Home appraisals and home inspections both assess your home and provide a report summarizing the condition or value of your home based on key measurements. Unlike a home inspection for the sale of a property, a home appraisal is used for loan applications, property value assessment for sales or settlements (divorce, estate, etc.), and taxes and insurance. If you’re having your home appraised for lending purposes, you’ll likely need a state-certified appraiser, so be sure to your research their credentials. Nationally, the average cost for a home appraisal is $340.
If you’re buying or selling a home, having a professional home inspection can be an invaluable tool for price-setting and negotiation, as well as learning what repairs are necessary. The national average home inspection cost is $310, ranging higher or lower depending on the inspection company, your location and the size of your home. Other factors that can affect cost are additional inspection services and pathogen testing. Here are some examples of average home inspection costs in various parts of the country:
Home inspection in New York City: $425 or more.
Condo inspection in New York City: $200 or more.
Home inspection in Central Texas: $250 for homes up to 2,000 square feet.
$275 for homes from 3,001-4,000 square feet.
$300 for homes from 4,001-5,000 square feet.
$325 for homes 5,001 square feet and up, plus 10 cents per additional square foot.
Home inspection in Los Angeles: $199-$299 or more.