Home Inspections vs Home Appraisals – Understanding the Difference

If you are a first time Fountain Hills home buyer, be prepared to learn a lot of new lingo – fast! Two of the most commonly misused terms in the home buying and selling process are inspection and appraisal. A home inspection is not the same as a home appraisal, and you’ll need both.

The home appraisal is an opinion of the market value of your home. Most lending institutions will require a current appraisal to complete a new loan. An appraiser will compare your Fountain Hills home to the most recent sales that that are similar to yours in location, square footage, age, style,and upgrades. Now sellers usually get confused about this. Upgrades does not mean maintenace items such as heating and cooling units, roofs, or patios.

The home inspection is all about the condition of the home and is conducted by a qualified home inspector whose job is to determine that the structure of the house, from the ground up, is sound and safe. Here are some of the features of the home that the inspector will examine to make sure the house is up to current code and safety standards:

Foundations & Structure
Basement & Crawll Space
Exterior Walls & Grounds
Roof System and Attic
Electrical Systems
Heating & Cooling Systems
Plumbing & Water Fixtures
Interior Ceilings, Walls & Floors
Doors & Windows
Kitchen Appliances & Laundry
Garage/Carport/Storage Shed
Yard Irrigation Systems
Pool, Spa, Water Fountain
and more…

Are you looking for an expert opinion regarding your Fountain Hills real estate? You can email me or call/text me at 480 888 6708