What is a home inspection? Here's what to expect

You may have heard the expression “good bones" referring to a quality, well-built home. But how do you know if a house fits that standard? That's where a home inspection comes in.

A home inspection is a professional property examination which typically occurs during the homebuying process . A trained and certified inspector usually conducts the assessment after a buyer and seller sign a sales contract or purchase agreement, before a home sale closes.

Read more: If you're buying a home, explore your mortgage options to find the right fit.

During an inspection, a home inspector assesses the physical structure of a home. The typically two- to four-hour evaluation determines whether a property meets all building codes and regulations.

While not required, an inspection could save buyers time, money and potential headaches. You might consider having your home inspected before you sell your house so you make any necessary repairs that may deter a buyer.

What type of inspection do you need? It depends.

In most instances, homebuyers hire a general home inspector to assess a property and receive a written property condition report.

Inspectors examine electrical, water, plumbing, and heating and cooling systems. They also check for fire and safety issues. The inspection also looks for evidence of insect, water and fire damage. If the inspector spots trouble, they might refer you to a specialist to investigate further.

A foundation inspection looks for drainage problems, tree roots, cracks or other indications of movement or shifting. A foundation inspector may suggest that you have the property inspected by a residential structural engineer if more issues lurk.

You can't see (or in some cases, smell) everything. A mold inspector can detect dampness in your home using a moisture monitor meter and possible air samples.

Radon is an odorless, colorless gas that results from the gradual breakdown of radium from well water, building materials and soil through cracks in the foundation, floors or walls. A professional radon inspector can test the home.

The report can take 24-48 hours to be delivered.

Homebuyers can make the closing contingent on the results of the home inspection. Don't panic if a home inspector discovers defects. Some buyers understand that no home is perfect.

If you're the buyer, know that you can request a reinspection to verify that issues have been fixed.

Home inspections cost between $200 to $500 on average, depending on the size of the home and location. Buyers usually pay for the inspection through closing costs , but if you get a home inspection before you put up the “for sale" sign, you'll pay the bill.

A report by a qualified home inspector can help you feel confident in your decision to purchase a home, or give you a clear picture of how to improve your home before selling it.