Wow this has to be one of the most important aspects of buying a home. Without the home inspection you will never know for sure that everything is ok. Granted not every home inspection is going to find everything wrong with a house but a qualified and reputable home inspector will be able to give you their opinion on the condition of the home.
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Home Inpsections?

What are they are they good for? Do I really need one? How will I benefit? Home inspections are a valuable tool that every potential home buyer should take advantage of. Regardless in you are a carpenter or have experience as a handy person you should really consider the having a independent home inspection done prior to buying the house. The main reason is they will have no emotional attachment to the property. We as future home owners can get attached to or excited about a potential property pretty quickly especially if we have been looking for a long time. The professional home inspector will be able to point out defect and nesasarry repairs from a third party point possible saving you from buying a money pit based on your emotions.
A quality home inspection entails going over the home from the top to the bottom, both interior and exterior. The home inspection should include but not be limited to the following:

                               * Foundation inspection and evaluation
                               * Overall exterior inspection
                               * Inspection of shingles and roof
                               * Evaluation of all attached structures
                               * Evaluation of insulation levels
                               * Interior plumbing and electrical inspection
                               * Inspection of heating/cooling systems
                               * Evaluation of overall interior condition
                               * Inspection of kitchen and appliances if included 
                               * Inspection of bathroom operation and water leakage


Any one of the above listed as well as many others all could have large repair bills associated with them. It's always good to know exactly in detailed form what you will be buying and getting yourself into.
The results of the inspection may be supplied to you in one of two formats. The first is a checklist type format that offers you only the level of condition ie. good, fair, poor or needs replacement. This report is valuable but is limited in the amount of information you can use.
The other type of report is a detailed analysis of the sections in question providing you with explanation of the concern as well as why and what repairs need to be done. This report is much more valuable and would provide you better peace of mind.
Qualifying a home inspector may be done much the same way you would any other contractor. You may consider inquiring about how long they have been in business, can they supply you with references, are they licensed and insured, how much advanced notice do they require, and what kind of report do they supply.
Remember that the good home inspectors can be very busy at time so make sure you find one before you start house hunting and to also clarify what advance notice they require so you will now how long it will take to clear the conditions on your offer to purchase contract. Which by the way should always included a condition of sale being subject to home inspection. Do not let anyone one talk you out of this inspection.
Another valuable time to have a home inspection done is prior to listing your house on the market. This will give you the opportunity to correct any issues before putting the home on the market. This will also ensure no surprises for the potential buyers which in turn should provide a smooth transaction.

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