Did you know that one in four U.S. adults said that they moved within the country in the past five years? In fact, it’s estimated that the average American moves house more than 11 times in their lifetime.
Moving house can be exciting and rewarding, but it can also be expensive, especially if you aren’t aware of all the costs. Before you move, you will need to think about the cost of a down payment on the property, closing expenses, mortgage insurance, and building inspections.
Discover our guide on what a building inspection is and how much building inspection costs, so you can be prepared before you choose your dream home.
What is a Building Inspection?
Building inspections are designed to give buyers peace of mind before purchasing a house. You wouldn’t want to buy your dream home, only to find out several months later that it needs to have costly repairs completed. Building inspectors are licensed professionals who examine the condition of the building and provide a detailed report about the property.
The report will show you any defects in the property, or any hazards that need to be mended. Common inspection checks include:
- doors and windows
- roofing and ceilings
- retaining walls
Your inspector might also look for any illegal additions or alterations to the home. As well as common checks, they might give you a detailed list of any potential problems that you should keep an eye on in the long-term.
In addition to a building inspection, other homeowners have pest inspections conducted too. This isn’t included in a building inspection but is important as rodents, termites, and other unwelcome bugs may be causing damage.
Who Should Get a Building Inspection?
Property inspections are often conducted before someone buys a new home. They can also be completed before you sell your property, so you know the value of it or if you should do any repairs before selling. A building inspection can also be done on your current home, even if you don’t want to sell it but just want to know the condition it is in.
Those who are thinking of buying a new home often arrange a building inspection before signing the contract. This allows the buyer to fully understand the condition of the property and to be made aware of any repairs.
Alternatively, the inspection may be part of the contract. And if so, will be conducted within a timeframe before you’re able to withdraw from the contract. If the property is a new-build then you should also get a handover inspection.
For those looking to sell their property, a building inspection can help to show you any problems with the home. This may then be used to value the property and you can decide whether to fix it or not. Performing repairs on your home may help to increase the resale value of the property, which means you get more money.
Some homeowners who don’t want to move also have their property checked using a building inspection. This may be useful if you want to make home improvements, or if you want to add more value to your home.
How Much Does a Building Inspection Cost?
Many people worry that buying and moving costs start to add up, so a very important question is how much do building inspections cost?
The cost of a building inspection can vary, depending on a variety of factors. Low-cost building inspections can start from $200, while high-cost inspections may cost in excess of $1,000. (In addition, a pest inspection costs around $150.)
The building inspection cost for an average-sized house is around $500-$750.
What Factors Influence the Cost of a Building Inspection?
There are several factors that may influence the cost of your inspection, including your location, the type of property, the size of the property, and the type of inspection.
The house’s location will play a big role in the cost of the inspection. To keep these costs down, shop around, and ask for building inspection cost quotes from several businesses.
The type of the property might also affect the overall cost of the inspection. This is because a 2-bedroom apartment has less square footage than a 4-bedroom house, so it will take less time to inspect. The position of the property might also lead to higher or lower costs, for example, apartments above the first floor might not need a pest inspection.
As mentioned, the size of the property will also influence the cost of the inspection. Larger properties will take longer to inspect and thus cost more.
The type of inspection will also influence the cost. For example, if the building inspector specializes in more areas (such as plumbing and gas) then they will be able to perform a thorough inspection themselves. This will of course cost more, but it may be cheaper than having to hire a plumber or electrician as well as a building inspector.
Another building inspector factor that might influence the cost is if they offer inspection packages. Some building inspectors have packages that cover all of the homeowner’s needs, such as building inspection and pest inspection. This will help to save you money, so always make sure you ask about their packages.
Find a Building Inspector for Your Next Move
Follow our guide about building inspections and discover how much building inspection costs for your home. Remember that to keep costs down you should get several quotes from businesses and ask them about their packages.
Once you’ve had your property inspected and are ready to move in, don’t forget to check out our other articles all about home improvements and decor ideas.