Whether you’re buying or selling a home, home inspections are a key part of closing any deal. The inspection serves as a top-to bottom overview of the home — from structure to plumbing and electrical — to ensure safety and peace of mind for new homeowners. According to the American Society of Home Inspectors, home inspections can range from $350 to $500 depending on geographical location, and are typically the responsibility of the homebuyer, although it’s not uncommon for sellers to conduct them.
Anything that is readily accessible and clearly visible can be a part of the inspection, which can take from two to four hours. Buyers should always tag along on home inspections to see firsthand what the inspector notices and identifies as potential cause for concern. This is especially helpful in making sense of the inspector’s final summary report, which will note anything in the home that might need fixing or that could lead to big issues down the line, such as a cracked foundation, faulty wiring, defective heating and cooling systems, or the presence of mold or water stains.
While it is not included in a normal home inspection, many experts recommend spending the extra money to conduct both termite and radon inspections before deciding whether to buy. Buyers shouldn’t be nervous to use the findings as bargaining chips during negotiations. Oftentimes, sellers will repair problems or lower the home price based on issues the inspection discovers.
Your Home Newsletter September 2012