The cost figure is based on the size, location and services rendered to a home. An average home inspection usually costs between $300 and $450.
During the home transaction process, home inspection plays a vital role. Ether it leads to the final deal or no deal. A little significant problem in the house like mild or crack in the foundation, the entire deal could collapse.
So, the buyer and seller must know the ins and outs of a home inspection.
How to Determine the Cost?
As mentioned above, home inspection’s cost depends on the size and location of the property. larger the square footage size of the home, the larger the home inspection cost.
Many home inspectors charge a uniform price to inspect a home, based on size. For example, for a 3,000 square-foot or smaller home, they charge $400 and if the home is greater than 3,000 square-foot than they will charge $450. It’s like every addition of 500 square foot they will add $50.
While in case of location, the price of home inspection in a rural location is low. Because the demand for houses in such area is low so as the demand of home inspector.
There are following factors that are associated with home inspection cost.
The Age of Home: Normally, the older the home the longer it takes to complete a home inspection. Antiquated components necessitate a long and expensive home inspection.
The Local Real Estate Market: Another important factor to determine the cost of a home inspection is the relative health of the area’s ‘’home for sale’’ market. The markets like heavily in demand will have a higher price per inspections, as home inspectors are in greater demand.
Who does the Inspection?
Unfortunately, home inspectors aren’t regulated by federal or state governments. It’s one rule of thumb like, if the fees are low than the more corners a lax home inspector may cut and if the fees are high than the more reputable the home inspector will be. So, always ask around among friends, family and neighbour for the best home inspector at a reasonable price. And they can guide you for a trusted home inspection specialist.
Normally, home inspections take two to four hours for the inspection but again it depends on the size, complexity and age of the house. A seasoned inspector may take longer than a fly-by-night operator, as well.
Keep that in mind that if the home inspector takes some time to go over the house, that’s okay. Because this extra time and attention may well translate to big savings down the road.
What Factors are Involved with a Home Inspection?
it’s an unbiased inspection of a home. It is based on the structure of the home which includes home’s foundation, structural standing and roof. If we further breakdown, it focuses on the following area:
- The central air conditioning system.
- Plumbing and electrical system.
- Home’s roof, attic and basement.
- Walls, ceilings and floors.
- Windows, doors and foundation.
After the home inspection, the homeowner could better understand the condition of the home. And if it requires any repairs and replacements, then it should get repaired to make the sale.
The home buyer should also inspect to get the specific information needed to continue the purchasing. And if he or she finds out some serious problem than the buyer can pull the plug during the transaction of the home buying process. Or they can mutually agree with lowering the price of the offer to financially covering the repairs by the buyer.
Some Extra Home Costs:
Well most of the home inspector charge a general price for the home inspection but if these extra costs pop up then don’t get surprised:
- Radon Testing:
Radon testing has become a regular test for a home inspector. To save your yourself from the lung cancer this test is compulsory. So, you should keep in mind to pay an extra $200 for proper radon testing.
- Asbestos Testing:
This testing is normally conducted on older homes like homes built before 1985. For a small home. This testing cost between $300 and $700 for a small home. But if the asbestos levels are found to be in the positive range then get yourself ready to pay $35,000 to remove asbestos, depending on the size of the job.
- Mould Testing:
This is a serious issue in any home and legitimate health hazard, especially to those residents who have breathing and allergy problems. The test cost $900 and if you want to remove the mould than it will cost you $3000 to $3500 range
- Lead Testing:
The lead issue arises in paint and pipes of the home. Its main concern is that its rotting or chipping away and falling off into the house’s drinking water. And this may cause serious health issues. So, you must take the lead test especially when you are buying an old house. it may cost you $200 to $300 and if you want to remove it then it will cost you up to $2500.
- Sewer Test:
Sewer test is done separately from the primary home inspection. And it comes with the extra price ranging from $75 to $ 300 depending upon the complexity of the work. Inspectors conduct a ‘’Sewer scope’’ to check the sewer lines that how much there are contaminated by tree roots or cesspool leaks. And if they find a serious problem than it might need to be replaced with the new sewer line and it will cost you extra thousands of dollars.
- Miscellaneous Costs:
Some unanticipated costs in the form of new furnace or heating and air condition unit are $8000 to $14,000, for a new replacement. Finishing or renovating a basement costs you $4000 to $25,000, depending upon the size and scope. And upgrading the electrical system will cost you $4000 to $9000.
So, before making any decision, you should check the fee structure of a home inspector. As you can see that lots of spending are there and ready to eat your bank balance. So, you must be very careful. Do the research work first before making any decision. Your decision can give you profit as well as loss.
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