ARE HOME INSPECTIONS WORTH THE COST?
In 2019, more than 90% of U.S. home sales involved a home inspection according to the National Association of Realtors (NAR) and the American Society of Home Inspectors (ASHI). That’s nearly 5.5 million homes. I don’t know about YOU, but to me, that’s a resounding YES – Home Inspections ARE worth the cost.
In the state of NC, home buyers can expect to pay at least $400 for a home inspection from a reputable company on an average 2,000-square-foot home. However, this price can easily reach $500 or $600-plus if you have a larger home or need additional ancillary services such as Radon measurements or mold or termite inspections, which aren’t typically included. It really depends on the size, location and age of the home.
Typically, the buyer is responsible for covering the cost of the inspection, unless other arrangements are made. Sometimes sellers will pay to have a pre-sell inspection completed in order to prepare their home for the market with time to seek out multiple bids for any discovered deficiencies of the home.
A trustworthy company like In Check Homes will look at all the major systems of a home including: Foundations, Crawlspaces & Basements, Floors, Walls, HVAC, Interior Plumbing, Electrical, Roof, Attic, Windows & Doors, and Structural components, then provide an easy-to-read written report with results. Additionally, most inspectors prefer that you the client, attend the inspection in order to learn about your potential new home. Most importantly, all NC Home Inspectors are licensed by the NCHILB and are required to follow the NC Standards of Practice. It’s in YOUR best interest to be familiar with these SoP’s.
CAN YOU NEGOTIATE PRICE AFTER THE INSPECTION?
Potential buyers can make an inspection a condition of the contract. So, if no major deficiencies are called-out, then the sale can proceed as planned. However, if major deficiencies ARE identified, then the buyer and seller may negotiate a way to cover repair costs. It’s important to keep in mind that state laws, including seller disclosure laws, are the only occasion where the seller is obligated to pay for repairs. For everything else, it’s up to the buyer/seller negotiations to determine WHO pays for WHAT.
HOME INSPECTIONS ARE A CRITICAL PART OF THE HOME BUYING PROCESS.
In the long run, failure to obtain a home inspection could potentially cost you A LOT of money and add even MORE stress to an already stress-filled experience. Purchasing a home is the biggest investment many of us will ever make. Saving $500-$600 by NOT having a home inspection could end up costing you thousands of dollars down the road.
In Check Homes knows you’re not just buying a home inspection. You’re buying peace-of-mind. Contact me today for a free estimate.