Everything you need to know about getting a home inspection

Once you've entered into a contract to buy a new home, you definitely want to hire a home inspector. Consider all the things that can cause damage to a home: weather, building materials, wear and tear from previous tenants, pests, time, etc. - and most of it isn't visible to the untrained eye. You wouldn't buy a used car without popping the hood, so why take the gamble with an investment that can be between 20 and 100 times the price?

Real estate brokerage Redfin has offered special insight into home inspection, listing the top five commonly asked questions and answers.

What can a home inspector do for me? Save you a ton of money on the sale.

A typical home inspection takes less time than waiting for the cable guy and costs less than the installation. A visual inspection of the structure and components of a home takes about two to three hours (less for a condo). The inspector will record any issues he finds in a written report, including a checklist and photos, to give you an idea of what kind of repairs you might be looking at.

Depending on the square footage of the home, an inspection costs roughly between $300 and $500. After an inspection, armed with a detailed understanding of the expected repairs, you can further negotiate with the seller, and the inspection report serves as evidence in protecting yourself if you use the 'inspection contingency' (if you want to back out and reclaim the money you just put down).

In other words: It can save you thousands of dollars, and give you a peace of mind.

What does a home inspector look for? Lots.

The inspector examines the interior and exterior of the home, and checks the condition of the plumbing, electrical, heating and ventilation, structural and finished elements throughout. Inspectors often use tools such as thermal imaging and water sensing instruments that can tell if there is a problem with heat or moisture near the surface of a wall or floor.

Most inspectors will also test any appliances included in the sale, like washers and dishwashers to make sure they are in good working order (and don't leak).

What makes a good home inspector? A local one, with knowledge of your home's area.

First off, you want someone who is licensed in the state where you're looking for a home. This indicates that they are familiar with local laws and the common issues of your geographic region, such as mold, carpenter ants, termites and other wood-destroying organisms. Here in Philly, for instance, you'll want someone familiar with our local concerns: flooding, carbon monoxide poisoning and faulty wiring.

Because the window for home inspection is typically limited between 5 - 7 days, we recommend finding an inspector and inquiring about their availability before you commit to a 'mutual acceptance' with the seller. Report delivery shouldn't take much longer than 24 hours, but you'll want to ask in advance. Find a home inspector in Philadelphia on Redfin.com

What does a home inspector not do? Specialist concerns.

Make no mistake: A home inspection is not a warranty or guarantee about the state of your home. Inspectors cannot assess whether the home was built in compliance with building codes, or if it has a geologically stable foundation. If you have these concerns, you'll need to hire a topic expert, such as a plumber or structural engineer.

However, the home inspection is the first step. If the inspection report details suspicions of topic issues that would require an expert, you can use that to bargain more inspection time (an extra 3 - 7 days) from the seller while you schedule these follow-ups.

Home inspectors do not appraise your home or cost of repairs. If you anticipate making any of the repairs, you will need to consult a contractor for a quote.

What should you do during the inspection? Take notes.

You should review the seller's disclosure from and notify the inspector of any disclosures. For example, if the seller's disclosure mentions past water damage in a certain part of the house, an inspector will know to investigate that area more thoroughly. Follow the inspector during his evaluation, and take notes. When you're the homeowner and tasked with any repairs or routine maintenance, you'll be glad to have observed the concerns for your own reference.

A home inspection is meant to help you rationalize, negotiate or walk away from a deal. Knowing more about what you're getting into will relieve the stress of home buying, and help you make a good decision.