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If you want to buy or sell a home, it’s very important to ensure that it passes the property inspection. Whether we talk about a home buyer inspection or a home seller inspection, these are vital and can provide a wealth of information. You can identify potential issues that might bring the cost down, and as a seller, you have the opportunity to solve those issues before placing the house on the market. As a buyer, you’ll know what additional costs will arise once you buy the property. That means it’s a good idea to go for such a service and also learn the overall home inspection cost.
What’s the average home inspection cost in the US?
According to Home Advisor, the average home inspection cost is around $342. Country-wide, these costs will range between $300 to $500, with the higher prices entailing bundled services and additional solutions. Certain factors will influence home inspection fees. These include:
- Square footage
- Location
- Home inspector experience
- Property type
- Property age
- Basic or advanced services
When you opt for a real estate inspection, it’s very important to understand what services are included, but also how experienced the home inspector is. Will they cover everything, or do they only focus on specifics? On top of that, you also want to know if they have a one-time fee or if they have inspection fees for each thing they cover.
Home size will also be a major factor because the larger the property is, the more you will be expected to pay. That’s certainly something to consider when it comes to the total home inspection cost. Here are some average home inspection fees you can expect, depending on the home size.
| Home size | Price |
| Under 1000 square feet | ~$200 |
| 1000 square feet | Up to $300 |
| 1500 square feet | $300 to $400 |
| 2000 square feet | $400 to $500 |
| Over 2000 square feet | Over $500 |
Is a home inspection worth the cost?
The main role of a real estate inspection is to find any problems within the property. There are some common issues that fail a home inspection. These can be anything from plumbing issues to wall problems or electricity concerns. Solving them later on can be more expensive. According to SoFi, it can end up costing you $5000 on average to repair the foundation, $1000+ to do a roof repair, over $3000 to repair water damage, or $1000 to replace pipes.
If you’re a home buyer, you want to know if there are any additional costs you need to expect after you purchase the property. Not only that but as a buyer, you can negotiate a lower price if you showcase these issues. Sellers can ask for a home inspection, find problems early on, and solve them. That way, they can ask for a higher price upon selling the property.
Now the question is, do you actually need a home inspection? No matter whether you sell or buy a property, you always want to know what you’re working with. The reality is that every property will have its issues; even new constructions can sometimes have certain problems. The role of a home inspector is to help you save money and outline any repairs that you need to do. Any responsible seller or buyer should focus on getting a home inspection, as it can drastically lower their expenses. Plus, home inspections can be leveraged during a negotiation to increase/lower prices.
What’s generally included in a home inspection?
Every home inspector will have a different offering. That’s why you want to check what services they provide whenever you ask for a quote. But in general, they should cover:
- Doors, windows, and walls
- HVAC system inspection
- Electrical systems
- The yard
- External structures
- The property’s foundation
- Attic and roof
- Appliances
- Plumbing
It’s imperative to understand what each home inspector covers and if you pay a single fee or every service has its cost. Learning that will make it easier to ensure the home inspection is performed adequately and without any concerns.
Does this include special services?
Aside from the services outlined above, there are home inspectors who will provide additional packages depending on your needs. Not everyone will need extra services, and that’s why these come at an additional cost. There are home inspectors that will cover things like radon, termites, septic system checkups, lead paint, asbestos checks and others. You can also find property inspection packages that will cover new construction homes only. That’s why you want to talk with the home inspector, assess their offering, and then create a custom package that fits your requirements. Keep in mind that asking for additional services may incur additional home inspection cost.
How can you save money on a home inspection?
If you’re looking to lower inspection fees, there are a few things to consider. Here’s what we think would come in handy:
- Negotiate with the home inspector; a lot of companies will be ok with negotiating their prices, all you have to do is ask.
- Choose only some of the home inspection components, not the entire package. That’s helpful, because you don’t always need the entire home inspection. If you know that some parts of your home, like the foundation or doors/windows have no damage, you can skip that. It will certainly lower the inspection fees!
- Contact multiple home inspectors and ask them for quotes. That can be a great way for you to lower some of the costs. It’s the best method you can use to identify the lowest prices, so keep that in mind!
What will happen if the home inspector misses something?
Normally, home inspectors will inspect every nook and cranny of the property, so they rarely miss anything. But that can happen sometimes. If you encounter a major problem after moving and that was not included in the home inspection report, it’s a good idea to contact the home inspector. The best home inspectors have liability insurance, and that should cover the damage cost. However, you need to show proof the damage was pre-existing in order to access such compensation.
How much time will the home inspection take?
The average time of a home inspection will be affected by the property size and its complexity. You can expect a regular home inspection to last anywhere from 2 to 3 hours. However, if the property is very large, it can take up to 4-5 hours. The number of things you want checked will also influence this timeline as well, so keep that in mind!
Does a buyer pay for the home inspection, or the seller?
It depends on who asks for the home inspection. There can be a home seller inspection where the seller actively asks a home inspector to check the property before placing it on the market. That way, the seller will know what things need to get fixed, so they can ask for the highest possible price when selling the property.
But aside from that situation, usually the inspection is inquired and paid for by the buyer. The home buyer inspection is something normal because someone purchasing a property wants to know exactly what they have to repair, if everything is in a good state or not.
Home inspections will always influence the price since any issues found during the inspections can make it easier for the buyer to negotiate a lower price. Because, after all, they will have to pay for the repairs. One thing to note is that home inspection fees are not included in the closing costs; they are an extra cost on the buyer’s side.
Conclusion
A home inspection is very helpful if you want to buy or sell a property. Not only can it highlight any possible issues with the property, but it also gives you an idea of how much those issues might cost. And since the average home inspection cost is around $300-$400, it’s an excellent investment. Without a home inspection, you can end up overpaying for the property while also dealing with inherent repair costs. A real estate inspection can help you save thousands of dollars, and it’s certainly a service you want to use whenever you buy or sell a property!
