Why Should You Get a Home Inspection?
I find most folks are willing to take a used car to a mechanic to look it over before they purchase the car. They probably spend about $150 to do this, and the car may cost between $5,000 and $10,000. So, why wouldn’t you consider having your home inspected by a house “mechanic” before spending $200,000 to $300,000?
A professional home inspection can be done at a cost between $350 and $500. Your Realtor can write your contract up to be subject to these inspections. Here are some of the common items I see in inspections, and the costs associated with repairing or replacing any problems the home inspector finds:
- Double tapping in the break panel. This usually means you have too many wires feeding into one circuit in your break box, which makes it a fire hazard. Resolving double tapping can cost between $75 and $150, but if the break panel is out of room, you would also need to add a distribution panel at a cost of $1,000.
- Heating and Air Conditioning. I find most sellers aren’t in the habit of servicing their HVAC systems yearly. This could be a hidden cost passed along to you, the buyer. Servicing the HVAC costs around $75 to $150. If the HVAC hasn’t been serviced, you could end up with AC condenser issues ($3,000 to repair) or issues with the furnace’s heat exchanger ($3,500 to repair). As you can see, servicing your HVAC systems avoids some costly problems down the road.
- Attic and Crawl Space issues. This is where we find hidden problems never seen by the homeowner that can explode into large cost problems for you, the buyer, to fix.
- Water seepage along the vent flues. Sometimes the rubber boots that go along the flues become cracked, and when it rains or snows, you get water in through those vents. That costs $50 to $100. Ice damming causes water damages along the eves of the property, which could cost $250 to $350 to fix. If water gets in and mold grows or the wood rots, then your repair costs would be thousands of dollars.
These are just a few of the common issues we see during home inspections here in the GTA. As you can see, an inspection pays for itself. Don’t forget, always inspect!
A good home inspector can save you lots of money and give you peace of mind. Feel free to email me. We’ll be happy to put you in touch with a couple of home inspectors that we have found to be good.