Home inspections: What is NYC’s Average Cost?

Home inspections: What is NYC’s Average Cost?

These are our two observations about home inspections:

1. The Home inspection is one of the most overlooked steps in a real-estate deal. 

2 A home inspector is the most crucial part of any real estate deal.

Buyers often resist the idea of hiring professionals to conduct home inspections. No doubt, it adds an extra expense that is not appealing to buyers.

It is important to inspect your home to make sure it is structurally sound. It protects your investment.

Why hire professionals for a home inspection?

Conducting a Home Inspection in NYC is a serious business. To save money, some buyers might consider doing it themselves. This is not a good idea. Home inspectors are licensed professionals who have been trained.

What is the Cost of a Home Inspection?

A standard home inspection costs $300-$400 on average. Remember any law doesn’t regulate those home inspector fees and that the U.S. Department of Housing doesn’t regulate them.

Expect an experienced inspector to charge more than someone who has less experience.

The exact cost of the home inspection fee depends on many factors, including the inspector’s expertise and qualifications, the apartment’s area, the house’s age, the building’s location and any additional services.

The home’s square footage is a major cost driver for home inspections.

These are the Average Home Inspection Costs per Square Foot:

  • $800 for 4,000+ square feet
  • $450 for 2,000 square feet
  • $550 for 2,000-4,000 sq. ft.
  • $350 for less than 2,000 sq. ft.

However, termites and asbestos cannot be included in standard home inspections. These services will incur an additional charge from the inspector. You can customize your service package, add additional services or even remove certain items.

The following items are typically more expensive than the average.

Asbestos: $150 – $800

Radon: $200 – $700

Termite: $80 – $120

Septic: $300 – $600

Mold: $200 – $600

What can you expect from a home inspector?

The time required to inspect a house depends on its size, age and general condition. However, completing the inspection can take between two to three hours. The inspectors should carefully examine the structure of the property during their visit.

The inspector often takes notes and keeps them in a notebook. The inspector will draft an inspection report after a thorough inspection and provide a copy within 24 hours or a full week.

These are some of the things you can expect from a standard home inspection:

  • Foundation and Structure
  • Walls
  • Ceilings
  • Roof Inspection
  • Floors
  • Insulation and electrical wiring
  • Cooling Systems
  • Water Leakages
  • Heating System
  • Basement
  • Fireplaces

How do you find a competent home inspector?

Refer to Others:

Ask friends and family who have recently bought property to recommend a company they used for home inspections. This is a great option as you might get their feedback.

Talk to your broker:

A broker can also refer inspectors. They are familiar with the market and often make deals.

Check out these online reviews:

Sometimes, people don’t feel comfortable asking friends, family or agents for referrals. If this is the case, you can research online. To get an idea of the quality of inspector you are looking for, check out customer reviews online.

Compare Reports from Different Home Inspectors

You can also compare inspection reports from different inspectors. This will assure you that all major issues have been identified, and you can also compare the quality of the inspection reports.

Ask multiple companies to compare prices and review reports from previous inspections.

Conclusion:

Home inspections are a great investment. You will get better results if you put in more money. Hire an experienced inspector to do a thorough job. Instead of spending a lot on home inspections, you should allocate funds to this task separately. It will be a good decision.