What is a Home Inspection – Plus Prices and Top 5 Tips for Purchasers

Today we are looking at the home inspection and what it comprises. What is it, how much does it cost, how long does it take? and what are some tips that you need to know. I’ve also attached a home inspection checklist in the description below so for those of you looking for a sample home inspection, or a checklist or punch-list of items from a real home inspection be sure to check that out. Let’s start with the basics. Ok so what is a home inspection

What is a Home Inspection

A home inspection is an examination of the condition of the home. The home inspector will take a look at the structure, the exterior, the roofing, the plumbing, the electrical, the heating and air conditioning, and of course the interior. Basically the way to think about it is a home inspection is like a Physical for your house. The doctor aka the inspector will go through and examine every possible aspect about the house to see if it is in good working condition, if there are damages, if there are items that are flat out broken.

All of this will be detailed in a written report that the inspector will give or email to you once the inspection is complete. Then it is your job to work with your real estate agent to figure out which items you want the sellers to repair, and which items you want to leave as-is or that you will fix.

Home Inspection Prices

So that’s a home inspection at a very broad overview. How much does it cost? Well that will of course vary on the size of the home and the inspector. For smaller condos and townhouses, expect to pay between $300 – $500. And for bigger townhouses and detached houses, expect to pay at least $500.

I say at least because for bigger homes, inspections can be $800, $900, or even $1,000. And I’ve worked with buyers that want me to negotiate the home inspector down, or to compare rates…

Think about it this way, there will always be a cheaper option out there. But for an investment like this, quite possibly the biggest investment of your life. And you want to try to save a few hundred dollars, it could end up costing you a few thousand dollars in the long run.

So be sure you are using an inspector that either you have experience with or your real estate agent trusts and you will be mitigating the risk of the inspector missing anything.

Tips for the Home Inspection

OK. Let’s look at the top 5 tips we have for purchasers when it comes to the home inspection.

number 5. Be there! Half the battle is just showing up, right? I think someone famous said that one time. But you should absolutely be there. You have a huge opportunity to learn so much about your house that you do not want to pass this up.

The inspection will take a few hours at least depending on the size, but it is well worth your time.

number 4. Ask questions! Home inspectors have literally been in thousands of houses and know more than you or I will ever know. Be inquisitive, take notes, learn about your house. Once you move in, you won’t want to do a home inspection for fun or anything so be sure you ask questions and learn as much as you can with the inspector.

number 3. Research home inspectors! Your real estate agent will most likely be your best resource, but ask your friends and colleagues if they have any recommendations.

A home inspector can make or break the home of your dreams so be sure you have the utmost confidence in using the one you picked.

number 2. don’t freak out. What I mean by this is it is the home inspector’s job to find something wrong with your house. If it is a 500 square foot condo built last year, the inspector will still find a long list of things that need to be fixed, but the total cost may only be $50. If they don’t find anything wrong, then why did you pay them in the first place? Home inspectors will be overly-detailed.

Some things they list may be completely irrelevant and not necessary to fix at all. Which goes back to Number 4, ask questions so you know what is actually important.

number 1. listen to the home inspector. This is their job they do it every single day. You will do this maybe once or if you’re lucky a few times in your life. You do not know more than the home inspector. So if they say their is major issue or something needs to be fixed or something is not safe, please listen to them and place your trust in the hands of a professional. Ok so there you have it.

That’s it, the home inspection as a very broad overview. If you made it this far, please hit the subscribe button for more helpful real estate videos.

Okay until next time, create a productive day. Take care..

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