Buying a home is probably the largest single investment you will ever make. In doing so, you should learn as much as you can about the condition of the property and the need for any major repairs before you purchase. A home inspection is usually set up within a few days after the contract or purchase agreement has been signed. However, before you sign the contract, be sure that there is an inspection clause in the contract, making your purchase obligation contingent upon the findings of a professional home inspection. This clause should specify the terms to which both the buyer and seller are obligated.

A home inspection not only points out the bad, but the good aspects of a home, as well as the maintenance necessary to keep it up. After a home inspection, you will have a better understanding of the home you are about to purchase, and will be able to make a more confident decision on buying.

While it is not required for you to be present for the inspection, it is strongly recommended. By following the home inspector around and observing and asking questions, you will learn a great deal about the condition of the home, how its systems work, and how to maintain it. You will also find the inspector’s written report, which you’ll receive after the inspection, easier to understand if you've seen the property first-hand with the inspector.

No house is perfect. If the inspector finds problems, it doesn't necessarily mean you shouldn't buy the house, only that you will know in advance what to expect. A seller may be flexible with the purchase price or contract terms if major problems are found. If your budget is very tight, or if you don't wish to become involved in future repair work, this information will be extremely important to you.

Here are some Helpful Hints for a Hassle-Free Home Inspection:

• Select an inspector with training and qualifications. As licensing for home inspectors is not required in most of the United States, professional designations are all the more important. Try to find an inspector who is a member of a professional society, for example the American Society of Home Inspectors.

• Use referrals. Most real estate agents encourage their clients to seek a serious inspection. They're interested in client satisfaction. Still, agents don't want to be seen as pushing the services of any one inspector. That's why you may get as good, or better, referrals from friends or co-workers who have gone through the home inspection process.

• Don't select just on price. The fee for a home inspection depends on the geographic area as well as the size of the house. A home inspection usually takes about two to three hours and runs between $200-$500, depending on these factors. However, home inspector’s prices are usually within 20 to 40 dollars of each other.

• Don't confuse an appraisal with an inspection. An appraisal is requested by the buyer’s lender and is designed to determine the market value of the property. It is not a replacement for a home inspection, which provides an in-depth look at such basic home systems as plumbing, heating, air conditioning and roofing.

• Understand the limits of a home inspection. The most thorough home inspector can still miss some items. Some problems are slow to develop, while others are hidden from view. That's why it's best to choose a home inspector who is willing to answer your questions -- even after you move in.