Are Home Inspections Worth It? - Price vs. Value
By Andrea Davis, HomeAdvisor.com
Home inspections are an important part of determining whether a home will need additional repairs or maintenance before it’s sold or bought. But are they always worth the investment? It depends on whether the benefits of home inspection outweigh the cost. This information will help you decide.
Why Get a Home Inspection?
Home inspections are used to provide an opportunity for a buyer or seller to identify any major issues with a home prior to closing. Realtors are also known to include home inspection clauses in some situations, such as new home construction.
What is Covered in a Home Inspection?
In new home construction, inspections generally cover:
Home inspections are limited. Even with an inspection, you may end up with undiscovered issues you’ll have to fix down the road. Home inspections only find the “visual cues” for problems. A foundation crack, slanted floors, doors that don’t properly close -- these are signs of bigger problems. However, problems without visual cues -- pests, radon, lead -- may crop up after the inspection. Some inspectors offer radon testing as an add-on; some will recommend asbestos testing services if your home appears to be at risk.
Some areas inspectors won’t look at include:
The cost will vary depending on a variety of factors. Ask ahead of time how an inspector charges. The average inspection will last three hours. Always accompany your inspector on an inspection, asking questions throughout the process.
Compare this cost against the value of the home inspection. If you’re a seller, an inspection will help you understand exactly where there are problems in your home that could make or break a sale (i.e., cost you a lot of time and money and keep your home on the market for longer than it should be). If you’re a buyer, this inspection is crucial to understanding how much money you may need to spend on a home after the sale. For new home construction, it’s an imperative part of the building and finishing process. Either way, addressing issues early through a home inspection can save you tens of thousands of dollars down the road.
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