A home inspection comes shortly after you get an offer accepted. This is an independent 3rd party that you hire to inspect the home’s major systems and components. A home appraisal comes once you are past the home inspection and loan acceptance phases. Your lender outsources this to determine the value of the home, as compared to recent sales. This gives them the confidence to provide you with the loan at the current valuation. At the end of the day, you shouldn’t really be comparing home inspections vs. appraisals. They are both essential to make sure your investment is a solid one.