As you are budgeting for what costs you'll incur as a home buyer, don't forget to include a home inspection. Most inspectors want to be paid at the time of service, however, a few will allow you to put the costs on the closing statement under special circumstances like having an FHA loan or a lot of seller paid closing costs. Typically the cost is between $250 and $450 depending upon the inspector as well as the size, age and cost of the home.
Even when purchasing new construction, a home inspection can be dollars well-spent. A home inspector may find a shortage of insulation or an attic vent that hasn't been cut out. The new construction offer-to-purchase should allow you to reserve the right to have a home inspection and a good builder won't mind you having that done.
On existing construction, a home inspection helps to ensure that you are purchasing the home you think you are buying! if the home inspection uncovers flaws within the home that weren't disclosed you should have an opportunity to negotiate repairs or to void the contract depending upon how your contract is written. It's important to discuss those details of what will happen with your inspection with your buyer's agent (and another great reason to have your own buyer's agent) at the time you make your offer to purchase.
Since the summer of 2006, Kentucky has required home inspectors to be licensed. I can provide you with a list of licensed inspectors and help you make the right choice for your home purchase.
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