How Important is a New Home Inspection?

by Administrator 29. February 2012 11:57

When shopping for a new home, it's easy to get drawn in by what you may consider the perfect house. Finding the perfect house, in your ideal price range, located in your dream neighborhood can cause you to overlook minor details and run forward to submit an offer and secure this perfect home. But after the shininess has worn off and it's time to get home insurance coverage, you may regret this impulsive decision.

Instead of giving in to the desire to own the home of your dreams, take the time to have a new home inspection completed. Even if your home is of completely new construction, a home inspection can save you time, money, headaches, and risk.

Types of Home Inspections


There are many different inspections that can be done on your new home. In order to get the most comprehensive inspection and the most thorough understanding of the condition of your home, a new home buyer should consider a general home inspection, a termite inspection, a radon test to check levels of this unscented, cancer-causing radioactive gas, a septic system inspection (when a septic system is present), and, when appropriate, an oil tank testing.

Each of these inspections will give you a difference assessments regarding the health of your hew home. You may think that it’s enough to simply get a general inspection, but each of the specialized inspections mentioned above allow for a deeper look at areas that can be the source of major potential problems.

The Cost of Home Inspections

Home inspections cost both time and money, and that can lead many to skip them, conduct their own, visual inspection and hope for the best. But when you consider the benefit of professional inspections and weigh them against the actual cost and time involved, you will see that the cost is far outweighed by the benefits.

Generally, you can expect to pay between $300 and $500 for an inspection. The Housing and Urban Development (HUD) website also states that that price can be variable depending on the size of your home and its age since older homes may need more thorough examinations. Each inspection will generally take two or more hours, again, depending on the size of the property.

But to help ensure the safety of your family and the security of your financial investment, the price and time commitments are more than worth it.

The Effect of an Inspection on Insurance

Your home inspection will illustrate deficiencies in your electrical system and plumbing. It may also indicate water damage that exists but isn't immediately visible. It may show signs of an insect or termite infestation, and could illustrate problems with your septic tank, water heater and other important appliances. Since some of these problems can create a high-risk situation for perils covered by your home insurance policy, a new home inspection could result in certain improvements being made before you buy the home that will prompt a lower insurance premium once you own it.

Because the age of your home is taken into consideration when you apply for home insurance policy, it can also be part of the reason for a declined application. By completing certain home improvements on the property based on the results of your home inspection, you might ensure that your home insurance policy is approved after all.

To get insurance quotes on your current home or on the home you are considering buying, give us a call at (254) 547-2381. We can help you discover what your potential home insurance rates might be and assist you in setting reasonable limits based on your risk and budget.

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