203K Inspection (Lancaster)- same as a Home Inspection?
I have worked with a number of clients in Lancaster, PA both as a 203K consultant and as a home inspector and I often get asked,
"Is the 203K inspection is the same as a home inspection?"
A 203K inspection is not the same as a home inspection. They differ in several ways:
Scope of Inspection
As a 203k inspector, I inspect according to minimum HUD standards. 
The 203k inspection report list the required repairs needed as part of the 203K loan, the repairs I recommend the client take care of, and the client's desired repairs and upgrades.
If I see a leaky roof or if the property has a failed septic, those are examples of required repairs. A repair I might recommend is improving insulation. An example of a desired repair by a client might be a kitchen upgrade or an addition.
As a professional home inspector in Lancaster & Reading, I inspect according to the ASHI Standards of Practice. You can click to read more about Why use an ASHI Inspector?
The home inspection is a more in-depth inspection and the home inspection report will cover the condition of the home's heating and central air conditioning systems, interior plumbing, electrical systems, the roof, attic, visible insulation, interior and exterior walls, ceilings, floors, windows, doors, the foundation, basement, structural components, and more.
Cost
A 203k inspection starts with a feasibility study. This costs $150 plus mileage. If the client decides to proceed and they qualify for the 203K program, the next step is the work study. The 203K Consulting Fees for a work study vary based on the cost of rehab work.
A home inspection's cost is based on the size of the home. For a single family detached home, it's approximately $350.
Time
A 203k inspection takes about an hour.
A home inspection takes 2 1/2 to 3+ hours, depending on the condition of the home and the amount of questions the client might have.
Purpose
A 203k inspection's purpose is to identify minimum HUD standards and create a list of required and desired repairs as well as determining cost estimates for work to be completed. You would only get the feasibility study and work write-up if you were interested in an FHA 203K loan.
A home inspection is an inspection that anyone can get (buyers, sellers, banks, etc) and looks at not only the condition of property but also maintenance needed to keep the home in good shape. Most of my clients in Lancaster, PA are getting home inspections prior to purchasing a home and as part of the Agreement of Sale contingency.
I highly recommend getting a home inspection in addition to a 203k inspection to fully understand the property you are purchasing. However, most of my clients under the 203K program only get the 203K inspections which are the feasibility study and work write-up. Whether you wants to have both a 203k inspection and a home inspection is a personal preference.
For more information, visit David's Artigliere's website at www.203kpa.com or call (610) 220-1907 to learn more about the 203k program and 203k inspections.
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