What is a home inspection?
A home inspection is an investigation of the house that is performed by a licensed inspector. After the seller accepts an offer on the house, a buyer will have the house inspected before finalizing the sale. A home inspection helps buyers to uncover potential issues related to the house they are about to buy.
Without a home inspection, a buyer could end up with a house that will cost them a lot of money in the future. For example, a house could have structural problems such as cracked walls, electrical, or plumbing problems issues. All these issues can be very expensive. Without an inspection, a buyer could end up with a house that needs all or some of these repairs.
The buyer’s agent will suggest licensed inspectors to the buyer. The chosen inspector will then perform the inspection of the house and report to the buyer. After the inspection, the buyer will go over all findings and decide whether the house is worth their bucks or not. Buyers can also renegotiate the price of the house based on findings from the inspection.
Related: 7 Reasons You Should Get A House Inspection
When do home inspections happen?
The home inspection will be conducted only after the seller accepted the offer. However, it must be done before the sale is finalized. This is because nothing can be done or altered after the deal is sealed. The seller will give a buyer enough time to conduct the inspection.
How much do home inspections cost?
Home inspections can cost a fortune depending on the inspector’s experience, size of the home, locations, etc. In addition, the inspection can cost more money if you have multiple inspections of the house. For example, termite and other pest damage inspections are usually done separately from the general inspection of the house.
Bankrate noted that the average cost for a home inspection is between $300 to $450 for a 2,000 sqft home. However, these prices can increase much higher when the size of the home increases.
What to expect from a home inspection
The home inspection will provide an evaluation of all systems in the house and other problems that could cost the buyer a lot of money in the future such as repairs and updates.
The following is a list of some of the things you should expect from a home inspection, according to Homelight.
- Air conditioning systems
- Plumbing, heating, and electrical systems
- Walls
- Visible insulation
- Floors, windows, doors, ceilings
- Foundations
- Structural problems and basement
- Attic
- Roof
Some inspections could include termite and other pest damages.
