Unless you, yourself are a licensed home inspector or have extensive knowledge in home construction it is not a good idea to rely solely on what you see in home when looking into purchasing.

Depending on the financing of your new home, there should be two or three inspections done. First, obviously, the buyer should note anything that looks questionable. Here are a few things to look at:

1. The roof - What is the overall condition? Does it appear to look new or old?

2. The foundation - Do you notice any cracks or shifts?

3. Interior - Look for leaks in the ceilings (water stains, warped, etc.) around windows, toilets, tubs.

4. Electrical - Look for worn or scorched outlets, are they up to date (meaning are they three pronged instead of two?)

5. Appliances - If appliances are included with the house, check condition of interior and exterior.

6. Heating/Cooling - Do the systems appear efficient for the size of the house?

7. Your lot - Are there any trees encroaching into the foundation or roof. Check for drainage, is water sufficiently flowing away from house?

A second inspection by a reputable, licensed home inspector needs to be done to provide a more detailed report for the financial institution as well as to the buyer. The inspection report will provide the buyer the opportunity to negotiate the selling price if any major repairs need to be done. For example, if the roof needs to be replaced, the buyer can negotiate that the seller replace the roof or reduce the selling price by a certain amount to cover the buyer's cost of having it repaired or replaced. The report also provides the buyer an escape hatch on a defective house. If the contract is written contingent on an acceptable inspection, any defects in the home must be either repaired or monetarily compensated for. If you are not satisfied, you have the option to cancel the contract.

If the buyer is using a government loan to purchase a house, the third inspection takes place at the time of the appraisal. Keep in mind that the inspection is basically minimal and that it should not be relied upon as the only inspection of the house.

A home inspection can cost anywhere from $200 - $500 but is well worth the cost if it saves you money in the final cost of the home. No one likes to have to spend more money on repairs that went unnoticed due to lack of an inspection!

What to look for in a home inspector:
1. Experience & Certification - How many years experience does the inspector have and is he/she certified by the American Society of Home Inspectors (ASHI)
2. Does the inspector exclusively do home inspections? Beware of inspectors who "do inspections on the side" as they be contractors looking for work.
3. Type of report - Oral or written or both, will there be recommendations for fixing the problems?
4. Length of Inspection - a thorough inspection should take anywhere from two to four hours.
5. What specifically will be looked at during the inspection? IE: roof, basement, foundation, general interior/exterior condition, plumbing, heating, cooling, attached structures, kitchen, baths, electrical
6. Does the inspector have Errors & Omissions Insurance? This gives you some level of protection should there be an "error or omission" in the inspection--meaning the inspector missed something.

Buying a home is stressful enough without having to worry about making repairs after moving in. A home inspection is one of the most important factors to keep in mind!