examinations.
One of the ways to discern whether you’re getting a fair price is to see what other inspectors in your area are charging for similar homes.
There are plenty of tips for buying to mull over during the home buying process. Investing in a home inspection shouldn’t fall by the wayside.
Buying a property is a huge outlay, so if you think about it, a home inspection is a drop in the ocean cost-wise.
Home Inspection Cost: The Lowdown
How much is a home inspection? On average, prices range from $300 to $500. But a home inspection cost will vary depending on various factors. These include the age of the property you’re buying, its size, and the reputability of the firm you choose.
There are many benefits of home inspections. The primary one? It will cost you several hundred dollars but may save you thousands if serious issues are discovered during the inspection.
If you found this article handy, take a look at our real estate section for more useful posts.
