If you're in the process of buying a home, you've probably heard about both the home inspection and the appraisal. Although both processes are essential, they serve very different purposes. In this article, we explain the differences between a home inspection and an appraisal, and why both may be necessary for a safe purchase.
What is a home inspection?
A home inspection is a technical evaluation of the actual condition of a property. An architect or specialized technician reviews structural aspects, installations and possible hidden defects. Its objective is to detect problems that may affect safety or generate repair costs in the future.
🔎 Aspects that a home inspection evaluates:
Building structure (cracks, settlements, foundations).
Condition of the roof and deck.
Electrical, plumbing and heating installations.
Presence of dampness, leaks or insulation problems.
Condition of floors, windows, doors and finishes.
What is a real estate appraisal?
A home appraisal is a report that determines the economic value of the property. It is carried out by an approved appraiser and is usually mandatory for the granting of a mortgage. Its objective is to guarantee to the bank that the price of the property is in accordance with the market and the conditions of the property.
📊 Factors that influence the appraisal:
1 Location of the property.
2 Constructed and useful square meters.
3 Age of the building and state of conservation.
4 Nearby services and facilities.
5 Comparison with recent sales in the area. 6 Comparison with recent sales in the area.
Main differences between a home inspection and an appraisal
| Feature | Home inspection | Real estate appraisal |
|---|---|---|
| Target | Detect problems and evaluate the condition of the property. | Determine the market value of the property. |
| Who performs it | Architect or technical architect. | Appraiser approved by the Bank of Spain. |
| What it is based on | Complete technical review of the general condition of the house. | Price analysis according to market, location and characteristics. |
| Who is applying | Buyer or seller, to know the real condition of the property. | Bank or buyer, to find out how much the house is worth and be able to get a mortgage. |
| Mandatory for mortgage | ❌ No. | ✅ Yes. |
What do you need before buying a home?
Want to know if the house has hidden problems? → Home inspection.
If you need to ask for a mortgage → Real estate appraisal.
If you are looking for maximum security in your purchase → Both.
Conclusion
An appraisal will tell you how much the house is worth, but only a home inspection will guarantee that it is in good condition. We hope we have been able to solve your doubts about the differences between a home inspection and an appraisal. At Revicasa, we carry out detailed inspections so that you can buy with total security and without surprises. Do you want to check your future home? Contact us!
