Understand the Importance of Appraisal and Inspection

Thursday, April 20th, 2023
Barb Modde

If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Here’s the breakdown of each one and why they’re both important when buying a home.

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For many, owning a home is a big part of the American Dream. It means not having to ask a landlord for permission to paint cabinets; not having to pay extra to have a pet; and having a backyard to entertain friends. It also means an end to rental payments that don’t build equity. 

But while the privacy and stability of a permanent residence is appealing, deciding to buy a house can also be scary. 

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