If you’re thinking about buying a home, getting a home inspection isn’t a luxury – it’s an absolute necessity! Your home inspection will help you avoid buying a home with major problems that could cost you a lot in the future. It can also uncover smaller problems that could help you negotiate a better price.
However, when you’re buying a home, the costs can also start to add up. It’s totally normal to want to know how much you’ll need to set aside for your home inspection cost. Keep reading to learn more about exactly what you can expect.
Home Inspection Cost: The Basics
When asking the question: “How much does a home inspection cost?” it’s important to understand that the answer will vary. This depends on a number of factors including where you live, the size of the home, and the services that are included in your inspection.
Let’s take a look at a few of the most important things that will influence the cost of your home inspection.
A home with larger square footage will usually have a higher home inspection cost. Many home inspectors will charge a flat rate depending on the home size. For example, their rate maybe $350 for a home that’s 2,000 square feet or smaller. For homes that are larger, they may tack on an additional $25 or so for each additional 500 square feet.
In rural areas where there’s less demand, the going rate for home inspections may be lower. On the other hand, in metropolitan areas and places where the real estate market is booming, you may find that the prices are a bit higher. You might find this, for example, in areas like Florida, where retirees are regularly flocking, or northern California, where high-paying tech jobs are attracting many new residents.
The Home’s Age
Generally, older homes take longer to inspect. They may have more “wear and tear” and it’s more likely that the plumbing, wiring, and other internal features are antiquated. This often requires a longer inspection, and more time typically translates to a higher cost.
The Inspector You Choose
While it’s completely understandable to want to save money where you can, it’s rarely a good idea to hire the least expensive inspector you can find. This is a case where “you get what you pay for.” Hiring a fly-by-night inspector who is willing to cut corners could result in them missing an electrical problem, serious plumbing issues, or other major problems with the home.
If this happens, you might find yourself having to pay for expensive repairs that should have been caught.
It’s always a great idea to contact several home inspectors and ask a few questions. In addition to asking about the cost, make sure to ask “How long does a home inspection take?” The answer you get will be telling.
Depending on the age and size of your home, your inspection should take between two and four hours. Remember that it’s in your best interest for the inspector to be as thorough as possible, so you want someone who is willing to give the job the time and attention it deserves.
Beware of a low-cost inspector who tells you they can be in and out in an hour. If this is the answer you get, it’s in your interest to keep looking.
Who Pays for a Home Inspection?
In almost all cases, the buyer will pay for the home inspection. This occurs after the seller has accepted the offer and the home is in escrow.
In some cases, a seller may decide to hire their own inspector before putting their home on the market. This gives them a chance to uncover and fix problems before they have a chance to derail a future home sale.
According to Ohio state law, a home inspection is a “visual examination of the readily accessible components of a residential building.” The law goes on to say that a standard home inspection does not include environmental testing or pest inspections. If you need these services, they’re considered add-ons.
A basic home inspection will cover a thorough examination of the home’s interior, exterior, roof, foundation, crawlspace, and basement. You should expect to receive a detailed report that includes photos and information about each defect or issue that is uncovered.
Sometimes, depending on the home, you’ll need to purchase additional inspection services. This will come at an additional cost and you’ll usually have to hire a specialist.
Some examples include inspections for radon, termites, mold, and well and septic system inspections. While these are the most common, that’s not all. You may also need to hire an inspector to look for asbestos or lead-based paint, take an in-depth look at your HVAC system, or scope your sewer.
It’s always best to start with a basic inspection and allow the inspector to advise you about any additional inspections you may need.
Schedule Your Inspection Today
It’s important to understand that not all home inspection companies are the same. While home inspection cost is important, it shouldn’t be your only concern.
When choosing a home inspector, you want to make sure you find one that’s experienced and thorough. This will increase the chances that they’ll uncover everything you need to know about the home.
If you’re in Northeast Ohio, look no further than Class Home Inspection. We’re always willing to go the extra mile for our customers, so when you work with us, you can trust that your investment is protected. Reach out to us today to schedule your inspection.