Home inspection checklist for buyers
Having your own home inspection checklist will help you work with your inspector. You may identify areas of concern that you can pass along.
Outside the house
Roof. All roofs need maintenance, so you’ll want to know how soon it could become a major expense. Find out how old it is and ask questions about any damage or discoloration you see. Also, check nearby trees. Leaves and branches cause damage and give rodents easy access.
Water. Water can rot wood, damage your foundation, and cause mold. Look to see if anything would cause rainwater to flow onto or under the house. The rain gutters should be clean and direct water away from the property.
Foundation. Problems with the foundation could prove costly. Watch out for big cracks in the ground, raised foundation, or walls. Also, pay attention to any trees growing close to the house. It’s very common for roots to cause damage that you can’t easily see.
Inside the house
Water. Water can be so destructive, you’ll want to look for it everywhere. Watch out for:
- Water stains on ceilings, walls, or floors. These could indicate a roof or pipe leak.
- Leaks or water stains inside sink cabinets. Be sure sinks and tubs drain properly.
- Evidence of leaks in the attic and basement.
- Water stains below windows. Bubbling paint on a window frame could be evidence of water intrusion and a poor seal.
Appliances. Turn on appliances, including the heater and air conditioner, to make sure they run. Run the garbage disposal. Confirm the home has hot water and all plumbing fixtures work.
Signs of age. Old houses are wonderful, but if you buy one, you might need to upgrade certain features. If a wood floor has already been refinished, it may be too thin to refinish again. Clay and cast iron pipes wear out. Old windows are not energy efficient. Old wiring could be a fire hazard. Older homes may not have enough electrical outlets to accommodate a digital family.
If you’ve never bought a home before, check out our list of lenders for first-time homebuyers to help you through the process.
How to hire a home inspector
First, find out whether your state requires home inspectors to be licensed. If so, be sure to verify that your inspector has a valid and current license.
Ask around for referrals. Your real estate agent probably knows more than one home inspector. Also check with friends, family, or coworkers.
Here are a few questions to help you get to know the inspector and compare your options.
- What does the inspection cover?
- How many residential inspections have you completed? For newer inspectors, is a more experienced inspector available to double check the work?
- How long will the inspection take?
- When will the inspection report be ready?
- How much does it cost?
Ensure your home inspector is not affiliated with the seller in any way. The inspector is on the buyer’s team. You want to feel confident that person will look out for your best interests.
How much does a home inspection cost?
According to the Department of Housing and Urban Development, a typical price range is $300-$500, but you might pay more. The price will vary depending on where you live and the condition and size of the home. The home buyer pays for the home inspection.
Specialty inspections are not usually included in a presale visual inspection. If you need the home inspected for termite activity or mold (beyond what’s visible), you may need to pay an additional fee or hire a special inspector.
Read our first-time homebuyers guide to find out more about other costs you’re likely to face.
What happens during an official home inspection?
The inspection process is a lengthy visual inspection of the home. It may take a few hours.
In addition to the items above, if the attic, basement, or crawl space are accessible, the inspector will probably enter those areas. Other items that are commonly checked include:
- Walls, ceilings, floors, and doors
- Interior plumbing fixtures
- Structural integrity
- Proper ventilation
- Visible termite damage
- Electrical panel
- Ground Fault Circuit Interrupter receptacles, which are outlets that protect you from getting shocked
- Carbon monoxide detector and smoke detector
- Garage door operation
Besides checking to make sure things work, the inspector will note any safety hazards.
After the inspection, you’ll get a detailed home inspection report. What you do with the report is up to you. In some transactions, the home is sold as-is. No matter what comes up in the inspection, you can either take it or leave it. Other deals allow for an inspection contingency. That means you agree to buy the home provided the inspection is satisfactory. If it isn’t, you can renegotiate. The seller might be willing to do a repair or reduce the price of the home if the inspector finds a problem.
Some types of mortgage loans require special inspections. The Federal Housing Administration loan program has its own inspection, for example.
Tips for home inspection day
Here are some tips to get the most out of your home inspection:
- Be there. You don’t have to go to the inspection, but it means you can see any problems for yourself.
- Be prepared. Bring a blank inspection checklist and jot down questions to ask the inspector.
- Check for disclosures. Review any seller disclosures you received before inspection day. Be sure to ask your inspector to look at those areas and verify repairs. If you are buying a foreclosed home, there may be no disclosures.
- Let the inspector work. Avoid unnecessary interruptions.
- Make sure there’s time to ask questions. Set aside some time before the inspector leaves.
View more information: https://www.fool.com/the-ascent/mortgages/home-inspections-for-buyer/