What are the biggest issues found in home inspections?
Roofs were the top cause for concern at 19.7%, followed by electrical issues at 18.7% and windows at 18.4%, according to porch.com. Other top issues included gutters, plumbing, branches near the roof, fencing, the water heater, driveways and sidewalks, air conditioning and exterior paint. And 46% of buyers used these results to negotiate a lower price on their home, as some of these fixes are costly.
On average, the most costly issues for sellers are a problem with a heater, which lowers the home price by $1,250 on average, while a problematic roof lowers the cost by $1,000 on average.
Eighty-eight percent of homebuyers used a home inspector on their property purchase. Most buyers (83%) used an inspector because it was required by their mortgage lender. However, it was probably in their best interest, because more than 80% of home inspections found at least one issue that needed fixing.
The average cost for an inspector was $377, with the buyer paying for it in 80% of cases. Nearly three-quarters of respondents said they only considered one inspector, while 3% considered five or more. A recommendation from their Realtor® was enough for 58% of people to hire a specific inspector, while 14% relied on a recommendation from a friend or family member.
The report found that using information from the home inspection report, along with possible other factors, saved buyers $14,000 on average, with 37.7% using their Realtor’s® suggested offer. About one-third said they used the estimates from the inspector to negotiate a lower buying price, while 33.6% sought out the cost of repairs for each inspection issue and offered a revised price based on that.