by Francis Jock

Created on: May 15, 2009

There are plenty of good reasons why buying an older home can be a great investment. Older homes have intrinsic value that appeals to our sense of belonging, especially if they are well-maintained and located in a desirable neighborhood. Older homes are prestigious and are a wonderful place to raise a family because they are truly homes and not just the ordinary place to live until you can afford something better.

Buying an older home is not without risk, however. Some older homes are elegant and attractive from the curb that turn out to be financial black holes for the unsuspecting home buyer. Falling in love with an older home for its style and beauty is often the first mistake an awe inspired home buyer might make. The second mistake is to overlook the necessity of observing caution when making a decision to buy.

To the untrained eye, an older home, or any home for that matter, can look nice and trouble free, especially if it is sporting a new coat of paint and a new roof. But trouble often lurks in the unseen and cleverly disguised corners that the home seller doesn't want you to know about. This is why is it extremely important to hire a professional home inspector to inspect and report the true condition of the home to the buyer.

A professional home inspector will examine every aspect of the home, new or old in detail. They will look at every system and their components, including the heating, cooling, sewage, plumbing, electrical systems. They will evaluate the condition of the house from top to bottom, from the roof to the basement and also consider the condition of the driveway and walkways, as well. Then they will provide the home buyer a report of their findings.

Included in the home inspector's report is information about insects, mold, and vermin that are not easily seen during the usual home buyer's walk through when accompanied by an aggressive real estate agent. Prepared with the home inspection report, the home buyer can begin to consider the difficult questions and answers about whether or not to buy the older home.

Chances are that some problems are going to be uncovered as a result of the home inspection and the home buyer must weigh the financial impact of each one carefully. Here is a brief checklist of factors that figure into making an informed buying decision.

What is the cost of repairs? Home buyers should get at least three estimates from reputable repair service companies. Unless you are a total do-it-yourselfer and the repairs

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