During the 2021–2022 bidding wars, we saw clients waive home inspections to compete—and some paid dearly for it. One client discovered $45,000 in foundation repairs three months after closing. Another found knob-and-tube wiring that made the home uninsurable. A $500 inspection could have saved them both. What a Home Inspection Covers A standard inspection examines: Common Issues Found Foundation Cracks, settlement, moisture $5,000–$50,000+ to fix Roof Shingles, flashing, age $8,000–$20,000 replacement Electrical Panel, wiring type, capacity $5,000–$15,000 rewiring Plumbing Pipes, water heater, drainage $3,000–$20,000 HVAC Furnace, AC, ductwork $5,000–$12,000 replacement Structure Framing, load-bearing walls $10,000–$100,000+ Exterior Siding, grading, drainage $2,000–$15,000 Cost of inspection: $400–$600. Cost of missing a major issue: $10,000–$100,000+. The Real Cost of Skipping We've seen these scenarios play out with actual clients: Case 1: Buyer waived inspection on a $650,000 home. Six months later, discovered the entire plumbing stack needed replacement: $22,000. Case 2: Pre-construction buyer assumed "new = no problems." The inspection found improperly installed flashing causing water infiltration in six windows: $18,000 in warranty-contested repairs. Case 3: Rural property buyer skipped inspection. Septic system failed within a year: $35,000 replacement. How to Inspect in a Hot Market You don't have to waive the inspection entirely—even in a multiple-offer situation: Pre-offer inspection: Book an inspection before submitting your offer. Costs the same and removes the condition from your offer, making it more competitive. Shortened inspection period: Offer a 3-day inspection condition instead of 5. Most inspectors can accommodate. Inspection for information only: Include a clause that the inspection is for your information—you can't renegotiate price based on findings, but you can walk away if something catastrophic appears. Complete first-time buyer guide What Lenders Care About Some inspection findings can affect your mortgage: Dealbreakers for lenders: Knob-and-tube wiring (some insurers won't cover) UFFI insulation (rare but flagged) Underground oil tank (environmental liability) Major structural damage If the lender's appraiser flags issues, your mortgage approval can be conditional on repairs—whether or not you had an inspection. Specialized Inspections Worth Considering Beyond the standard inspection: When to Get It Sewer scope $200–$350 Older homes (pre-1970) Radon test $150–$250 Any home, especially basements Mold test $300–$500 If musty smells or visible stains WETT (wood stove) $200–$350 If property has wood-burning appliance Well water test $100–$200 Rural properties The Inspection Is Your Insurance Policy Think of the inspection fee as the cheapest insurance you'll ever buy. No matter how competitive the market, the cost of a missed defect always exceeds the cost of the inspection. Buying With Confidence We guide our clients through every step, including inspection strategy. Get Pre-Approved Call (416) 822-7357 Frequently Asked Questions Can the seller refuse to allow an inspection? In a standard purchase, the seller allows inspections during the conditional period. Pre-offer inspections may require seller permission. What if the inspection finds problems? You can negotiate repairs, request a price reduction, or walk away (if your offer is conditional). Each situation is different. Should I attend the inspection? Absolutely. A good inspector will walk you through findings in person and answer questions about severity and cost.
