A home appraisal evaluates the value of the property in comparison to other similar type homes in the area and is used by lenders to make sure that the property you are looking at is appropriately valued/priced for purpose of a mortgage loan. A home inspection evaluates the condition of the home and it’s working systems on the day of the inspection. This is so that you are not getting something less than the value you are paying for and that you don’t end up with a lot of expenses that you were not counting on.