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Home Inspections vs. Appraisals

Home Inspections vs. Appraisals

Home inspections can normally take anywhere from two to four hours, depending on the size of the house. It’s always a good idea to be present at your home inspection. You want to ask questions and see the condition of the house for yourself.

Home inspections normally mean that an inspector will check:

  • Heating System
  • Central air conditioning system
  • Interior plumbing and electrical systems
  • Roof
  • Attic
  • Floors
  • Walls
  • Ceilings
  • Windows and Doors
  • Foundation
  • Basement
  • Structural components

Fun Facts About Home Inspections in South Florida

Housing inventory in the United States is low. I mean, we need to build more homes, and fast. Due to so few homes being built over the years, some areas, like South Florida, keep buying and selling older homes. Many of which may need a four point inspection, rather than a regular home inspection.

According to Ohana Inspections, four point inspections are in-depth reviews of a home’s fitness once a structure is forty years old or older. According to the Census, of the 2.56 million homes on record in Broward, Dade, and Palm Beach counties—1.7 million of those were built in 1989 or prior to that. That means that about 66% of homes in Florida need or will soon be in need of a four point inspection.

Home Inspection Tip: Install Shutters and Impact Windows

A great tip for gaining credits with your homeowner’s insurance in Florida is to install impact windows and shutters. As Florida is a state prone to hurricanes, the fact that you’ve already taken these precautions is a huge plus for your insurance carrier, and they’ll gladly give you some credits in exchange for your efforts.

Key Difference Between Home Inspections and Appraisals

Appraisals are more about home value than safety. An appraiser normally takes measurements of the house in question in order to be able to compare its price to another home nearby that’s similar in structure and layout. These comparison homes are called comparables, and they can make determining the value of a home tricky.

Why is this done? Appraisers need to inspect the home and make a layout of it in case any key features of the home were changed by the current or previous owner. For example, if a home was remodeled without permits by the previous owner and the home no longer has two rooms and a master bedroom but four rooms—that could cause a problem. Banks like to err on the side of being more conservative rather than not, and when a home is being sold, appraisers need to take into account any changes made to the structure of the home. Changes made without permits might detract from the value of the home, since the current buyer may not have expected these curveballs and so isn’t expected to pay for them.