FAQs: What Do I Really Need To Know About Home Inspections?

So you've got your eye on a property, and those rose-colored lenses are in full effect. You might even be experiencing some premature relief that the house hunting process is almost over now that you can see the light at the end of the tunnel. At the end of the day, we know that you don't want to find out that your dream home is riddled with issues a few months after you close the bargain, so we've compiled a list of 'Need to Knows' to bring you up to speed on Home Inspections.

"Who needs a home inspection anyway? Do I really need to pay someone to look at this property when I have two perfectly good eyes?"

In short, everybody looking to purchase a property needs a home inspection. In the big scheme of things you're simply making an investment into the property you're hoping to buy, a move that could end of saving you thousands of dollars. Every aspiring homebuyer thinks they won't be the ones who accidentally buy a sinking ship, but at the end of the day it could happen to any of us. Home inspections provide a measure of professional accountability to ensure the structural integrity of the house and it's systems from top to bottom. It's easy to become subjective and allow emotion to influence our decisions when buying a house. A home inspector is the best way to get a professional, completely objective opinion on the property in question.

"What does a home inspection include?"

To answer this next question, we went to the source itself, homeinspectors.org.

"The standard home inspector's report will cover the condition of the home's heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components."

In short, the home inspector is giving the property the good ol' ocular pat down to make sure that you're aware of any looming flaws before you make the final decision to buy.

"What if the house is newly constructed, do I still need a home inspection?"

Absolutely. If you haven't already noticed we're not about to budge anytime soon in our position on this particular topic. Just because a home is newly constructed does NOT mean that it's automatically ready to live in. While most people in the market for a new home have already accepted the importance of home inspections, there are plenty of mavericks out there that like to roll the dice every now and then. Remember, your buyer's agent is on your side.

"How much is this home inspection going to cost me anyway?"

Much like the cost of housing, the cost of hiring a home inspector usually varies based on location, the size and age of the house, etc. There are usually additional services available, such as septic, well or radon testing and sewer line inspections. These optional inspections are highly recommended for people in the market for an older home. Even if everything checks out, they are sure to provide additional peace of mind for you and your family. A typical single family home under 2000 square feet on a slab foundation without a pool is usually around $500.