You've found the perfect home and you’re ready to sign the contract and move in as soon as possible. But before you sign on that dotted line, make sure a home inspection is part of the purchase contract. Although you can skip this step, a home inspection is like having a built-in insurance policy against unexpected problems down the road, possibly saving you money—and headaches!
Professional home inspectors not only find things that will need to be repaired immediately, but they can also give you a heads up on what might need to be fixed or replaced further down the line. This added bonus gives you time to prepare for potential future issues.
Home inspections are typically paid for by the buyer. Nationally, the average cost is $315, but that will vary based on location and size of the home. The time needed to inspect the home may also play a role, with older homes costing more than newer ones.
You should plan to accompany your inspector during the inspection process so he or she can show you any problems they find. You can expect to spend a few hours with the inspector doing a thorough walk through. The inspector will check:
- Walls
- Roofs
- Chimneys
- Drainage
- Windows
- Plumbing and wiring
- Heating and cooling systems
- Insulation and ventilation
- Attic and crawl space
If an inspector finds a problem that requires additional expertise, you will be advised to hire a specialized inspector. For example, a home inspector who suspects termites may recommend that you schedule a termite inspection.
If the inspection finds problems, you can ask the seller to address them as part of the contract. You also may be able to renegotiate the price of the home or get cash back from the seller at closing so that you can make the repairs after the home is yours.
Having a house inspection will give you more confidence when you buy a home and adds an extra level of security once you become a homeowner. For more information on home inspections and to find a certified home inspector near you, visit the American Society of Home Inspectors.
