By Keith Boggs
Posted May 10, 2019 at 10:43am
Did you know the average listing price of a home in Frisco is nearly $500,000? And in Dallas, it’s over $600,000! A home is likely the largest investment you’ll make in your lifetime, but there’s a lot of risk involved. Many defects can hide behind walls, under floors, and in the dark corners of attics — termites, electrical problems, plumbing issues… the list goes on and on.
Which is why a quality home inspection is one of the most valuable investments you can make.
The cost of a home inspection is very small relative to the cost of a house. Most home inspections cost less than $1,000 with many closer to around $500. That’s a small price to pay for peace of mind when facing this high-dollar investment. Here are a few more things we wanted to share about the financial aspect of home inspections.
How Much Is a Home Inspection?
For most homes in Dallas, Frisco, Plano, Texas and surrounding areas, the average cost of a home inspection is about $500 to $700.
How is the Price Determined?
Your home inspector will set the price based on a number of factors, including:
- The home’s square footage: Most home inspectors base their fees on the size of the home inclusive of all floors, basements, attics, and porches.
- The presence of certain items on your property, for example, a pool, a spa, or outbuildings.
- The age of the home: Older or historic homes may take longer to inspect, particularly if the home has undergone extensive renovations, which can lead to complicating factors, like hybrid electrical and plumbing systems.
- The local real estate market — if more people are buying homes, home inspectors are in demand and competition can drive prices up.
Who Should Pay for a Home Inspection?
The buyer is usually responsible for paying for the home inspection, and they get to choose their preferred home inspector. This, however, is negotiable. Inspection fees can be wrapped into closing costs if the seller agrees.
Sellers may also choose to do a pre-listing inspection at their own expense to identify any potential defects they can address before putting the house on the market. If they do, they’re required by law to share the results with potential buyers. So, as a buyer, make sure you ask if a pre-listing inspection report is available.
Don’t Choose a Home Inspector Based on Cost Alone
All home inspectors are required to be licensed by the Texas Real Estate Commission (TREC), which indicates a certain level of education, training, and professionalism. Quality, however, comes from experience on the ground. A high-quality inspector will go beyond TREC’s minimum inspection requirements. His report should be longer and more detailed than the TREC’s standard report. He should educate you, make sure you understand the findings, and go the extra mile to make sure you are satisfied.
And remember, you’re not hiring a company, you’re hiring a person. Many of the larger inspection firms hire new inspectors with little field experience. Make sure your inspector has a depth of experience — ideally with inspections in North Texas — to get the most from this small, but extremely valuable, investment in a home inspection.
Image Credit: Hloom Templates
About Keith Boggs
Keith Boggs is the owner of Stonebriar Property Inspections. He is your personal home inspector, and his investment in the company will be reflected in the quality of your inspection. Mr. Boggs’ inspection reports are professional, comprehensive, detailed, and clear. They average about 70 pages and include 80 to 100 color images and include detail findings and recommendations along with tips and best practices for maintaining your home. Stonebriar Property Inspection’s customer reviews speak to Keith’s reputation as an ethical, reliable, and courteous Dallas home inspector. Stonebriar Property Inspections is a proud member of the Better Business Bureau with an A+ rating. SPI is fully licensed by the Texas Real Estate Commission for home inspections and the Texas Department of Agriculture for termite/wood destroying insect inspections.