Whether buying or selling a home, it’s essential to know the difference between a home inspection and an appraisal. Many buyers and sellers confuse the terms, but there’s an important distinction you need to know as you move forward. Keep reading to learn the definitions and differences of these two key terms in home selling and purchasing.
What Is a Home Inspection?
A professional home inspection is a process in which an inspector visually examines a residential property to determine the current condition and safety. It includes an assessment of the physical structure of the building and the systems in the home.
After the inspection, which can take anywhere from two to four hours to complete, the inspector provides a full report on the findings. The inspector’s report will cover condition and safety details about all structural components and systems in the home, including:
- Walls, ceilings, and floors
- Foundation and basement
- Visible insulation
- Windows and doors
What Is a Home Appraisal?
A home appraisal is a process to determine a home’s fair market value. It’s a tool that lenders use to ensure that a home’s price is reasonable. It also helps homebuyers to know what to expect from property taxes. An appraiser visually assesses the property to look for anything problematic, but they do not look for specific issues. Instead, the goal of an appraisal is to assign an overall value to the residential property.
Inspection vs. Appraisal
A home inspection differs from an appraisal because it is a more in-depth examination of the structural components and systems.
An inspector has a specific list of items in the home to inspect and looks for problematic areas that will require repair. The professional will take a more hands-on approach to the assessment, testing outlets, and running the HVAC system during the inspection. The appraiser doesn’t do any of those tasks. The only goal of the appraisal is to determine the home’s value.
Trust Classic City for Reliable Services
If you are looking for a trustworthy home inspector who brings years of experience to the home inspection process, trust Classic City Home Inspection. We offer expert, comprehensive inspection services that cover every aspect of a property, from the foundation to the roof. Count on us to adhere to all standards of practice put forth by the State of Georgia. We never cut corners and give you a full inspection report that will bring you peace of mind and help you know how to move forward.
What’s more, our services don’t stop with the inspection. We also help you identify repair priorities and resolve any issues we find during the inspection process. Through it all, we provide attentive client care and friendly service.
Ready to schedule a home inspection in the Metro Atlanta Area? Or do you have more questions about the differences between a home inspection and an appraisal? Connect with the team at Classic City Home Inspection online or call 706.614.7308.