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Kelli Blystone
Buying a home is one of life’s biggest milestones, and the home inspection is a critical step in the process. A home inspection is a professional evaluation of a property’s physical condition, conducted by a licensed home inspector. It’s designed to identify potential issues that could affect the safety, functionality, or value of the home.
This comprehensive evaluation of a property’s condition provides peace of mind and can help you make informed decisions before finalizing your purchase. Let’s explore what happens during a home inspection, why it’s important, and what you can expect every step of the way.
Choosing a Home Inspector
Selecting the right home inspector is essential. Look for a certified professional with credentials from organizations like the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI). Check online reviews, ask for references, and ensure your inspector has experience with homes similar to yours.
If you’re working with a realtor, they will likely have trusted inspection services they’ve worked with in the past and can make a recommendation.
How Much Does a Home Inspection Cost?
The cost of a home inspection typically ranges from $300 to $500, depending on the home’s size, age, and location. Additional services like radon or mold testing may cost extra. According to HomeAdvisor, the national average is around $350 for those added costs.
When Does the Home Inspection Take Place?
The home inspection usually happens after your offer is accepted but before closing, during the due diligence period. This timing allows you to negotiate repairs or adjust your offer if significant issues are found.
What to Expect During the Home Inspection
On the day of the inspection, potential buyers should plan to be present on the property during the inspection. Attending the inspection allows you to ask about any areas you might be concerned about, like visible water damage, sagging roof, etc. A typical home inspection should take a few hours to complete, and you should expect to receive the full report within a few days of the inspection. Make a list ahead of time to help you remember which items to ask about. You can use this worksheet to get an idea of what types of things to look out for during the inspection and on walkthroughs with your real estate agent.
What Home Inspections Don’t Cover
A typical home inspection is not exhaustive, but inspecting for some common issues may be included as add-on services, such as radon or mold testing. Sewer scopes, to check the home’s pipes and sewer lines, are typically an additional cost on top of the general home inspection.
Your home inspection likely will not include:
- Checks for termite damage
- Checks for mold or asbestos
- Inspecting inside walls (inspectors won’t cut open drywall or insulation)
- Chimney inspections
- Checking behind electrical panels
Just because these services may not be part of the inspection package does not mean you can’t still ask about them. At the very least, most inspectors should be able to identify if there are any visible issues in these areas and can recommend a professional for you to consult with further.
What’s Included in the Home Inspection Report?
After the inspection, the home inspector provides a detailed report that includes:
- Summary of findings: Highlights major issues and safety concerns.
- Photographs: Visual documentation of problems and areas inspected.
- Recommendations: Suggestions for repairs or further evaluations by specialists.
- Overall assessment: An overview of the home’s condition and any urgent issues.
The report is your roadmap for addressing problems and making an informed decision about moving forward with the purchase.
What Happens After the Inspection?
It’s important to note that homes don’t pass or fail inspections. Instead, the inspection identifies areas needing attention. Once you receive the full report and identify minor and major issues that need to be addressed, you have a few options on how to proceed with the transaction.
If significant issues arise, you can:
- Negotiate repairs: Request that the seller addresses the issues before closing.
- Adjust the offer: Lower your offer to account for the cost of repairs.
- Walk away: In some cases, your best option might be to start over on your search. If the problems are too extensive or costly, you may choose to cancel the deal (within the terms of your purchase agreement).
Your home inspection can be used as a contingency in your contract with the seller. This allows you to back out of your purchase offer, free of penalty, within a certain timeframe if the inspection revealed major defects that would have to be addressed before moving in.
Key Takeaways
While a home inspection will cost you a little extra time and money, you’ll be glad you did it! Inspections can reveal problems that will give you negotiating power with the current owners, rather than an unpleasant surprise you’re left to deal with once you have the keys to your new home.
For first-time homebuyers, the inspection can also be your introduction to many aspects of home maintenance you weren’t aware of before now. A few hundred dollars now can save you tens of thousands of dollars down the road—a worthwhile investment indeed!
