Virginia's real estate market has cooled as the slumping economy fans high interest rates. Buyers have more choices and a little more time to make decisions than they did during the highly competitive market of recent years. According to the Virginia Association of REALTORS®, higher borrowing costs have prompted some buyers to put their home search on hold, contributing to fewer closed sales and pending transactions. If mortgage rates remain elevated, Virginia’s housing market could see a slower fall season in 2026 than it did in 2025.
Virginia generally follows a “buyer beware” approach to residential real estate, placing much of the responsibility on you to investigate a home’s condition. The state’s residential property disclosure statement is not a complete list of defects, and certain conditions carry separate disclosure requirements. Don’t assume that a problem doesn’t exist simply because the seller hasn’t mentioned it. Arrange a professional home inspection and any specialized evaluations you need within your contract’s deadlines, and consult a real estate attorney about legal questions specific to your purchase. If you're planning to buy a home in the near future, this article will help you navigate the home inspection process.
A home is a major investment—take the time to understand its condition and the repairs you may need to budget for before you commit. You may be wondering whether to consider buying a house sold “as-is.” It may be tempting to feel pressured to act quickly when you find a home you love, but don’t let the fear of missing out lead you to skip an inspection. Waiving a home inspection could leave you facing hidden costly surprises that slowly reveal themselves after you move in.
So you found your home. You put in an offer, and it was accepted. Great! Now the real work starts. Now it's time for your home inspection. Plan to spend $300 to $450 and don't skimp. Here's how to make the best of it and few others things to think about before you close the deal.
Start by checking your home inspector’s credentials. Virginia requires home inspectors to be licensed through the Department of Professional and Occupational Regulation (DPOR), under the Board for Asbestos, Lead, and Home Inspectors. You can verify that their license is active on the DPOR website (opens in a new window). Buying a newly built home? Make sure your inspector also holds the New Residential Structure (NRS) specialty designation, which requires additional training on the Virginia Residential Code. For an existing home, look for someone experienced with homes of a similar age and style in your area—from crawl space moisture issues to aging electrical and plumbing systems.
2. Attend Your Inspection
This is a great way to get to know your new home, learn how various systems in the home operate, and find out what maintenance the home will require. Use references from your realtor or family and friends to hire a reputable inspector rather than the cheapest one you can find. Be sure to give them space and time to focus on doing the best job for you.
Use your inspection report to identify repairs that could affect your safety or stretch your budget. Work with your real estate agent to decide whether to request repairs, a credit, or a lower purchase price. The seller may not agree, so know what you’re comfortable taking on and review your options under the purchase contract before deciding how to proceed.
Virginia is rich in history and has beautiful historic homes. If you’re buying an older home, ask your inspector to explain any concerns about outdated systems or construction. Check with the local building department to confirm that additions and major renovations received the required permits. Some repairs may fit into your long-term plans, while others need attention right away. Give these potentially costly issues a closer look before you commit and negotiate repairs with the seller, or you may want to consider walking away altogether:
Don’t let dated wallpaper or a paint color you dislike overshadow a home’s potential. Cosmetic updates can often wait until you’re settled in, and painting or refacing cabinets may be an alternative to replacing them. Focus first on the home’s condition, safety, and the repairs that could have the biggest impact on your budget.
For larger projects, inquire with experienced contractors and ask about costs. Factor into your budget potential problems that may surface once work begins. Then decide what needs attention before you move in, what you can tackle over time, and whether you’re comfortable with the cost and disruption involved.
Contact a local independent insurance agent before you close to compare home insurance quotes and build the cost into your budget. Ask for quotes with similar coverage limits and deductibles so you can make a meaningful comparison—not just choose the lowest premium. Have your agent explain what each policy covers, what it excludes, and how much you would pay out of pocket for a covered claim.
Share your home inspection report and ask whether any findings, such as an aging roof or outdated electrical system, could affect coverage eligibility or require repairs. Different locations in Virginia also come with different risks, so choose an agent who knows the area and can help you identify coverage needs specific to the property. Getting these answers early gives you time to address concerns and arrange coverage before closing.
