I'm buying with an FHA loan, do I still need a home inspection?

6 Replies

I'm buying a 1 family rental with an FHA loan, should I have my own home inspection or is FHA inspection sufficient? I'd really appreciate advice from anyone familiar with FHA's inspection process or home inspections

Thank you!

An FHA appraisal is pretty comprehensive, but it should not take the place of a home inspection (especially if you are newer to RE). You said you are buying a 1 family rental, you do intend to live there for the 1 year requirement correct? They are pretty serious about that and it is not something to take lightly.

The home inspection is for your benefit, unless you've seen hundreds of properties and various problems and know how much it costs to fix them, I would pay for the home inspection!

Originally posted by @Malynda Sala :

I'm buying a 1 family rental with an FHA loan, should I have my own home inspection or is FHA inspection sufficient? I'd really appreciate advice from anyone familiar with FHA's inspection process or home inspections

Thank you!

 An appraisal is not an inspection.

Most inspectors have backgrounds as general contractors. Most appraisers have backgrounds in multiple linear regression and statistical analysis. One can swing a hammer, the other is a math nerd. I wouldn't trust the math nerd to know about the foundation any more than I'd trust the GC to know about multiple linear regression (assuming you don't have an unusual GC/appraiser, of course). 

Related: For your protection: Get a home inspection.

GET A HOME INSPECTION!

The FHA appraiser, while thorough in his/her job, has specific items that he is looking for, which isn't necessarily in line with what a home inspector will search for.

It is well worth the money to get a competent home inspector to go over the place with a fine tooth comb.  It also helps if you plan on getting a home warranty as it provides the home warranty with proof of what systems were working properly at the time of contract, so they can't claim pre-existing later.

I could not have put it any better than @Chris Mason did. Get the home inspection for sure. 

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