Question: Is it a good idea to have a home inspected by a contractor prior to purchasing it?
Answer: It's a very good idea to have a home inspected thoroughly by a licensed contractor or by a home inspection service prior to purchase. The fee usually is $150 to $200.
Many lenders require this inspection before granting a home loan. The American Society of Home Inspectors (ASHI), in Washington, D.C., suggests that the firm you hire to make an inspection not be the one to repair the problems it might find. This ensures impartiality of an inspection and the estimated cost of repairs.
Q: I am thinking of having a sizable amount of repairs and remodeling done on my home. However, I am not certain that I would be able to recover my money when I sell the house. Should I only have those repairs done that are economically feasible?