Home inspection recommended for Chicago residents
Buying a new home is one of the biggest decisions a Chicago resident will make. It can also be one of the most expensive — especially for buyers who discover poorly patched leaks, undiscovered insect infestations and hidden decay.
It’s always worth the extra time and money to bring in a home inspector to flush out sloppy electrical splices, stuck doors and windows, cracked foundations and other expensive fixes lurking beneath the surface. Many lenders actually require a professional inspection, but even if they don’t, it’s best to get an independent inspection whether the home is 100 years old or brand-new.
For buyers, the results of an inspection often are grounds for revising the terms of the purchase contract. That’s why it may be beneficial for sellers to order an inspection prior to putting a home on the market. A thorough home inspection will provide transparency for both parties involved.
Many people hire an inspector suggested by their real estate agent. However, the Independent Home Inspectors of North America considers this a conflict of interest because many inspectors pay the agent for the referral, meaning the report could be skewed toward a result that leads to a sale.
Consumers should ask for a report that details the condition of the various areas inspected, not just a checklist labeling them good, fair or poor. That way, there will be a clear idea of what needs to be repaired and how soon.
According to IHINA, the cost of an inspection should vary according to the size of the home, which determines the amount of time it takes to do a thorough check. Most inspectors charge a minimum fee but set a rate of about $100 per hour.
In Chicago, all home inspectors must be licensed by the Illinois Division of Professional Regulation. The license requires applicants to complete 60 hours on courses, and to pass the Illinois Home Inspector License Exam.