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Buying a new house is an exciting process! And once you find the home of your dreams, you may just want to move in as soon as possible!
But before you sign any closing papers, you need to make sure this house is everything you hope it is. This means getting a home inspection to check for any hidden problems.
Home inspections can be an investment, but your costs will depend on several factors. Read on to learn more about home inspection costs and what to expect from your inspection.
What Is a Home Inspection?
Before we dive into all the costs surrounding a home inspection, let’s talk some about it. As you might guess from the name, a home inspection is when you have a professional look at a house you’re considering buying and look for any problems. They’ll check the home’s plumbing, electrical systems, foundations, etc.
Depending on how you’re buying your house, you may be required to get a home inspection before you purchase it. Most mortgage lenders require a home inspection to ensure their investment is protected.
And as we’ll discuss more in a moment, getting a home inspection is incredibly important for your peace of mind.
Why Is It Important?
When you buy a home, you want to make sure it will be safe and healthy for you and your family. Unfortunately, cracked foundations, damaged roofs, bad wiring, termite damage, and leaky plumbing can all be costly to repair.
And depending on how the home is presented, you may not know these problems exist until well after buying the house.
A home inspector knows what danger signs to look for. They can ensure there aren’t any money pits lurking in your potential new home. They can also let you know about minor repairs that need to happen to keep the house in good shape. All of this can save you thousands in the long run and a lot of headaches.
What’s Included in a Home Inspection Cost
Home inspections are an investment, so what all will you be getting for that money? Your certified home inspector will start in your yard, checking all your drainage systems and exterior structures. They’ll also look at the roof and the foundation for signs of damage and check any chimneys, as well as the windows and gutters.
Next, your home inspector will head inside and look at your electrical and plumbing systems to make sure everything seems up to code. They’ll test your HVAC system and any appliances to make sure they’re working correctly and then go up in the attic to look at the insulation, wiring, ductwork, and roof. They’ll also check your doors and walls for signs of damage and make sure any fireplaces work.
Overall Costs
There are several factors that play into the overall home inspection cost. As we’ll discuss more in a moment, the size of the home and the specific inspector you work with can drive your price up or down. While you don’t want to get ripped off, you don’t want to work with the cheapest inspector on the market.
On Long Island, NY, home inspection costs generally range between $280 and $680. This may seem like a lot, but think about how much you’ll pay if you discover a year into owning your home that there are major structural issues. This investment is worth the up-front costs, and you could even roll those costs into your mortgage if needed.
House Size
The size of your potential new home will be the most significant factor in determining how much you’ll pay for your home inspection. No surprise, the bigger your house, the more you’ll pay.
In addition, houses with complex layouts or spaces that are hard to access (such as roofs, attics, or crawl spaces) will also cost more.
If your new house is 2,000 square feet or less, your home inspection cost should be about $400 or less. Homes between 2,000 and 4,000 square feet may cost between $400 and $500. And homes that are more than 4,000 square feet will be on the upper end of the price range and have a home inspection cost usually between $500 and $700.
New Construction
If you’re buying a brand-new home (or having one custom-built), you may feel like a professional home inspection isn’t necessary. After all, what could be wrong with a brand-new house? But unfortunately, even new houses can have shoddy craftsmanship or unexpected problems lurking in the shadows.
New construction home inspection costs will depend on when you get the inspection done. If you can get the house inspected before the drywall goes up, you could pay as little as $100 for your inspection. After the home is complete, inspections will run at about the same rate as regular inspections.
Learn More About Home Inspection Costs
Home inspections can seem expensive, but the truth is that those costs are a worthwhile investment in your future home. Your home inspection costs will depend on the size of your house and how accessible all its nooks and crannies are.
If you’re buying a new construction home, you may be able to save on costs by getting it inspected before the drywall goes up.
If you’d like to learn more about home inspection costs, check out the rest of our site at Dean Miller Real Estate. We live and breathe the local real estate market, and we’re here to make Long Island real estate easy. Buy a home with us and start making your homeownership goals a reality today.
