By Barry Stone
Dear Barry,
Now that I'm preparing to buy a home, I have three basic questions regarding home inspection: When should a home inspection be performed? How much time does it take? And how much does an inspection cost? --Bobby
Dear Bobby,
The time to schedule a home inspection is immediately after the purchase contract is signed. Once you have an accepted offer, the choice to have a professional inspection is your first major decision. If you elect that option, your contractual obligation to complete the purchase is contingent upon your acceptance of the home inspector's findings. From that moment until the inspection contingency is waived, the sellers are holding their breath over this issue, waiting to see if you are committed to the deal. Therefore, time is of the essence.
The typical duration for a home inspection is about 2.5 to 4 hours, depending upon the size, complexity, and general condition of the property. A quality inspection will rarely take fewer than 2.5 hours. Exceptions would include moderately sized condominiums and mobile homes.
The inspection report should be ready within 24 hours of the inspection, although many inspectors are able to produce a written report on site, at the conclusion of the inspection.
Finally, the cost of a quality inspection should be around $250 to $300 for an average size home. For a large residence or a property with additional units, the inspection will take more time, and therefore, the cost will be more. But whatever you do, don't make the mistake of price shopping. Bargain inspections are no bargain. In most cases, they do not provide thorough disclosure and can cost you thousands of dollars in unreported defects. Let your priority be quality. Make sure that you hire the most thorough and experienced home inspector in your area, someone with a reputation for comprehensive detail.
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