No home is perfect. About 86% of home inspections will find something that needs to be fixed, according to a study on home inspections from Porch.com, a home improvement website.
A home inspection can cost around $300 to $500, but studies estimate it could save the buyer an average of $14,000. A home inspector will evaluate the roof, ceilings, walls, floors, windows, doors, major appliances, heating and air conditioning systems, plumbing and electrical systems, and more, according to the Inspection Support Network, a software solution for the home inspection industry.
Yet, as bidding wars heat up in a hot housing market, more buyers are waiving home inspections in order to make their offer stand out. Last June, the real estate brokerage Redfin reported that nearly 20% of buyer offers submitted by their agents waived the inspection contingency.
The following are the most common issues found in home inspections, according to a survey of nearly 1,000 home buyers:
Other concerns also found in a home inspection included branches overhanging roofs (13.3%); fencing issues (12.6%); water heater problems (12.2%); and air conditioning malfunctions (9.9%).
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