How much should I pay for a home inspection?

Q: Gerald, as we continue to search for a house, we’ve decided to take your advice and pay for a home inspection. How much should we pay for a home inspection? Brook, Flanders, NJ

A: Brook, you’re smart to get a home inspection. The cost of doing a home inspection will vary from place to place, but I’ve found throughout the US, most home inspections cost between $350 and $550. I’d shop around, but the experience and competence of the inspection company is more important than the cost.

I’ve been investing in real estate for 15 years and I still pay for home inspections when I buy just to benefit from another set of eyes. You may be able to get by without doing a home inspection, but I don’t think it’s worth the risk—pay a few hundred dollars more for the peace of mind it’ll give you.

Thanks for your question, Brook, good luck!

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I’m Gerald Lucas and I’ll see you again soon.