In recent times, you’ve probably seen headlines about how wild the housing market has gotten. It isn’t uncommon anymore, homes selling for way over their asking price. This comes as exciting news if you’re looking to sell your home, right? However, before any transactions are done, one important step is home inspection.
But what if you could skip these hurdles? With iBuyer.com, you can sell your home quickly and easily with a fair cash offer, avoiding the stress of inspections and repairs.
That’s right, having your home inspected by qualified professionals can either make or break a real estate deal. Once you understand this, you’ll evade headaches that are often commonplace when it comes to buying and selling homes. Before listing your property on the market, a thorough home inspection can uncover any potential issues and give you peace of mind.
Addressing any issues identified can prevent delays in the sale process and increase the likelihood of a successful transaction.
You might be wondering how much getting a professional home inspector in Maryland will set you back financially. Like most states, the cost of home inspection in Maryland isn’t a standard round figure, but varies due to several factors. Even so, the average cost varies between $300 and $650.
When considering the cost of home inspection, you need to understand what goes into home inspection and the factors that make the cost vary. Let’s get right to it!
Table of contents
Compare Cash Offers from Top Home Buyers. Delivered by Your Local iBuyer Certified Specialist.
One Expert, Multiple Offers, No Obligation.
Understanding Home Inspection
Before we get any further, what is a home inspection? A home inspection is a non-invasive safety and quality assessment undertaken on a property usually before sale. It involves examining multiple aspects of the home from the exterior, interior, structural aspects, heating, cooling, plumbing, electrical aspects, among others.
A home inspection report will indicate all the inspector’s findings of everything that was found faulty and those found operational.
When doing any transactions involving buying and selling a home, an inspection is vital. This ensures that any defects are not passed on to the buyer and any serious repairs that might be needed are unearthed early enough. Some property owners and buyers might want to bypass this process, but it’s usually a terrible idea which will most likely leave you with a rude shock.
What Factors Influence the Cost of Home Inspection in Maryland
When budgeting for home inspection, here are a few factors that will influence the cost.
The Size and Type of the Home
Bigger homes will typically take more time and expertise to inspect, meaning that it will cost more compared to smaller homes. A five-bed single family home will cost more to inspect in comparison to a cozy two-bed condo.
Nonetheless, the location will also influence the cost since inspections within metropoles cost higher than the suburbs. Home inspections in areas such as Baltimore, Hartford, Montgomery and other metropoles with desirable real estate will cost slightly higher.
Age of The Home
Properties that have been around longer will often cost more when they are inspected. They usually need a keener eye when compared to newer structures. The wiring and plumbing in older homes will need to be inspected thoroughly hence an inspector will charge more.
More work = more time = higher fees. It’s just basic math
Specific Inspection Requirements
Outside of the normal home inspection rate that covers the structural aspects and system functionality, if you want more specialized inspection services then you might be forced to dig a little deeper into your pocket. You’ll also need to schedule earlier for specialized services such as radon testing, mold testing, termite, etc.
What are The Common Inspection Services?
A typical full home inspection will cover the structural and functional aspects of a home. Here are some of the things that an inspector will look at:
Interior and Exterior Walls
The condition of the interior and exterior walls is one of the first things that an inspector will look at. If there’s any signs of cracking or chipping then this might mean that there’s a bigger underlying problem. This will negatively influence the sale of your property.
Roof Condition
Home inspectors will check the condition of the roof and establish whether there are any leaks. Slow roof leaks might take years to become apparent to the homeowner but a storm might cause a sudden leak in the roof that anyone can see. A leaking roof will most definitely lower your listing price.
Plumbing Systems
Signs of water inside a structure is usually a huge concern for homeowners. Water damage can cause both structural and health hazards. Water leaks can cause mold to grow and rotting of wood which over time will make the home unlivable. Water can also cause foundation damage and compromise the structural integrity of a home.
Electrical Systems
Home inspectors will check for any electrical faults during a home inspection. Although most electrical issues can be easy and inexpensive to handle, they may be deadly if not taken care of immediately when a fault is identified.
HVAC Systems
Heating and air conditioning systems are also one of the areas that home inspectors report. Homes with a fully functional HVAC system with no faults will attract higher offers especially in the Maryland area.
Basement and Foundation
The structural soundness of your property will also greatly have a toll on the value of your home. Anyone buying a home will obviously want one with a structurally sound foundation and basement. Repairing foundations and basements often cost an arm and a leg, and no-one wants to deal with that after purchasing a new home.
According to the American Society of Home Inspectors (ASHI) a complete home inspection should also cover:
- All windows and doors
- Chimney and Attic (if any)
- Visible insulation
- Fireplace (if any)
- Any appliance that might be included in the sale of the house
The cost for a home inspection will range anywhere between $300 and $650.
What Special Inspections Might be Needed?
During an inspection, the home inspector might discover something that’s outside their area of expertise and requires specialized inspection services. These usually come at an additional cost on top of the standard inspection cost. The rates for these services will vary from one company to another. Here are a couple specialized inspection services that you might need:
- Radon Testing
- Mold Testing
- Asbestos Testing
- Termite Inspection
- Lead Testing
Any specialized inspection service will come as an extra expense and will cost anywhere between $90 and $250.
In addition to the above examples, you might also involve a structural engineer or a foundation expert if an inspection unearths that there’s a structural issue. A specialist can advise on the best way to handle the repairs and recommend any fixes. The cost for this specialized service will also vary.
Home inspections can prevent costly future repairs and expose any issues early enough. Still, if you’re on a tight budget and want to sell quickly on cash, then iBuyer.com has you sorted.
What Role Does Home Inspection Play During Price Negotiation?
It is important for buyers and sellers to perform a home inspection before proceeding with any sale transactions. Home inspections can unearth issues that might often be overlooked. When negotiating the price of a property, a home inspection can have a significant impact on the close of a sale.
A buyer can negotiate a lower price if there are any significant problems discovered from a home inspection. They may also request the homeowner to make repairs prior to closing the deal. At the same time if an inspection reveals that a property is in bespoke condition then its listing price will go higher.
It’s a necessary evil in the real estate game, and a step that you cannot escape when buying or selling property traditionally.
State Regulations Concerning Home Inspections
The state of Maryland requires that home inspectors disclose any professional qualifications and the scope of inspection. The law also requires that home inspections are conducted according to set standards of practice by ASHI or National Association of Home Inspectors (NAHI).
When choosing a home inspector, ensure that they disclose all relevant information and provide any necessary licenses and certifications. Ensure that you snoop around and look for referrals, find out what other clients are saying about your home inspector. Moreover, don’t be afraid to get multiple quotes from different inspectors. It’s only then you can get one within your budget offering the services you need.
Conclusion
A home inspection can give insight into the condition of a property and save you costly future repairs. It is a vital step in buying and selling property in Maryland and even countrywide.
While home inspection fees can vary, the average cost for professional services is between $300 and $650. This price might be higher for unique properties which will usually need more expert inspection. Therefore, you need to choose a home inspector based on the kind of property you have.
We hope that at this point, you have more in depth knowledge concerning home inspections from this guide. On the other hand if you would like to sell your property for cash and skip the entire process, iBuyer has you covered.
Instant Valuation, Confidential Deals with a Certified iBuyer.com Specialist.
Sell Smart, Sell Fast, Get Sold. No Obligations.
