The Cost of Skipping a Home Inspection
Not getting a home inspection can save a few hundred dollars upfront but risks tens of thousands in unexpected repairs for issues like foundation problems, faulty wiring, mold, or roof damage, while also eliminating negotiation leverage and potentially complicating securing insurance, making it a financially risky gamble for potentially huge future costs.
The true cost is the uncovered major defects that you'll pay for out-of-pocket after closing, plus lost opportunities to negotiate price or credits, or even walk away from a bad deal.
Potential Costs of Skipping Inspection:
Major Repairs: Discovering issues like a failing foundation ($50k+), mold, or major electrical problems after purchase, all at your own expense.
Safety Hazards: Missing hidden dangers like radon, infestations, or structural weaknesses that jeopardize your family's health and safety.
Lost Negotiation Power: Forfeiting the chance to ask the seller for price reductions, credits, or repairs for discovered defects.
Insurance & Mortgage Issues: Lenders or insurers might require repairs before approving coverage or funding.
Reduced Resale Value: Hidden defects can make the home harder to sell later or lower its appraisal value.
What You Save vs. What You Risk:
Savings: Around $300 - $500 for the inspection fee.
Risks: Paying for extensive repairs (potentially tens of thousands), health issues, insurance complications, and losing negotiation leverage.
In short, skipping an inspection is like buying a used car without checking under the hood, you might save the inspection fee, but you could end up with a lemon that costs far more in the long run.
