BUYING A HOME: Economics vs. Emotions

USA Today (Society for the Advancement of Education), March, 1999 by Kenneth T. Austin

No one ever said purchasing a home was easy, but there are ways to help ensure that unforeseen problems don't crop up. Doing your homework and taking the steps outlined above will minimize the odds of this happening.

Some of the additional safeguards a home buyer can take are title insurance; homeowner's, flood, and personal liability umbrella insurance policies; and a pre-closing inspection. The latter usually is done within 24 hours of closing and is much more than a last "walk-through" of the house. When properly done, this is a final check of the property by the buyer to confirm its physical condition. Some home inspection services will provide buyers with a pre-closing checklist to help them perform the inspection systematically and thoroughly.

With these added elements, and following these guidelines, you will sleep better knowing you are doing just about everything in your power to protect your investment.

Mr. Austin is chairman of HouseMaster, a nationwide home inspection service headquartered in Bound Brook, N.J..