A home inspection is a professional consulting service that determines the present condition of the home’s major systems, based on a visual inspection of accessible features. It focuses on the performance of the home, rather than cosmetic, code or design issues. Inspections are often performed during a real estate transaction but may be done anytime.

A home inspection is:

• An in-field evaluation and professional opinion of the performance of the readily accessible installed systems in a home at one point in time
• Primarily a visual examination
• Intended to identify components that are significantly deficient, unsafe or near the end of their life
• Documented in a written report

A home inspection is not:

• An insurance policy, guarantee or warranty on the home
• An invasive or destructive exercise
• Intended to identify concealed defects
• A code or design review
• Intended to predict future performance or life expectancy
• An environmental review or energy audit

Components included:

• Roof
• Structure
• Exterior
• Electrical system
• Heating and Air Conditioning system
• Plumbing system
• Insulation and Air/Vapour Barriers
• Interior
• Mechanical and Natural Ventilation systems

What’s excluded:

• Cosmetics
• Code, bylaw and building regulation issues
• Outbuildings
• Swimming pools and spas
• Specialty systems including telephone, cable TV, alarm systems

Here is a good article on home inspection:

https://www.investopedia.com/articles/mortgages-real-estate/08/home-inspection.asp