Home inspections are an important part of the buying process. They allow a buyer to vet a property before signing on the dotted line and can save a lot of money in the long run by identifying issues such as radon and termite problems.
The average cost of a home inspection depends on the size and location of the property. In general, larger homes take more time to inspect than smaller ones. Additionally, older homes may have more underlying issues that require extra time to investigate and address. These factors drive up the average cost of a home inspection.
Most inspectors charge by the hour, and it takes a skilled inspector with good equipment to perform an accurate inspection. Inspectors typically spend between four and six hours at a typical home. That means an average home inspection cost between $300 and $500.
Some inspectors offer a flat rate for their services, which means that no matter the size or complexity of the home, they’ll charge the same amount. This is generally a good idea for clients because it gives them peace of mind that they won’t be hit with any hidden costs after the inspection is over.
Many real estate agents prefer to use inspectors that offer a flat rate. This is because it allows them to save time when preparing for client meetings and ensuring that all parties understand what’s included in the inspection.
Regardless of whether an inspector charges by the hour or offers a flat rate, it’s crucial to ensure that they are licensed and insured. A reputable home inspector will have a license number displayed on their website and will carry general liability insurance. Additionally, a good inspector will be certified by an organization such as InterNACHI.
When a prospective homebuyer finds a house they love, it’s not uncommon for them to ask the seller to pay for the home inspection or at least cover some of the cost. However, the reality is that if a house has serious problems, the sellers may not want to fix them or they simply won’t have the funds to do so. In these cases, the home inspector’s report can help the buyers negotiate a lower purchase price or even walk away from the deal entirely.
If a home inspector finds major issues that could cost the buyers tens of thousands of dollars in repair bills, they can also request that the seller make repairs or reduce their asking price to reflect the condition of the property. In this case, the home inspector will provide a list of the issues that need to be addressed and the estimated cost of those repairs.