Buying a home can be exciting but very overwhelming. It's one of the biggest investments that someone will make during their lifetime. This is why it’s important that you know the condition of the property before your closing. This is where home inspectors come in. We assess the home, overlook all its components, and document all of the mechanical or safety issues. But one of the most common questions we get asked daily, is how much do you charge? So today I plan to go over the 5 things that come into play when we are bidding for inspections.
1. Location
The location of the property plays a significant role in determining the price of the inspection. The farther the inspector must travel for the inspection, the more expensive the job will be. For example, most home inspectors have a typical hourly rate that they have in their heads when they try to bid on jobs. Say it's 1 hour travel time, 2 hours inspection, 2 hours report, then 1 hour drive home they figure it’s a 6-hour job total. But if the inspection is 2 hours away, that adds two hours of commuting, plus gas, tolls, etc.… Therefore, the price increases.
2. The Size of the Property
The size of the property is another important factor that influences pricing. Home inspectors typically charge based on the square footage of a home. The larger the property is, the longer the inspection will take, which in turn leads to a much larger inspection report.
3. The Age of the Property
Some inspectors base a portion of their pricing based on the age of the home. This correlates to the fact that a 100-year-old home will presumably have more defects than a brand-new build.
*Optimal Home Inspections does not base its prices based on the age of the property*
4. Additional Services
Many home inspectors provide ancillary services. Some of which include asbestos/mold testing, radon measurement, sewer scopes, or termite inspections.
5. Experience and Qualifications
Just as with any other trade, the experience and qualifications of a home inspector will affect the pricing. Newer inspectors tend to drop their prices significantly, meanwhile, more experienced inspectors with additional qualifications or certifications tend to charge more for their services.