How Much Does a Home Inspection Cost?
If you are thinking about buying a home in the near future, it would be in your best interest to schedule a home inspection prior to finalizing any offer on the home. In some states, home inspections are a required part of the home-buying process. Home inspections will alert you to most major problems or potential problems with a home before you make such a large investment in it. Regardless of whether or not this is a requirement in your state, the fact remains that having a home inspection done prior to buying a home will help to give you peace of mind about your investment. This article will walk you through some of the basics of home inspections that you will want to know prior to scheduling your own.
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Cost of Home Inspections
In most cases, a home inspection will run anywhere from $300 to $500. The specific amount will vary depending on the company and the state in which you are scheduling the inspection. In most cases, you may have to pay for your home inspection up front, but it may also be possible to negotiate with the seller to provide a home inspection free of cost for you. Of course, you should be cautious with allowing a home seller to hire his or her own inspector. Generally, it is recommended that the potential buyer pay for and choose the inspector for the job.
While it may be $500 of your own hard-earned money, it's a small price to pay when you think about it in the long term. After all, a home inspection can alert you to issues that could cost you a significant amount of money down the road. By being made aware of these issues ahead of time, you may be able to have the current home owners fix them prior to the sale.
What to Expect
In general, most home inspections take several hours to complete. This can vary, of course, depending on the size of the home and property. It is recommended that homeowners tag along on the day of the inspection rather than simply waiting for the inspection report, if at all possible. This gives the potential buyer the opportunity to see the issues first hand and ask the inspector any relevant questions.
During the inspection, the home inspector will take a look at the overall structure and foundation of the home, any major appliances, the roof, electrical wiring, the home's attic and crawlspaces and plumbing. They will go through a long checklist and make notes of any issues that may need to be addressed prior to selling the home. For less serious problems, the inspector will still mark the issues, so that the future homeowner is aware of them and can decide whether to fix them on their own dime.
Last updated on Mar 31, 2016
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