By 2026, the home inspection industry is expected to grow 10% by 2026. Homeowners know home inspections not only uncover issues with their new home but inspections will also help them save money in the long-term.
Finalizing your new home is exciting, but many homeowners dread the potential future repairs that could come, especially if their home is older.
These repairs can add up in costs, a lot more than what you could pay for an initial home inspection.
How does the house inspection cost compare to the amount you can save? Read this guide and see how repair costs quickly add up.
The House Inspection Cost: How Much Should You Expect to Spend?
Every inspection company has different inspection prices and each inspection can include something different. The price also largely depends on the size of your home.
There are also specialty services, such as roofing and foundation inspections, that can differ in price. This is why home inspections costs vary.
The average home inspection cost is $315. An inspection for a condo or a small house (1,000 square feet) can cost as little as $200. Larger homes (2,000 feet+) can expect to pay at least $400.
These are general prices. Some inspectors may charge extra for a mold inspection and you may have to see a specialist if you suspect excessive mold. The same goes for roofing and foundation inspections.
It’s still safe to say the few hundred dollars you spend before finalizing your home can help you save thousands in the future.
Estimated Repair Costs
You want to live in your home for years. Ideally, you will like to save money while living in a sturdy home. But you can expect to shell out thousands if you pass up on the inspection. Here are the estimated repair costs to know.
A day without plumbing can make you feel like you’re living in the Stone Age. This is why it’s best to ensure your plumbing works and you don’t have to expect any issues down the road.
You can also keep some extra change in your pocket. Even a small leak has some serious costs because that’s between $1,041 and $3,488 down the drain (pun intended).
An inspector can detect a leak by looking for stains on your walls, ceiling, and flooring. They can also look for structural damage on the pipes and even other details such as noisy pipes.
A roof inspection needs to be done by a specialty inspector. But this service is still worth the extra cost. That’s because a new roof and even roof repairs can set you back thousands.
Roof repair can cost between $316 and $1,406, depending on the necessary repairs. But a new roof can cost between $4,660 and $8,950.
Even the smallest problem to your electrical system can leave you without basic utilities.
This is why electrical repairs can cost you thousands. A home inspector can inspect the wire, meters, switches, circuit breaker, and outlets for any problems.
Heating and Cooling
Have you ever traveled somewhere extremely warm such as Barcelona and stayed at a hotel without air conditioning? We hope you never do.
And you should also hope you never live without basic air conditioning and/or heating in your home.
An inspector can examine the home’s existing HVAC systems and see if there are any problems that require repairs or even replacements.
If not, then you’re burning $5,238 for an AC replacement. If the heater or furnace gives out, then that’s $3,919. And none of these costs includes the suffering of sweating or freezing.
Like a roofing inspection, a foundation inspection is a specialty service. But this investment is also important.
Foundation problems can be a huge headache. The walls can get cracked, water can seep into the home, the floors can sag, and other issues can arise.
The cost behind repairing the whole foundation is also headache-inducing. Expect to spend as much as $5,880.
No one likes the idea of your home killing you or your loved ones.
But that’s what can happen if your home allows cancer-causing radon to flourish. Radon is a naturally-occurring odorless gas and is a leading cause of cancer and your home can act like a vacuum that draws in radon.
Many inspectors offer radon testing for an extra charge. The extra money spent is worth it. Otherwise, your home can cost you your life or the life of a loved one.
Some pests, such as cockroaches, are an inconvenience. Other pests, such as termites, can cause thousands in structural damage because they eat at your home’s wood.
And do you want bed bugs, poisonous spiders, and other critters showing up unannounced?
Not every home inspection service offers a pest inspection. It’s also recommended you have an inspection every couple of years, as opposed to only when you move in.
But doing so can save you thousands and the relief of not dealing with bugs.
So, How Much Can You Save?
Those $300-some dollars spent on the first inspection doesn’t sound too bad, right?
It shouldn’t. Adding up these costs, a home inspection can save you over $25,000, assuming you have to repair and/or replace every single area mentioned in this article.
What You Can Do
Even though the inspector is the professional, it’s recommended you attend the inspection. The inspector can point out any issues and can recommend a course of action.
Let’s say your home passed the initial inspection. Do the inspections end after you buy your home? They shouldn’t.
Consistently check the utilities, appliances, and other areas mentioned in this article.
Get a Home Inspection in Northeastern Ohio
Are you on the fence about a home inspection because of the house inspection cost? Don’t be — those few hundred dollars are nothing compared to the tens of thousands of dollars an inspection can help you save.
If you’re buying a home in Northeastern Ohio, we include services that many home inspection companies don’t. We can also work with your schedule and provide recommendations and advice.
Schedule an inspection with us today!