Looking at a home inspection report can be downright scary.
It may cause you to think you've just purchased the dreaded "money pit".
Rest assured that every home (even new builds) will have plenty of defects. Nationally, Spectora reports find an average of 31 defects. It's your home inspector's job to point out anything that requires correction, upgrading or repair.
To ease your mind, here are 7 common items seen on a home inspection report and the approximate cost to remedy them.
Most homeowners do not have their AC & Furnace regularly cleaned or serviced, so expect this item to pop up. An HVAC technician will check air filters, fan blades & motors, drain pipes & evaporator coils to ensure they are clean and working properly.
The Cost: $100-$300*
Leaking or outdated polybutylene pipes are very common in older homes. These should be replaced with copper or PEX piping.
Rust, poor water pressure, slow drainage, & failed seals all are typical to see in an inspection report.
The Cost: Updating one sink could cost as little a $200, while updating an entire house with copper piping could cost as much as $10,000.*
Broken, warped or missing roof shingles is very common. Flashings are also a typical item that can be damaged or missing. A new roof usually isn't in order, just a proper patch/replace job from a licensed roofer.
The Cost: As little as $200 or as much as a couple thousand. If a quote gets higher than that, full roof replacement might make more sense.*
The ground surrounding the base of the home should slope away to prevent water from entering the basement or causing foundation problems.
A qualified excavation or waterproofing contractor will fill or compact the material around your foundation so it slopes a sufficient distance from your foundation. A proper gutter & drainage system could also be a complementary solution.
Some cracking & settling is common on driveways & foundations, but your inspector or foundation specialist will let you know if it requires further investigation.
The Cost: $1,500 for site grading, $500 for minor cracks in driveway or foundation*
Many homes lack sufficient insulation in the attic, causing inefficient heating & cooling. Roof soffits being blocked or lack of additional roof vents can cause poor ventilation.
An insulation or roofing professional will replace or add additional insulation, or cut out proper ventilation. This can lower your heating and cooling costs by as much as $600 per year.
The Cost: $1500*
Many older homes have upgraded technology & appliances, but don't have the amperage necessary to power them. This can cause serious safety hazards if not upgraded. Faulty wiring is also very common.
A licensed electrician will install the panel & ensure wiring and power supply are up to code.
The Cost: $1000-$2000*
These 3 environmental hazards can cause major health issues. Homes in certain parts of the country should always test for Radon. Homes built before 1978 could have lead based paint risk. Improper bathroom van ventilation can also cause mold in the attic or crawlspace.
A qualified radon mitigation system can be installed by a pro, or a mold remediation company should be called for areas over 100 square feet.
The Cost: $1000 for radon mitigation system, $500-$5000 for mold remediation*
Buying a home is scary. Not knowing what is a priority is a common problem.
Your inspector, agent and Spectora report should guide you as to what is a major issue and what can wait.
Your report should also guide you on qualified professionals to call to start getting quotes on what you can afford to do now!
*Costs are gathered from various sources online that collect national averages based on customer reports.