There are many things to consider when home shopping, and there are many more when contemplating the purchase of an older home. First thing to do when contemplating a home is to hire a licensed home inspector. Do not go through the yellow-pages, as is common practice, but ask questions of your realtor, the local home supply center, friends, neighbors, etc. Word-of-mouth beats a flashy ad anytime.
Once you have decided on an inspector, arrange to have him and your realtor meet you at the property as early in the day as possible. A good inspector will take many hours to perform a complete assessment of the house, and more time yet to document the information for you.
Some of the things that should be addressed are general roof condition (age and life expectancy), general foundation condition, siding type and condition, underlayment materials condition, general land and property condition, Chimney condition (If applicable), well & septic (if applicable) condition, the condition of the windows, and several other items outside the home.
Inside the home, your inspector should check for flat walls, proper grounding and tension of electrical outlets, general floor condition and level, all plumbing fixtures, plumbing cut-offs at all fixtures, and a variety of other items. All trim should be tight, and all cabinets should work as designed.
Some of the most expensive items to check are the electrical system, the heating system and the hot water system. Should the electrical system need updating, this cost could easily be in the thousands of dollars. Heating and hot water systems average from a couple of thousand to tens of thousands of dollars, depending on the configuration.
By: Billings Farnsworth