What Does a Home Inspection Cover?
It is true that these inspections are optional, but we advise that all buyers spend the necessary funds to carry it out. A home inspection can cost between $ 300 and $ 500, depending on the area, but in the long term they can save the owner thousands of dollars. A home inspector can see and notice problems that an average eye may not find, which relieves future unforeseen repairs in the home, avoiding increased costs. Adding an inspection of the home to any purchase offer guarantees that any problem that may arise is known in advance. This can affect not only the price of the offer, but can make us decide whether to continue with the contract.
American Society of Home Inspections establishes a standardized practice for inspections of homes in the United States. A typical home inspection includes structure rules, roof and attics inspections, basement inspections, HVAC system checks, plumbing, appliances, and garage space checks. Inspectors are considered third-party observers. Their job is mainly to provide objective information about any home for which they have been hired. It is suggested that the buyer be present at this inspection to be able to ask the housing inspector questions about any problems or discrepancies seen by the inspector or the buyer.
Inspections can take between 7 and 14 days and an inspection report is issued that will include the following:
- If there are problems in the house.
- If the problem is a security problem, a minor repair or a major defect.
- What items need to be replaced and which ones need to be repaired or repaired.
- What items are suitable for use, but must be monitored by the buyer.
Once the buyer receives the home inspection report, the buyer can counteract the seller with the repairs and updates necessary to continue the current offer. If the seller is not willing to make these changes, the buyer can opt for a price reduction or choose to leave the contract.
If there are additional concerns regarding a house or special circumstances, the buyer may request the following inspections in addition to the home inspection:
- Lead-based paint: If the house was built before 1978, it is extremely important for the health of the family to eliminate this paint.
- Pest and termite control: Termites and pests can quickly reduce the structure of your future home. It is very important to carry out this inspection and keep in mind that the homeowner's insurance does not usually cover termites. VA loans require a termite inspection in most states. The average termite inspection is around $ 100.
- Foundation Inspection: Averaging $300-$400, this inspection is completed by a structural engineer. This is usually only necessary if a home inspector notes a problem in their inspection.
- Lot Size Survey: These average between $300-$700 and verifies the size of the lot and if there are any easements to the property.
- Chimney Inspection: These are an absolute must in any home with a chimney present. A chimney requires internal inspection for any cracks and unforeseen issues. If this is not completed, there is a risk of major hazards within the home. These average $100-$250.
- Water Inspection: If the home is on a well system, it is suggested that the home receive a water inspection. The water should be tested for chemicals such as lead, cadmium and arsenic. The average water test is $150.
- Radon Test: This should be required if there is a concern from the home inspector that radon gas is present. This is an affordable test at $15-$25.
- Seller’s Inspection: Some sellers will provide a home inspection completed by their own company. As a buyer, it is always best to bring in a third-party provider for this service in case of any undue persuasion whether intentional or unintentional.
- There Will Be Problems: Even new construction homes have minor issues on their home inspection. Home inspectors are there to nit-pick every inch of the home for issues. This is why it is critical for a buyer to be present during the home inspection to determine what is truly an issue for the buyer and what is trivial.
- Don’t Depend on the Seller: Smart sellers will not agree to fixing everything, but sellers should accommodate fixes that are within reason. Major issues will need to be negotiated through the selling price.