Buying a home is different from nearly any other major purchase. It’s not like there’s an entire history report of what work has been done or what problems you might find.
“There is no CARFAX for homes,” said Todd Willis, a home inspector at Inquest Inspections.
So that leaves questions about whether a home is going for a fair price, on both the buyer’s and seller’s side. Enter home inspectors, who keep an eye out for problems that affect your bottom line. Getting your home thoroughly checked out upfront could save you from expensive repairs down the line.
“From finding termites to electrical issues to on and on, we’ve saved clients thousands of dollars multiple times,” said Andy Cheatham, owner of Parker Inspections of Tulsa.
When Cheatham bought the company nearly three years ago, he says the average inspection was $380. Now it costs around $565, which means Tulsans might be more willing to pay for hopes of future savings.
There are five main parts of a home inspection: roof, structural, electrical, mechanical and plumbing. Checking for termites or potential sewer and septic problems can often come with an additional charge.
Home inspectors are licensed to do a basic look around your home. But if there are specific issues they notice, they can refer you to a specialist. Willis says he’s careful about doing that because he knows it can be expensive.
Both Willis and Cheatham encourage buyers to come to their inspections and suggest sellers do a pre-inspection before the home goes on the market. Jeremy Dye, one of Willis’ clients, says he didn’t want to be surprised ahead of his move to Collinsville.
“Home inspection reports are always going to be very important,” Dye said. “Even if they don’t find anything, there’s some peace of mind to it that they didn’t find anything.”
A pre-inspection is not common, Cheatham says, because a seller has to disclose an issue as soon as it’s discovered.
“They don’t want the liability of knowing what’s wrong beforehand, and would rather just fix the $500, $2,000, $5,000, whatever they’ve set aside for the repair, after,” Cheatham said.
Jennifer Palmer-Sarracino, a real estate agent with Keller Williams Realty Premier, says sometimes they can fold repair costs back into the asking price after a pre-inspection of the home.
So on the buying side, a home inspection can save you from expensive repairs. One client spent $1,600 on an inspection, but avoided more than $40,000 in roof repairs, according to Cheatham. On the selling side, you can potentially get more money in your asking price if you’ve proven any problems found in the home have been resolved.
“It’s good to know what you’re getting,” said Elizabeth Pennybaker, a first-time homebuyer who showed up for her inspection with Cheatham. “You would want to know so you can adjust your offer after you make the initial offer, and so it’s a little more fair to you.”
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