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Home Inspections

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Home Inspections: What You Need to Know

Many people do not realize that ordering a home inspection is only highly recommend, not required (depending on your loan type). There are only infrequent occasions where foregoing the home inspection option is a good idea, but those are few and far between. 

When weighing the cost of a home inspection compared to the cost of fixing items that even a general inspection will cover, the home inspection price tag typically pales in comparison. General home inspections cost between $200-$400 generally, depending on your location and the home inspector.

The basic home inspections check the appliances, plumbing, foundation, electrical set-up, attic, fireplace, HVAC system, windows, roof and the general interior/exterior of the home in question. Home inspectors have certain tools they use to determine the sustainability of each of the above-mentioned categories. 

On top of the general inspection, you may be required or at least to consider further inspections.

These inspections include: termite, radon, asbestos, mold, sewer, and lead, just to name a few. These extra checks are recommended based on location and the age of the home.

For example, Alaska residents generally do not need to be concerned with termites and homes that do not have basements are not as at high of a risk for radon.

Talk to your trusted Real Estate agent or Mortgage Loan Officer for information on what you should be checking in your future home.

Finally, if you get to pick your home inspector, be sure to ask them a few questions before solely hiring them based on the price of their service.

  • What does the home inspection cover?

  • If repairs are required, are you certified to complete the repairs?

  • What is the cost of the home inspection?

  • When will the home inspection report be ready?

  • May I be at the inspection? (If the answer is, 'no' - hang up!)

  • Of which home inspection association are you a member? (typical answers may be NACHI or NAHI, but being a part of any association is a good sign

These are just some of the basic questions that provide guidance when choosing a home inspector or home inspection company.

Finally, if you have any questions, reach out to your NOVA® Home Loans Loan Officer. While NOVA® does not perform the home inspection, we do know who to ask in your area for an honest report and how to most efficiently get your repairs finished.

If you are only in the house hunting stage, fill out a loan application by clicking 'Apply Now' and see what kind of house you can afford. We're here to help you however we can, so get in touch today!

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