Cost Guide And Materials
Home Appraisers & Inspectors Costs
For some homeowners, distinguishing between appraisers and inspectors may be difficult because the two titles sound very similar. However, as a general rule, appraisers mainly work to determine property value while inspectors are more concerned with safety and compliance. While some businesses may specialize in one area or the other, there are companies that offer services in both areas.
Select Your Appraisers & Inspectors Project
When to Call an Appraiser
Prior to beginning a home improvement project, homeowners may hire a professional appraiser to assess their current home value and feasibility of the desired project. An appraiser can also answer questions and make suggestions as to what alterations will have the best impact on property value and how best to implement the desired changes without limiting the home's marketability for future sale.
When to Call an Inspector
When completing a home renovation that will affect the overall structure, property owners are generally required to call an inspector to ensure the improvements meet the required standards. For larger renovation projects, an inspector should come to evaluate the project after each phase has been completed. For example, a project that will include electrical, plumbing and drywall installation should be inspected after each part has been installed. If a remodeling firm is used, the homeowner and firm typically agree upon a schedule that includes payment after each phase is complete. The homeowner will generally schedule the inspection before each payment is due.
Failing an Inspection
In the event that a renovation fails inspection, the homeowner should speak with the contractor. Most contractors offer a guarantee that they will fix any portion of the project that does not pass inspection free of charge. In the interest of avoiding complication, the homeowner should have the terms of the contractor's responsibilities in the event of a failed inspection written into the contract prior to beginning work. If the homeowner has obtained financing to complete the renovation work, he or she may be required to send a copy of the inspection report to the lender.
Worth the Money
When completing home improvements, appraisers and inspectors are available to help homeowners make the best decisions that can have substantial financial impact on the value of their property. Although homeowners will pay an upfront cost to hire these professionals, the benefits of ensuring that the intended changes will add value to the property and also comply with local standards and regulations makes the expense of hiring an inspector and an appraiser well worth the money spent.
Last updated on Nov 14, 2013