4 Different Types of Inspections That Every Homebuyer Should Be Aware Of
4 Different Types of Inspections That Every Homebuyer Should Be Aware Of
As a homebuyer, you are responsible for paying for your inspection(s).
A home inspection is a visual review of a home to determine the condition of the home. This is always done by a trained professional.
How do home inspections work?
It can take several hours to complete, as the inspector is often taking photos, making notes and will organize it all to present to the buyer (or seller) in the form of a final report.
Inspections must be done prior to purchase to determine if there are larger issues (such as dry rot or a faulty foundation) that are not immediately visible to the untrained eye, but that would cost a lot of money to resolve. On the contrary, these can also be used by sellers to identify concerns that should be fixed prior to putting the home on the market.
While it may seem like this is a one-stop shop, it’s actually very intense. Not only are there different types of inspections, but there are also specific inspections that should be done by home type.
Take a listen to episode 8 where I had
De'Andre Henderson of Systemized Inspections on to talk about what inspections are and how they protect you. They are a lot more complex than you think!
Keep reading to learn more about 4 of the main types that you should be familiar with as a first-time homebuyer.
Home Inspections To Be Aware Of: Foundation or Structural Inspection
This is probably the most common inspection. It usually includes foundation, roof and various structural elements that are visible without moving things around, or removing them. This will provide the buyer (or seller) with the overall condition of the home so that you can make the best decisions based on the current condition of the home.
Structural or foundational inspections are normally used for homebuyers, home sellers and homeowners (for refinancing).
How much do Foundation or Structural Inspections cost?
Inspection costs are the discretion of the inspector and the state which you reside in. However, the average cost can be between $500 - $800.
Home Inspections To Be Aware Of: Roof Inspection
Roof inspections check for things that impact the top of your home, such as leaks, wind-related debris, organic growth issues and unusual wear and tear that may occur over the course of the home’s existence.
In short, they check for the integrity of the roof and when it will need to be replaced. These require special procedures as the inspector will not pull apart your roof to complete the inspection. They usually last a little less than an hour.
How much are roof inspections?
Again, this is at the discretion of the inspector and the state. However, the average is between $200 and $400.
Home Inspections To Be Aware Of: Mold Inspection
Mold inspections are exactly what they sound like. They determine if there is water damage present that contributes to the mold. The inspector will come in and perform a visual review for moisture mapping (for hidden leaks), surface sampling, possible faucet or pipe leaks and more. Mold inspections are looking for mold within the building, inside walls and in other areas where mold growth is undesirable.They will differ by home due to each home being different.
These must be completed by a qualified mold inspector who has formal experience with mold inspections. They are trained on finding evidence of past or current mold growth.
How much are mold inspections?
These are at the discretion of the inspector and home size, but you can expect to pay $500 - $100 on a 2000-2500 square foot home.
Home Inspections To Be Aware Of: Electrical Inspection
An electrical inspection provides a comprehensive review and will check on the adequacy, suitability and serviceability of your electrical appliances. Your inspector will ensure that there aren’t any fire hazards so they’ll check the switches, sockets and light fittings and more. They will also assess whether the home includes any faulty wiring, note the functionality of smoke alarms and scan for anything that doesn’t comply with state/local/national regulations.
How much are electrical inspections?
Electrical inspections range from $100 to $400 but is at the discretion of the inspector.
The bottom line:
While inspections can be costly, they will save you headache, time, money and your life. As a buyer, be sure to follow the direction of your inspector(s) and real estate agents so that you are investing in a hoe that will generate an Return on investment (ROI).
Listen to Episode 8 where De'Andre of Systemized Inspections will dive deep into each of these and more.
Are any of these inspections new to you? Comment below.
