Home inspections are an important step in the home buying and selling process.
Eventhough home inspections are common, most people only buy a handful of houses in their lifetime, so inspectors get a ton of questions.
Here are some of the most commonly asked questions about home inspections!
What is a Home Inspection?
A home inspection is a non-invasive, visual analysis of the structure and major systems of a home.
Foregoing an inspection could result in having to pay thousands of dollars in repairs. It also leaves the potential of purchasing a home that is unsafe to live in for you and your family.
The Inspection Includes:
What’s the Difference Between a Home Inspection and an Appraisal?
Whether you’re getting ready to purchase or sell a home, having either a home inspection or an appraisal is a part of the process.
Buying a home is a big expense and investment, so your home needs to be evaluated for monetary value according to the current market and any upgrades you have done.
It is easy to confuse appraisals and inspections with being the same thing, but they are actually quite different.
An appraisal is the process of determining the price a home based on various factors, such as:
Location of the home
Proximity to desirable schools and other public facilities
Size of the lot
Size and condition of the home itself
Recent sales prices of comparable properties
The appraiser’s job is to protect the bank who will be providing a loan for the home against owning overpriced property.
Appraisers do not perform inspections of the home. They typically make a record of visible signs of neglect that they can see when taking a look at the home. Usually this means cracked walls, chipped paint, broken windows, damaged flooring, etc.
An inspection is a much more thorough overview of your home.
An inspection is not required for the purchase of a home, but it’s still highly recommended.
A home inspector will look at every element of the home, looking for defects that might cost the buyer unexpected amounts of money in hidden repairs, or be unsafe.
The home inspector’s job is to give the buyer an informed and professional insight into the home’s condition and possible repairs.
How Much Does a Home Inspection Cost?
Home inspection prices are typically based off of square footage.
Other factors include:
the size and features of the house
additional considerations such as optional testing
It’s always a good idea to compare prices from several different home inspection services in your area, paying close attention to exactly what is included for the price.