These two terms get mixed up constantly, but a home inspection and an appraisal answer completely different questions.
Purpose
Home inspection: answers "what condition is this home in, and what needs attention?" Appraisal: answers "what is this home worth?"
Who Orders It
Home inspection: typically ordered by the buyer during due diligence. Appraisal: ordered by the lender to protect their investment in the loan.
Who Performs It
Home inspection: a licensed home inspector. Appraisal: a licensed real estate appraiser — a different profession with different training entirely.
What's Evaluated
Home inspection: the condition and function of the roof, structure, electrical, plumbing, HVAC, and interior — see a sample report for the level of detail involved. Appraisal: comparable sales, square footage, lot size, and general condition, used to calculate market value.
Is It Required?
Home inspection: optional, but strongly recommended for buyers. Appraisal: typically required by the lender on any financed purchase.
Bottom Line
An appraisal protects the lender's investment. A home inspection protects yours. Skipping the inspection because "the appraisal already happened" is one of the most common — and costly — misunderstandings in home buying.
Don't skip the inspection.
An appraisal tells you what the home is worth. An inspection tells you what you're actually buying.
RESIDENTIAL INSPECTIONS SCHEDULE AN INSPECTION