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Home Inspections are a great way to get down into the nitty gritty of what you’re getting yourself into. A good inspector will walk you through all of the details of the house and explain to you what the risks are. One important, but separate inspection is a termite inspection. Some inspectors can combine the two and charge you a flat fee. Look to pay anywhere from $300-500 for a home inspection.

Here’s a short list of items that a home inspector should inform you of:

-Approximate age of the roof (and how many layers of shingle are on the roof)
-Leaks in the roof and in the plumbing and water damage as a result
-Water pressure at the furthest point from the water source
-Foundation of the house, is it sound? Are there cracks? If so, are they sealed properly?
-Heating and cooling systems, how old are they? Are they sufficient?
-Insulation. Is the attic insulated? Are the pipes insulated?
-Electric Work. Was it done professionally? Is there ample space in the panel for upgrades? Is the wiring relatively new?
-Windows. What shape are they in? Will they need to be replaced soon?

Coming out of an inspection, you want to have a ballpark idea of what it’s going to cost to maintain the house over the next few years. You can use that information to either negotiate with the seller or just to make sure you have enough funds and income to cover the maintenance and mortgage payment.

If you live in the New York area, I would recommend NPI – National Property Inspectors. They did my home inspection and were fantastic – the report was available to me online in PDF format with pictures and notes.