86% of buyers who did a home inspection identified at least one problem that needed fixing.
A home inspection can save you the money you might have to spend on unexpected repairs. Home buyers can use home inspection reports to negotiate the sales price too. Let’s look at how much does a home inspection cost in New Mexico.
What is a Home Inspection?
A home inspection is a non-invasive visual examination of a property. Home inspections reveal the true condition of the property that an untrained eye can miss. Sellers could be unaware of the issues in their property, and while it’s not intentional, it can cause the buyer to end up with a defective house.
Appearances can be deceptive. You don’t want to buy a house just because of the fancy the wallpaper is. What if the foundational wall is exposed to moisture, and you have mold on your new property?
🤌 Home Inspections: Everything you need to know about property inspections
What do Home Inspectors Look for in New Mexico?
A home inspector is a professional who will assess and evaluate the condition of the property.
Types of Home Inspections in New Mexico
Depending on the property’s condition and age, the home inspector will determine if you need to do specialized home inspections. This inspection report can help you escape a contract on a decaying house.
1. General Home Inspection
In a general home inspection, a home inspector looks for:
|1. Exterior Home Inspection||Foundation, Garage, Roof Inspection, Exterior Walls|
|2. Interior Home Inspection||Electrical, Plumbing, Kitchen appliances, HVAC (Heating, Ventilation, and Air Conditioning)|
🤌 4-Point Inspection: Find out if your home needs a four-point inspection
2. Special Home Inspection
A home inspector may recommend specialized types of inspections for a property based on their assessment.
|1. Asbestos Inspection:||Check the suspected presence of ACM (Asbestos-containing material)|
|2. Radon Inspection:||Assess the home for the presence of radon gas which is a highly toxic material|
|3. Lead-based Paint Inspection:||Recommended for old homes, especially ones built before 1970|
|4. Termite Inspection:||Check the house for wood-loving organisms like termites, pests, etc.|
|5. Mold:||Assess the house for mold or moisture|
|6. Chimney Inspection:||Evaluation of chimney to determine if its usable or not|
How Much is a Home Inspection in New Mexico?
The cost of a home inspection ranges between $200 – $500 in New Mexico, with an average cost of $350.
Prices may differ regionally and also depend on factors like the age of the property and the size of the property.
Cost of a Home Inspection
A general home inspection can cost around $100 to $500, depending on the size of the house.
|# No||Home Size||Home Inspection Cost Per Square Foot|
|1.||Less than 1,000 sft||$100 to $400|
|2.||1,000 sft to 2,000 sft||$400 to $500|
|3.||More than 2,000 sft||$500+|
🤌 Additional Home Inspection Costs: Inspectors charge extra for specialized home inspections. The home inspector may also charge for transportation if your house is remote or difficult to reach.
Cost of Special Home Inspections
Specialized or specialty home inspections can cost between $25 to $500, depending on the type of inspection.
All homeowners should consider getting the termite inspection done. It also depends on your geographical location. You might need multiple foundation-related inspections in cold-weather areas like Washington, Illinois.
In contrast, if you buy a property in flood-prone areas of Florida or Texas, you will need the flood-risk inspection/assessment.
Cost of Reinspection After Repairs
A re-inspection is done to verify whether the issues identified during the first inspection have been fixed. The home inspector will only check the areas tagged for repairs this time.
Home re-inspection costs can vary, but the average is usually $50 to $100.
🤌 Cash for Ugly Houses: Distressed sellers lack the motivation to do the repairs identified in the house inspection and may eventually sell to a cash home buyer.
Home Inspection Cost Estimates in New Mexico
|Home Inspection Type||Inspection||Average Price of this Home Inspection|
|Exterior||1. Foundation||$300 - $1,000|
|Exterior||2. Garage||$200 - $600|
|Exterior||3. Roof||$75 - $200|
|Exterior||4. Exterior Walls||$200 - $800|
|Interior||1. Electrical||$150 - $200|
|Interior||2. Plumbing||$180 - $225|
|Interior||3. Kitchen Appliances||$200 - $400|
|Interior||4. HVAC||$100 - $400|
|Specialized||1. Asbestos||$229 - $791|
|Specialized||2. Radon||$145 - $700|
|Specialized||3. Lead-based Paint||$250 - $700|
|Specialized||4. Wood-destroying organisms or Termite||$230 - $930|
|Specialized||5. Mold||$200 - $1,000|
|Specialized||6. Soil||$700 - $2,000|
|Specialized||7. Chimney||$300 - $600|
1. Forbes: https://www.forbes.com/home-improvement/
2. Homeadvisor: https://www.homeadvisor.com/cost/
3. Homeguide: https://homeguide.com/costs/
4. Fixr: https://www.fixr.com/costs/
Who Pays for the Home Inspection in New Mexico?
The homebuyer typically pays for the home inspection in New Mexico.
The house inspection cost is included in the buyer’s closing costs, but this cost is paid at the time of the service.
🤌 Sellers Paying Inspection Fees: If a home seller does a pre-inspection, they incur the house inspection cost.
Do New Homes Need an Inspection in New Mexico?
Yes, new-construction homes should be inspected. The newly constructed property may not have cosmetic flaws or wiring issues, but it’s still uninhabited and brand new.
The structure and foundation, plumbing, and HVAC should be evaluated. Contractors and sub-contractors that work fast only follow the bare minimum requirements of house building. It is possible that an issue with your new property exists because it is a new construction!
Do not assume that a new home will be unblemished!
How to Choose the Right Home Inspector in New Mexico?
Only a credible and diligent home inspector can identify the flaws in your property. Before scheduling a home inspection, you should check out:
- Home Inspector’s Credentials: Check if your home inspector is licensed and whether they are a member of ASHI (American Society of Home Inspectors) or NACHI (National Association of Certified Home Inspectors)
- Training and Experience: How many certifications have they done? How many homes were inspected in their tenure? Do they perform specialized home inspections?
- Pricing: Verify if the home inspector is charging as per the average house inspection costs in your area. It is likely that an experienced inspector may charge more for inspections.
- Quality of home inspection reports: Is the inspection report detailed and specific? How meticulously has the home been inspected?
Do You Need a Home Inspection?
Yes, you need a home inspection!
Buying a house is probably one of the biggest transactions of your life. A home inspection gives you a preview of the house you will move into, and the average cost is just $350 in New Mexico. You can save yourself unexpected repairs in the future!
Home Inspection reveals potentially life-threatening issues in a house. As a home buyer, you can negotiate with the seller to fix the issues identified in the home inspection report.
Recommended Articles for Buying a House
- How to Buy a House in New Mexico
- Best Time to Buy a House in New Mexico
- Best Mortgage Lenders
- Mortgage Brokers in New Mexico
- How to Sell My House Fast in New Mexico: Selling a house in New Mexico takes approximately 90 days from list to close. Check out our guide if you’re interested in selling your home faster than 90 days!
- Selling a House in New Mexico: Selling a house in New Mexico is complex and requires a good understanding of the real estate market.
- Closing Costs: Find costs associated with buying or selling a house & whether you can negotiate them.
- Closing Costs for Sellers in New Mexico: What are the closing costs as a seller in New Mexico? See the real cost and how you can negotiate your closing costs as a seller.
- Closing Costs for Buyers: Check out real costs related to buying a house and see if you can negotiate your closing costs as a buyer.
- Best Real Estate Websites in New Mexico: Check out our list of the top 12 real estate websites in the U.S.
- For Sale By Owner Websites: Sell by owner and save 3% listing agent commission NOW!
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