When buying a new home, buyers are often uncertain about the additional fees that go along with the cost of the property. A home inspection is a necessary task that you should anticipate when buying a new home. How much can you reasonably expect to spend on home inspection costs?
If you need to make sure you have enough money within your budget, we’ve broken down your most frequently asked questions regarding home inspection.
How much does a home test cost?
Many potential buyers are eager to move into their new home, but you may not want to skip a home inspection. Not all lenders will require a check. However, this important item can save you thousands of dollars in the long run or help you avoid buying a home that will turn into a money pit.
A dishonest seller may try to hide major problems with the home in order to sell their property to an unsuspecting buyer. Other times, they may be really unaware of these errors that can cost you thousands of dollars to fix, such as outdated wiring, faulty plumbing, etc.
A thorough home inspection can help keep you from falling victim to this type of scenario. It will be well worth the cost of a home inspection if it can stop you from throwing away thousands of dollars on much-needed home repairs. What can you really expect to pay for a good home inspection?
There is no fixed fee for home inspection. Prices will vary depending on where you live, the size of the house, and the age of the house. According to Angie’s List survey, the average cost of a home inspection ranges from $300 to $450.
For homes over 2,000 square feet, you may be charged an additional fee. Homevisor recommends spending an extra $25 per 500 square feet.
Of course, you may have to pay more than this if you need specialized testing outside of the general rule that most lenders require.
Who pays for a home inspection?
Generally, the cost of a home inspection is borne by the property buyer. In rare cases, you can come to an agreement that the seller will cover the cost of the inspection.
A home inspection is usually conducted after signing a contract on the property, but some sellers may require it before making an offer.
What does a home inspection include?
If you are going to pay for this valuable test, it will help you to know what you can expect to achieve. A good home check is more than just cosmetic imperfections. It helps you spot major flaws that require immediate repair and maintenance that can haunt you on the road. You can even get an estimate of how much it will cost to make these repairs so you can ask the seller for accommodation or back out of the contract.
In general, a home inspection will cover the main items of the home:
- Roofing and shingles
- Foundations, basements, crawl spaces and structural elements
- Warm and cool
- Plumbing and sewers
- Insulation and ventilation
- Doors and windows
- Interior space
In each category, the inspection staff will survey whether there are aesthetic defects, minor defects or major defects. They can make notes about what kind of editing is needed and why. If it is found that a major problem exists, a specialist can be brought to the property to further assess the situation.
Even if the inspector doesn’t call a professional, you should contact one to get a better estimate of the repair cost. They can give you an idea of the extent of the damage and what steps are needed to repair it. This is an important tool to help negotiate a settlement with a seller before you buy a property.
To learn more about what and how a home inspector looks at your property, be sure to check out this checklist from the International Association of Home Inspectors.
Different types of home inspection
A complete home inspection will cover most areas of the property, but there are other forms of inspection that need to be considered. These are usually optional add-ons that can be a wise investment for you depending on the age of the property, location, and a few other key details. For more information on specialized home inspections, see this list of services.
Check for termites
Checking for termites can save you from financial ruin. When these nasty insects get into a home, it can cause serious problems with the structural integrity of the house’s foundation. Termite inspectors will look for signs of current or past infestations such as wood damage, mud pipes, termite wings and droppings, or exit holes.
This type of test costs between $70 and $200.
Check the septic tank
Most people never think twice about how their wastewater is disposed of, but you may want to reconsider whether your new home has a septic tank. It should be checked annually and pumped at least every three to five years.
During the inspection, they will remove the cap to check the water level. They also ensure that wastewater flows from the house into the tank without raising this water level. Last but not least, they often pump the tank and survey the area for backflow.
A septic inspection usually costs between $300 and $600.
Not all homes are connected to the county’s water and sewer systems. A home with its own well may need further testing. Checking the well can help ensure that you have the right pressure. Perhaps most importantly, they test to make sure that the water is safe to drink and use every day. You will have a report detailing whether the water contains any harmful bacteria, nitrates or arsenic.
The average cost of a well inspection is similar to a septic test. It usually runs from $300 to $500.
Depending on the age of your new home, you may want to consider scheduling an asbestos test. Asbestos can lead to lung cancer and mesothelioma when inhaled. They are commonly found in homes built in the early to mid-1900s. You can get asbestos in:
- Texture paint
- Patch compound
- Walls and floorboards covered with asbestos paper or cement board
- Vinyl floor tiles and vinyl subfloors or adhesives
- Hot water and steam pipes
It is not possible to determine with certainty whether a product contains asbestos based on visual inspection. A trained professional can visit the home, take a sample of potentially asbestos-containing material, assess its current condition, and make recommendations for any necessary corrections.
How much does home asbestos testing cost? Prices will vary considerably depending on the number of samples that must be tested. Multiple checks will start around $500.
Check home for peace of mind
A home inspection can give you real peace of mind that your new property is as good as it looks. At worst, it prepares you for the financial responsibility that will be required to repair the house. Knowing what you can expect to pay for your home inspection will help you better prepare for your upcoming purchase. When the time comes, your UpNest real estate agent will help you find the professional home inspectors you need to put your mind at ease.
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