How Much Does a Home Inspection Cost?
4 Min Read | Published: April 16, 2024
This article contains general information and is not intended to provide information that is specific to American Express products and services. Similar products and services offered by different companies will have different features and you should always read about product details before acquiring any financial product.
A home inspection can reveal important information about the condition of a home, helping you to make an informed purchasing decision.
At-A-Glance
- A home inspection can reveal important information about the condition of a home you’re interested in buying.
- A typical range for a home inspection might be between $300 to $500 or more, but costs can vary considerably, depending on the region, size of the house, age of the house, and other factors.1
- By getting a home inspection, you can make an informed decision on a property and avoid surprise repairs in the future.
A home inspection is a visual assessment of a property’s physical structure and mechanical systems. The inspection can help you uncover potential issues and gain insight into the overall condition of a home so you can decide whether you’d like to purchase it, negotiate its sale price, or even walk away.
While a home inspection is an additional cost, you could potentially save yourself thousands of dollars in home repairs. Below we’ll dive deeper into how much you can expect to pay for a home inspection and why you should get one.
Why Get a Home Inspection?
While a home inspection is optional, it’s often well worth the cost.
With a home inspection, you can uncover potential issues with the home, helping you to gain insight into whether the property is a sound investment.
A home inspection can help you to gain insight into what is considered to be a fair price for the home. If the inspection reveals that the home is overpriced due to extensive damage, you may be able to work with the sellers to negotiate a lower price and save money. However, if the inspection shows that you’re getting a good deal, you may want to proceed with the purchase.2
How Long Do Home Inspections Typically Take?
A home inspection typically occurs after the seller has accepted your offer and usually takes about two to four hours to complete. Once complete, you’ll likely receive the inspection report with all the findings, photos, and recommendations within one to two days. If possible, you should attend the inspection so you can ask questions and understand the process firsthand.3
How Much Does a Home Inspection Cost?
A home inspection is typically included in your closing costs. A typical range for a home inspection might be between $300 to $500 or more, according to the U.S. Department of Housing and Urban Development, but costs can vary considerably, depending on factors including the region, size of the house, age of the house, and scope of services.4 They advise considering the value of the home inspection in terms of the investment being made.
Here are some factors that can influence the cost of an inspection:
- Age and Size of the Property: In general, a larger, older home will cost more to inspect than a smaller, newer home.
- Property Type: A single-family home is typically easier to inspect than a townhouse or condo with shared spaces that require additional evaluations.
- Location of the Property: A home inspection in a rural town is often more affordable than an inspection in an urban area.
- Complexity of the Inspection: The inspection could be more complex and expensive If a home has unique features like a septic system or pool.
- Inspector Reputation: You’ll pay more for an experienced, reputable inspector than someone new to the field.
What Does a Home Inspection Include?
Inspections tend to vary by home and inspector. However, a typical report checks for over 1,000 home features,5 including all its major systems and equipment. Many home inspections evaluate these components:
- Water damage
- Roofing
- Electrical systems
- Heating and air conditioning
- Plumbing
- Windows and doors
- Walls, ceilings, and floors
- Attic
- Visible insulation
- Windows and doors
- Foundation, basement, and structural features
Check with your inspector to find out what their inspection covers. If you’re concerned about a specific system or function they don’t mention in their report, you may ask them to include it.
It’s also important to note that your general home inspector may have recommendations for additional specialty inspections once they are finished. These may include:
- Radon inspection
- Mold inspection
- Asbestos inspection
- Lead-based paint inspection
- Sewer camera inspection
- Roof inspection
- And more
Did you know?
You can find a reputable home inspector in your area on the American Society of Home Inspectors (ASHI) website.
Frequently Asked Questions
A home inspector focuses on a home’s structural integrity and major systems. An appraisal, on the other hand, estimates a home’s value. Both play a role in the home-buying process.
A warranty is not a replacement for a home inspection. Warranties usually don’t cover all the components of a home or assess its current condition.
A home inspection may not be required for a mortgage, but this will vary, depending on the type of mortgage you get. For example, a government-backed loan may require a home inspection before you can close on the home.
The Takeaway
A home inspection is a professional assessment of the current condition of a home. While it may cost somewhere between $300 and $500 or more, the inspection can help you decide whether a property is priced fairly and potentially reduce the risk of unwanted repair costs down the road.
1,4 “Ten Important Questions to Ask Your Home Inspector,” U.S. Department of Housing and Urban Development
2 “FAQs About a Home Inspection,” American Society of Home Inspectors
3 “InterNACHI® Home Inspection FAQ for Home Buyers & Sellers,” International Association of Certified Home Inspectors
5 “How Much Does a Home Inspection Cost,” HomeAdvisor
Anna Baluch is a personal finance writer from Cleveland, OH. She enjoys helping people from all walks of life make smart financial decisions. Her work can be seen on Credit Karma, Forbes, LendingTree, Insurify, and many other publications. Connect with Anna on LinkedIn.
All Credit Intel content is written by freelance authors and commissioned and paid for by American Express.
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