Home Inspection and Appraisal Fees
Home inspectors and appraisers charge a flat fee of $350 on average to check for faults and complete the home valuation process, respectively. These base fees apply to single-family homes of up to 2,000 square feet. The price goes up by $25 for every 500 square feet after that. Appraisals on multi-family homes range from $600 to $1,500. Specialty inspections cost anywhere from $100 for brief asbestos checks to $3,000 for extensive soil tests.
Property Inspection Prices
Basic home inspections cost $200 to $500, but most homeowners spend closer to $340. Most inspectors use a flat rate fee, but some may charge hourly. Expect to pay at least $100 per hour for about two to four hours when playing hourly.
The total depends on the home size and age, experience level of the inspector and how long it will take. An extra mileage charge may apply to properties in rural areas. Inspectors charge a separate rate for their specialty inspections, like radon checks.
A roof inspection costs $215 on average, but most homeowners pay $120 to $315. Inspectors use camera drones for roofs that are hard to get to, costing you up to $400. Expect to pay up to $600 for drone inspections that use thermal imagery to check the insulation.
A basic inspection involves climbing up to the roof and looking over the shingles, chimneys and gutters. A general roof inspection takes anywhere from 45 minutes to several hours.
Professional toxic mold inspections cost $300 to $1,015 depending on your home size and location. It’s possible to get a $40 DIY testing kit, but it’s better to hire a professional to check for toxic and non-toxic mold. Either way, you still have to pay for remediation services if the inspection reveals toxic mold growth.
Expect to pay $500 on average for the cost of an asbestos inspection. The total can reach $2,000 for large dwellings or ones with lots of hard-to-reach areas. Asbestos removal costs extra and usually falls in the $2,000 range. The price of the inspection includes a visual check, collection of suspect material, lab testing and a written report.
The price of a radon gas inspection falls in the $150 to $750 range. You can get a DIY test for around $30, but hiring an expert to check for health hazards can provide true peace of mind. Expect to pay an extra $1,000 on average for remediation services, like installing radon vent fans.
Indoor Air Quality
Indoor air quality inspections cost $300 to $575. The total depends on the size of your home and analysis type. Checking for all pollutant types is generally between $400 and $1,000. Expect to pay $300 on average to pay a professional to check for specific pollutants. The price goes up for homes larger than 2,500 square feet.
Lead paint inspection prices are in the $230 to $415 range. Checking the soil and water for lead adds up to $300 to the total. The basic inspection involves checking painted surfaces inside and outside the home. Outbuildings are usually extra. Expect to pay $1,300 to $5,650 more to cover the cost of lead paint removal, if needed.
The price of soil testing is around $1,325 on average. Large properties can cost up to $3,000. In residential inspections, experts look for pollutants that could impact land values and your health. New construction soil tests may also focus on the stability of the dirt.
Cost of Hiring an Appraiser
The national average cost of an appraisal by a licensed professional is $350, and it takes roughly two hours to complete. Appraisals reveal the fair market price of the property. Many mortgage lenders insist that you get an appraisal done to confirm the property value before buying or refinancing.
Cost of Home Inspection and Appraisal
You may need to pay around $915 total for an appraisal and home inspection when using a home loan to buy a property. Otherwise, the lender may not sign off on the purchase.
Inspections vs. Appraisals
Inspections tell you about the condition of the dwelling, all outbuildings and the surrounding land. Appraisals, on the other hand, pinpoint the fair market value of the property. A survey shows you the property’s boundary lines, which don’t always align with your fencing.
The price of a home warranty is $225 to $1,725. You have to first pay for an inspection before signing up for this type of coverage. The warranty company then pays for any repairs that come up during the coverage period, barring anything noted during the inspection.
Are a home inspection and appraisal the same thing?
No, they are not the same thing. A home inspection lets you know about any faults in the structure or land that might need repair. An appraisal lets you know how much your home is worth on the local market.
Who pays for the appraisal when selling a house?
Homebuyers usually pay for the appraisal to meet their lender’s terms and make sure the home is worth its listed price. Sellers can get an appraisal before listing the house to settle on the right asking price.
Who pays for the home inspection in a home purchase or refinance?
Homebuyers pay for the home inspection when buying a property or refinancing their home loan.
Are an inspection and appraisal included in closing costs?
You can pay for the inspection and appraisal ahead of time or with the rest of the closing costs. Carefully read the closing disclosure to see what payments are still due to make sure you don’t pay double.
Is the home buyer present for a home inspection?
Homebuyers should show up for the home inspection to get their full money’s worth. They can ask the inspector about any existing faults and its upcoming maintenance needs. If they cannot make it, that’s okay. The inspector will send over a written report.
How does one become a house inspector?
House inspectors must take pre-licensing classes and pass an exam to start their career. Then, they must get licensed by their state and sign up for liability insurance. After that, they just have to either start marketing their services or apply for jobs in the industry.