You have been looking around for months to find a home of your dream, and now you think you found one. You are currently fascinated with your new-found love, but you should step back and analyze your findings. Some people may have worked two jobs to afford the down payment on a home and have limited liquid cash beyond that to provide anything breaking down in the first three years after closing. Thus, you need to get a home inspection known as the necessary evil of the industry. The results can determine the evil part.
A home inspection can reveal a lot more than the owner of the home want to realize. If the owner does not want to make concessions for the negative home inspection report, it can be disappointing to the buyer after he or she has paid for a home inspection report. Many home buyers will feel upset that they paid the inspection fee and they cannot get the home because it reveals issues that the buyer would have to come out of their pocket to fix soon after closing. Going along with the purchase with the adverse effects not corrected makes the home purchase overpriced.
A home inspection fee can be a hard pill to swallow if you find a home and then go under contract only to find out too many issues to handle. If you go under contract four times and order home inspection four times, it can eat away at the money you saved up to buy a home. However, if you did not do a home inspection and you purchased a home only to find out shortly after closing, the roof boards need to replacement, and the chimney needs lining then you could end up with significant grief. An issue of such could make you late on your mortgage if you are dealing with limited funds.
Depending on the home size, a home inspection may run between $200 and $500 or more depending on your region or location. A knowledgeable realtor can help to minimize the liability.