Buying a home isn’t like buying a toaster. If you discover something’s wrong with your new home, you can’t return it for a refund or an even exchange. Purchasing a home is an important investment and should be treated as such. Therefore, before finalizing anything, your ideal home needs an inspection to protect you from throwing your hard-earned money into a potential money pit.
What Is A Home Inspection?
A home inspection is a professional examination of a home’s roof, plumbing, heating and cooling system, electrical systems, and foundation. Because the average cost of a home inspection runs around $316, but can help you avoid expensive issues like faulty wiring or a leaky roof, getting one ultimately will help you save money.
There are two types of home of inspections. There’s a general home inspection and a specialized inspection.
If the inspector recommends a specialized inspection, take that advice because you want extra assurance that you’re making a wise investment. The cost of the specialized inspection varies from type to type.
What A Home Inspection Can Find
Roofing problems are one of the most common issues found by home inspections. Roof repair can range between $316 and $1046, but to replace a roof entirely can cost between $4,660 and $8,950.
Don’t underestimate the plumbing. Small leaks can cause damage that costs between $1,041 and $3,488 to repair. Have a specialist check out the sewer system because you don’t want to fork out thousands of dollars for repairs the first year you own your home.
Ensuring the home’s heating and cooling system is working properly is very important. You don’t want to throw down $3,919 to replace an aged furnace. Nor do you want to spend $5,238 replacing an ill-working air conditioner. Replacing and repairing a water heater gets pricey too.
The foundation is so important that if the general inspection report shows foundation problems, lenders will not lend money on the home until those issues are solved. Foundation repairs can reach as high as $5,880 to repair them.
How Much Money Can a Home Inspection Save You?
A home inspection helps to find potential expenses beyond the sales price, which puts home buyers in a powerful position for negotiation. If there are any issues discovered during the home inspection, buyers can stipulate that the sellers either repair them before closing or help cover the costs in some other way. If the sellers do not want to front the money to complete the repairs, buyers could negotiate a drop in the overall sales price of the home!
Perhaps even more importantly, a home inspection buys you peace of mind. Your first days and months in a new home will set the tone for your life there, and you don’t want to taint that time with worries about hidden problems and potential money pits.
Work With a Professional Realtor
Are you in the home buying process? G in touch with me today! I’ll help you find a bona-fide home inspector, and give more useful home inspection tips. I’m here to help you save money, not throw it away.