As soon as the seller accepts an offer on the house for sale, the buyer has to arrange a home inspection to get an idea of any repairs that might be needed before moving in. According to the official figures released by the U.S Department of Housing and Urban Development (HUD), an average home inspection of a single-family sized property should cost between $300 and $500. Though if you research online, you may get prices as low as $150 and as high as $600 or even more, because the actual home inspection cost depends upon various factors like location of the house (both the zip-code your property is in & how far will be the home inspector traveling). Also, the size of the property, Age of the house, and whether or not you want any specialized inspections that require Lab Testing or any Special Equipment.
Some home inspection companies charge a per square feet flat rate for inspection, meaning they calculate the cost according to the size of the house. Others also include a component of ‘time’ in it, like if an inspection takes more than 2 hours, there is an attached surcharge payable per hour. Therefore it is highly recommended that you always ask the inspector upfront about the price as it may depend on the trends in your local real estate market. If you see more than a few homes for sale in that particular locality and there are only a limited number of professionals in the neighborhood, it means you may be paying a premium to secure an early appointment as the demand is high.
However, keep in mind that the cost of a home inspection doesn’t necessarily reflect its quality because an outstanding new home inspector might give you a sizeable discount while any experienced and reviewed home inspector will charge a premium for their services. Therefore, when searching for a home inspector, price is not the only thing you should be looking at.
An average home inspection cost is supposed to cover the following necessary details :
· Roof and Exterior
· Grounds, Foundation and Basement
· HVAC (Cooling & Heating) systems
· Plumbing & Electrical Installations
· Fireplace, Attic, Insulation, and Ventilation
· Doors, Windows and Interior
Although the primary checklist of any home inspector would look the same, a good home inspector will demonstrate experience via an in-depth analysis of the local issues. Here, your real estate agent can come in very handy. Just ask your agent to get the best home inspection for you as it is worth investing in. Usually, first-time buyers think their work is done as soon as the seller agrees to their offer. Hence, they take the home inspection part carelessly, but every professional in the real estate scene would rightly tell you otherwise.
Buying a house is not an easy decision to take, so you should also not take this home inspection part lightly and try to be there yourself in person. It may end up saving you thousands of dollars in some cases, which you obviously won’t regret.