How do I evaluate a resale home?

Homes with a past have special appeal. An existing home is a settled place (literally): the foundation, the landscaping, the neighborhood, including its services, are about where they're probably going to be for some time.

The home has a lived-in look. some rooms may be larger than in new homes, woodwork has mellowed, the yard is a generous size. Its price may be lower (per square foot) and its financing possibilities more flexible than in new homes, especially if you can pick up an assumable mortgage.

The thing to be on the look-out for is wear-and-tear:

• How firm is the foundation?
• How sound are the sills, walls, floors and ceilings?
• What kind of plumbing was installed, when?
• What's the shape and extent of the electrical system?
• What shape is the heating/cooling system in?
• What are monthly energy costs?
• How well does the insulation protect the indoors?
• What will it cost you to remodel if necessary (especially kitchen and baths) or to make necessary repairs?

If in doubt -- or just for your peace of mind -- you can hire a certified home inspector for a professional opinion.

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