How much should a home inspection cost?

Question

Hello,

I am starting out of state flipping, and to do that i would like to know how much my renovation would costs and what is needed to be changed. How much should a home inspection cost? and how can i make that inspection report a basis for the scope of work i will have contractors bid on?

Eliott Elias · Answer

5-$800

Bruce Woodruff · Answer

I would not rely solely upon the H.I.s report for your SOW. I would give it to your GC and have him critique it and enlarge it as necessary. Even the best  H.I.s will not be looking for the things you want in your renovation or remodel.

Bruce Woodruff · Answer

Of course there are bad inspectors, I met many during my time in the trades. But you are urging people to be foolish.

So you can open an electrical Main Panel and read it, and judge it's condition with your little tester? You climb on the roof and check the secondary flashing? You go into the attic and assess the condition of the collar ties? I didn't think so.....

Just find a great Home Inspector and pay him $500, best money ever spent. Better if he/she is a General Contractor or PE....

Andrew Syrios · Answer

Generally like $400-600. A bit more if you include a pest and dry rot inspection (and maybe a bit more for you because LA is a very high cost place to live and everything is more expensive).

Lisa Wright · Answer

It depends on square footage here (metro detroit).  I have a guy who I love his work.  And a second guy who does the sewer scope.  For both, so far, it's been less than $500.  And my guy stopped an inspection mid way through because the house was trash and offered half off the next inspection because I was buying.

When I bought my current house my usual guy was busy so I used one my realtor recommended.  He missed so much.  I wish he would have just put in for an extension for the inspection to wait.  If I knew then what I know now.

Also, I'm working on buying a rehab and it is a mess.  From the tour I noted a lot of what needs to be done.  So during my inspection period I'll be having my fav contractor come in as well as my hvac guy.

Your inspection period is your due diligence period.  So in that time you need to look at everything.  Calculate what the taxes will be when it uncaps.  See if there is a pervert in the area.  Check out schools and crime rates.  Bring in people to give you an estimate on issues you think will be $$$.   I used the bigger pocket reno calculator here and I think it is tagging the work low.  But hoping its spot on.

Bruce Woodruff · Answer

I used to do Home Inspections in Cali and the cost for a basic 2000 SF house would be about $450 or so. Maybe more now. Give that report to a good GC and have them develop a SOW and budget from it.