It can cost thousands of dollars to close on a home purchase, but there are many expenses we encourage you not to skip. The home inspection is one of those costs. Even though according to HUD, an inspection may cost you as much as $500, depending on where you live, it’s an important process that you shouldn’t skip.
Don’t get us wrong, not everyone in the United States pays $500 for a home inspection. In some areas, you may see the costs as low as $300. It depends on where you live, the size of the home, and the type of inspection.
What Type of Inspection?
You can order a basic home inspection or a specialized inspection. The basic inspection covers the whole house. The inspector looks at the basic operation of all utilities, looks for signs of mold or pest damage, and tells you how many years the roof still has on it.
A specialized inspection may look for specific problems. For example, if you know there are mold issues with a home, you may want an expert to examine the mold and determine the severity of it. Other specialized inspections include pest inspections, asbestos inspections, and sewer inspections. You may be able to have your standard inspector handle these issues for you too, but if you want a specialized inspection, be prepared to pay a higher price.
The Size of Your Home
It probably goes without saying that the larger your house is, the more you will pay for an inspection. The more there is for the inspector to look at, the more the inspection will cost. For example, a condo will likely be a lot cheaper than a 3-story, 3,500 square foot home.
You should also watch out for surcharges. If there is something peculiar about your home’s layout or you need a specific area inspected, you may pay a little more. It’s important that you ask the inspector up front how much they charge for the exact services you need.
Different Inspectors Charge Different Prices
If you shopped with three home inspectors, chances are you would get three different price quotes for the same inspection form each company. That’s because each company has different overhead costs, experience, and expertise.
If you just need a general inspection, you want to look for an inspector that is licensed and insured and have some experience under his belt. You don’t need a specialist, so you shouldn’t pay specialist prices. Now if you know there’s an issue with a home or homes in the area all have a common issue, you may want to look for an experienced inspector or one that has handled the homes in the area before. Yes, you may pay more for that inspector, but protecting your investment in a home is worth it.
As you can see, the price of a home inspection could be high or low. It depends on many factors. We suggest that you get quotes from at least three inspectors in your area so that you know the average cost in the area and can tell the inspectors that charge insanely low prices or incredibly high prices. You probably want to steer clear of both of those and stick with the inspectors that charge average prices for your area.