If you are prospectively buying a new or used home you should have a home inspection conducted. There are several benefits that can result from a home inspection.

A home inspection will protect you from future surprises and headaches involving rotting exterior or a moldy interior.

The article, “Home inspections Avert Future Headaches,” written by Warren Lutz for move.com, explains how valuable, both financially and psychologically, home inspections can be.

“ Suppose you bought a house and later discovered, to your dismay, that the stucco exterior concealed a nasty case of dry rot. Or suppose that winter when you fired up the furnace, you discovered a cracked heat exchanger leaking gas into your home.”

A home inspection will find out these imperfections quickly, allowing you time to either have them repaired before you move in or allowing to time to back out of buying the home altogether if the damage constitutes health risks or future complications.

“A good home inspection is an objective, top-to-bottom examination of the home and everything that comes with it. The standard inspection report includes a review of the home's heating and air-conditioning systems, its plumbing and wiring, the roof, attic, walls, ceilings, floors, windows and doors, the foundation and the basement.”

Getting a professional home inspection is crucial for both older and newer homes. Older homes are susceptible to damaged roofs and other hard to reach places. Shoddy or no repair work can also result in faulty wiring or missing outlets.

Newer homes however, can easily have imperfections that slip by initial inspection because the initial inspection is more geared towards the layout and physical construction of the home.

“Home inspections cost about $250 to $350, depending on the size of the house and where in the country the home is located. Inspection fees tend to be higher in urban areas and cities than in rural areas. Real estate agents can usually recommend an experienced home inspector.”

The best way to find a reputable home inspector is from a friend’s personal referral. This way you will trust the source, thus have confidence in the inspector.

You can also look in the Yellow Pages under "Building Inspection" or "Home Inspection." The American Society of Home Inspectors, a professional trade group, also has a database of qualified, local inspectors on its Web site.

Another great reason to have a home inspection conducted is for education. “ Most buyers want to learn as much as they can about their purchase so they can protect their investment. An examination by an impartial home inspector helps this learning process.”

A prospective home buyer usually hires a home inspector immediately following signing purchase agreement documents. Results from the inspection are usually reported back to buyer within a couple of days.

At this time, the inspector will provide you of a detailed report of his or her findings of the home and its immediate surrounding area. If there are major hazardous problems, you may be advised not to buy the house.

This report can then be used as a legal document to allow you to cancel moving into the house without having to pay large fees.

How would you like to receive $60,000 a year while living in your home and giving to charity at the same time?

There are many thoughts of what to do with your property once you die. With this program, you will be paid a nice annual income while ensuring that your property will go to a needy charity.

Jennifer S. Forsyth wrote the August 16, 2006 article, “Charities Begin at Home” in The Wall Street Journal, which explains how charities are urging you to follow the example of a retired California couple.

The article explains the situation of Raymond (90 years old) and Eleanor (84 years old) Devereaux, whom in 1984 bought 11 acres atop a small mountain about 35 miles from San Diego, for $100,000. By last year the log home property, with views of Cleveland National Forest, was worth $1.3 million.

Planning ahead, the Devereauxs decided to give their mountaintop home to charity. In exchange for donating their property to Consumers Union, the nonprofit publisher of Consumer Reports, they receive a $60,000-a-year annuity and the right to live there for the remainder of their lives.

This deal also helped the Devereauxs avoid some capital-gains taxes, while eliminating estate taxes on the property and receiving a federal income-tax deduction.”

"We get quite a good income from it and a tax break. I knew about Consumers Union and always thought well of them," said Mr. Devereaux.

“The Devereauxs are part of a growing wave of philanthropists looking to avoid or reduce bigger tax bites created by the rapid run-up in real estate values. Nonprofit groups, which once shied away from real-estate donations because they feared getting stuck with swamp land or lacked the expertise to handle complex land transactions, are seizing the opportunity with new marketing programs. Their target: World War II-era property owners finalizing estate planning and baby-boomers who have seen their second-home and other real-estate investments balloon in value.”

Charities, like Consumers Union, often sell donated properties quickly and obtain the proceeds, though some charities that provide community services may be able to inhabit a building for their programs.

Some other charities, such as the Trust for Public Land, which preserves open space, and Habitat for Humanity, which builds homes for low-income residents, desperately need land.

Not every property will be accepted for charity, though. In fact, most properties will be denied “charity” status.

“Charities still turn down many offers of real estate, perhaps as high as 80%, some experts estimate. They are likely to turn down property with environmental problems, that can't be sold quickly or that has multiple owners who aren't in agreement on the donation. If a donor wishes to give property that has a mortgage, typically the charity must be willing to pay off the mortgage, known in the industry as a bargain sale, says Caroline Camougis, co-managing director of Delphi Partners, a New York-based real-estate donation advisory firm.”

Still, an increasing number of people are starting to apply for their property to be used as charity once they die.

You get to make a great charitable donation, which makes you feel good; the huge tax break doesn’t hurt either.