If you’re buying your first home, or it’s been a while since you’ve been in the property market, you may question the importance of building inspections.
They add to your costs, and some sellers will say there’s nothing wrong with their property and you should save your money.
Many buyers in the current market forgo inspections to entice the seller to make a quick deal; but that is super risky.
The US Department of Housing and Urban Development estimates that you can expect to pay a minimum of $300 to $500 for a professional building integrity inspection, which should include a written report.
A more thorough approach, covering pest infestations, radon, electrical wiring, and sewer and water pipes, will cost around $2,000 for an 18,000sq ft home.
Your lender may insist on a basic inspection, or even conduct one independently to assess their own risk.
Remember, the purpose of inspections is to uncover serious issues, not find every flaw. If something serious needs fixing, you can then use the report as a price negotiation tool.
Many companies advertise home inspection services, but it’s always smart to ask for recommendations from friends, family and your agent. You can also source contractors from the American Society of Home Inspectors.
These are some questions that you should ask each inspector about their work so you can be confident the home of your dreams won’t turn into a nightmare:
Will I receive a written report, and when will it be ready?
Can I attend the inspection with you; I could have some questions?
Can you offer a quote for repairs that might be necessary?
Do you carry out remedial work?
What types of insurance do you have?
Are you a member of the American Society of Home Inspectors?
In the meantime, if I can help you purchase your next home or sell your current property, please do not hesitate to contact me.