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.
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.
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.
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.
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.
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:
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.
After the inspection, the home inspector provides a detailed report that includes:
The report is your roadmap for addressing problems and making an informed decision about moving forward with the purchase.
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:
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.
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!