A home inspection business is lucrative. On the first year alone, you stand to earn around $30,000. With word of mouth and excellent skills, you can double that in the next year. Nevertheless, it’s best to put things in a clear perspective.
Learn more about it beginning with this information:
Is home inspection mandatory?
The answer is no. Homeowners do not need to go through with it whether they apply for a bank or an FHA loan. It doesn’t mean, however, it is not ideal. In fact, all lenders encourage it. An appraiser would need to work closely with a home inspector. The latter’s expertise can help determine the best property value.
How do you become a home inspector?
The licensing requirements can vary between states. Moreover, to qualify for the job, you need to have some technical knowledge. These include construction and plumbing.
Starting this business may be difficult especially if you’ve never done it before. Opting to own a home inspection franchise becomes a better choice. You can obtain enough support from professionals and leaders in the field. You can also begin your business more quickly.
Is there a future in home inspection?
Yes, there is. One, the construction outlook in the United States is positive. In 2018, construction spending will increase 5 percent compared to 2017. When broken down into categories, construction will grow due to residential and commercial.
In 2017, residential demand also went up at least 5 percent than in the previous year. There is a higher need for single-family homes, particularly those within the urban area.
You can also tap on the new set of home buyers. These are the millennials. The older members of the Y generation are already working or raising families. They are also active in looking for a residence. In a survey by Nationwide Mortgages, 34 percent of them are buying a property. Meanwhile, about 33 percent of them consider getting a house within the next 3 to 5 years.
Indeed, home inspection business gives you an opportunity to join the housing industry without a hefty investment. You can also take advantage of a growing clientele and demand.