How much do home inspectors make?
A home inspector makes an average of $61,000 per year. The home inspection industry is profitable but can be dependent on the housing market when it comes to demand. Housing will experience ebbs and flows, impacting the average home inspector. Factors like mortgage interest rates and housing inventory can also impact the demand for home inspectors, so keeping a close eye on the market is essential.
There is a wide range regarding the salary or average rate per hour that a home inspector makes. In addition, other factors will affect income. We will break everything down for you below.
What is the salary range of a home inspector?
A home inspector’s average salary can range between $44,000 per year on the low end and over $60,000 per year on the high end. The top ten percent of home inspectors can expect an annual salary of $100,520.
How competitive is the average home inspector’s salary?
A home inspector’s salary is generally competitive compared to other trades. For example, painters make approximately $40,280 per year, while plumbers make around $55,000 annually.
Where in the U.S. do home inspectors make the most money?
While the state you live in isn’t the only factor used to determine the average home inspector’s salary, it can impact you. The states with the highest home inspectors’ salaries are New York, New Hampshire, California, Vermont, and Idaho.
Independent home inspector salary vs. employee salary
A self-employed home inspector’s salary is often different from that of a home inspection company.
Self-employed home inspectors have more control over their earnings because they can set their inspection fees and enjoy more scheduling flexibility to meet clients’ needs. However, a company or government employee might enjoy additional benefits like paid time off, insurance, fuel discounts, expense reimbursement, and a 401(k) match.
Unlike an employee, independent home inspectors earn the price of each home inspection minus any expenses, including travel time, gas, inspection software, marketing, and office supplies. In addition to location, the number of inspections an independent inspector performs each year largely determines their annual salary.
How much would I charge for home inspections?
The International Association of Certified Home Inspectors (InterNACHI) offers a formula for self-employed home inspectors to determine how much to charge per inspection.
This includes setting an hourly rate that will cover the value of the inspector’s time minus business overhead. Other factors that determine a home inspection rate include the local real estate market, demand and competition for home inspections, and the state of the economy.
Most companies charge $300-$500 for a home inspection based on all these factors.
Factors that improve a home inspector’s salary
If you work in an area with a busy real estate market, you’ll make more money due to higher demand. You’ll perform a higher number of home inspections versus areas with slower market activity.
More established home inspectors make more money due to their reputation with customers and expertise in the field. The longer you work, the more clients you’ll gain, and the easier it will be to grow your business.
To make more money, offer ancillary services like mold or asbestos inspections. Inspectors who perform pool and spa inspections or use thermal imaging to look for moisture or heat loss can earn more money.
A home inspector’s reputation and online reviews could also factor in how much they can earn. Utilizing people’s skills and networking with relators is a great way to boost your salary, especially in a busy market where competition could often be stiff.
Self-employed home inspectors particularly need the ability to work closely with local realtors to build a professional network over time.
If you want to increase your earning potential, you must invest in the right marketing materials tools like advertising and email campaigns. Maintaining a presence in online home inspectors’ communities and a professional online presence could also help you generate new leads and boost your salary.
Is a home inspector a good career?
If you are considering a career in home inspection, research your state’s specific requirements. Even if your state doesn’t require home inspection certification, a license, or completion of a specialized home inspection course, it still makes sense to get the best training. Solid industry knowledge translates to better home inspections, which in turn will contribute to a better bottom line when it comes to your salary.
Knowing more about the average home inspector’s salary can help determine whether this is the right career. The Inspection Support Network helps you grow your business and help you become a successful home inspector. Visit our website to learn more about our pricing, and sign up for your free software trial today.
Final words on home inspector salaries
If you think becoming a home inspector is a good career path, it’s a good idea to do some research. Each state has requirements for becoming a home inspector, which can impact the supply and demand for home inspectors, and how much they can earn.
Some states require home inspector certification, a home inspector license, online training, and prior experience. Home inspector insurance could also be required for those who are self-employed. Depending on the state requirements for home inspectors, there could be high up-front costs.