4. Accompany the inspector.

Most stories on homebuying advise you to have a home-inspection clause in your contract, giving you the right to have the property inspected and to withdraw your offer if the inspection report isn't satisfactory to you for any reason. What these stories often neglect to mention is that you should be present during the inspection. We weren't because we didn't want to spend the money on a flight to Kentucky. Now we know it would have been money well spent.

Sure, you'll get an inspection report. But it can be difficult making heads or tails of it. If you're present during an inspection, you can see problems with your own eyes, get an idea of how serious they are and ask the inspector how much he might think it will cost to repair them.