Before you buy, investigate the property’s flood risk rather than relying only on its location or the seller’s disclosures. Start with the address search in the FEMA Flood Map Service Center (opens in a new window), and refer to local flood-risk information and map updates using Virginia's Flood Risk Information System (opens in a new window). A home outside a designated high-risk flood zone can still flood, so a lower-risk designation is not a guarantee of safety.
Ask the seller about past flooding, water intrusion, and any repairs or drainage improvements. Have your inspector look for signs of previous water damage and explain whether further evaluation is needed. Consider the home’s elevation, nearby waterways, and how water drains around the foundation as part of your decision.
Most standard homeowners insurance policies do not cover flood damage. Talk with your local independent agent about flood insurance options, coverage limits, exclusions, and deductibles, and include the premium in your homeownership budget. Ask your lender whether flood insurance is required, and confirm when coverage would take effect before closing. Even if your lender doesn’t require it, flood coverage may still be worth considering.
Ask your real estate agent whether a home warranty is worth considering, especially if the home has older appliances or heating and cooling equipment. A seller may be unwilling to replace equipment that still works, so discuss whether a warranty could be part of your negotiations where the seller pays for this warranty. Don’t treat it as a substitute for an inspection or for addressing needed repairs before closing.
A home warranty is a paid service contract that may help with repairs or replacement of specified appliances and systems, depending on its terms. Before you buy, read the contract carefully. Compare the purchase price, service-call fees, coverage limits, exclusions, and cancellation terms. Ask how repairs are approved and handled, and check the company’s reviews and complaint history. The Federal Trade Commission recommends weighing these details (opens in a new window) rather than assuming a warranty will pay for every breakdown.
Check whether any appliances already have manufacturer’s warranty coverage, and consider whether setting aside money in a repair fund would be a better fit for your budget. Whichever option you choose, leave room for maintenance and expenses the contract won’t cover.
Start by asking the seller’s agent whether the home has a history of termites or other wood-destroying insects. Request any available inspection reports, treatment records, repair receipts, and warranties. If a treatment agreement is still in place, ask the pest control company what it includes and whether it can transfer to you.
Ask your home inspector to point out possible signs of pest activity or previous treatment. Patched drill holes in concrete or masonry may indicate an earlier termite treatment, but they don’t tell you whether termites are active today or whether past damage was repaired. Have a qualified pest professional evaluate any concerns rather than relying on appearance alone.
If there’s evidence of damage or a treatment history, arrange a separate inspection with a licensed pest control professional. Ask them to explain any signs of current activity, visible damage, and areas they could not access. Termites can remain hidden, so an inspection cannot rule out every concealed problem. The EPA recommends choosing a licensed company and checking its credentials.
Get findings and any recommended treatment in writing. If damaged wood may affect the home’s structure, have an appropriate building professional assess the repairs separately. Review treatment and repair estimates with your real estate agent before closing so you understand the potential costs and your options under the purchase contract.
For the best home buying experience, don’t let the pressure to buy influence taking on risks you’re not comfortable with, even if other buyers are willing to skip an inspection. House hunting can be tiring, but your long-term needs and budget matter more than winning an offer on one property. Take time to understand the home’s condition, weigh potential repair costs, and work with your real estate agent to make an informed decision. The goal isn’t just to buy a house—it’s to find a home you can comfortably care for in the years ahead.
Sources:
https://msc.fema.gov/portal/search
https://www.dcr.virginia.gov/dam-safety-and-floodplains/fpvfri
https://consumer.ftc.gov/consumer-alerts/2023/02/so-whats-deal-home-warranties
https://www.dpor.virginia.gov/Consumers/Residential_Property_Disclosures
THE NORTHERN NECK INSURANCE INTEGRITY PROMISE — We pledge to provide straight talk and good counsel from our NNINS Virginia insurance experts through our blog. While we hope you find this to be a helpful source of information, it does not replace the guidance of a licensed insurance professional, nor does it modify the terms of your Northern Neck Insurance policy in any way. All insurance products are governed by the terms in the applicable insurance policy.