A good inspection
A good home inspector can be a critical part of a real estate investor's "team". I have used the same home inspector for years. He is extremely thorough, and has been in the business for many years.
The areas he checks:
- Foundation
- Crawl spaces (if any)
- Basement floor
- Water supply
- Foundation drainage
- Septic system
- Incinerator (if any)
- Water softener (if any)
- Water heater
- Electrical
- Heat
- Air conditioning
- Plumbing
- Pipe insulation
- Gas line
- Framing
- Wood boring insects (if any)
- Built-in appliances (if any)
- Fireplace (if any)
- Smoke/fire detectors
- Ceilings and walls
- Doorbells
- Windows and doors
- Flooring
- Insulation
- Attic ventilation
- Roof
- Chimney
- Gutters/downspouts
- Exterior
- Grading and Drainage
- Garage
- Lead paint
- Radon
- Mold
As you can see from the extensiveness of the above list, there is a lot to look into when deciding if a property has defects you can either live with, repair, or will be a deal-breaker.
I have learned a lot by reviewing with him the inspections he has done for me, but I don't have enough time in the day to become an expert in everything myself. I use the inspection report to make my purchasing decision as well as for a "punch list" of things I need to repair after purchasing.
Comments (2)
Ethan, inspections generally are based on the size of the house and also the area. A house that's 3,000 square feet, for example, generally takes longer to inspect than something that's 1,000 square feet and therefore will cost more. In the Milwaukee area you're generally looking at around $250-$400 for an inspection unless the house is much larger. (Areas like California or New York might command higher prices.) Also inspectors can offer additional tests such as Radon testing, that come at an added cost. If you do a lot of work with an inspector, don't be afraid to ask for a fixed rate per inspection. I did that with my inspector since I've given him so much business.
Dawn Anastasi, over 11 years ago
What would you consider a fair price to be for an inspection that's this thorough?
Ethan Giller, over 11 years ago