There are so many things, but I'll try, starting from the top: take some binoculars with you so you can check out the condition of the roof, including any chimneys and flashing, and also the valleys and gutters/downspouts. Look for damages mortar in the brick of the chimney. Look for indications that water is/isn't draining away properly, such as moss growing in spots and rotting wood/peeling paint up/under the roof edges.
If it's a brick house look at the condition of the brick: is it crumbling in spots, is there noticeable separation of the bricks around windows, chimney, etc.
Check out the grading or leveling of the lawn around the house, as that can lead water toward the home or properly away and it doesn't become apparent until after one buys and moves in to a house and it rains that the grading of the ground around a home is problematic.
What sort of material is covering the exterior of the house? Can you tell if the present exterior covering of the house has been applied over a pre-existing material in order to hide some sort of problem? Sometimes it has been, sometimes it's OK. Look at the windows. Are there signs of ongoing water damage issues, such as lots of peeling paint on the lower portions of the trim?
What sort of foundation does it have, and can you see any damage to it? Sometimes it's a big problem, other times it can be addressed, so it's not always an absolute deal-breaker.
While you're looking at the outside, look around at the adjacent neighborhood. For instance, we didn't know that there were large, barking dogs close by our home until *after* we had moved in. They've grown accustomed to us now and don't bark all the time anymore, but for a while there I thought we were going to lose our minds, as they barked at every little sound we made!
Inside: Ask if the electrical wiring is grounded (if there has been remodeling, I'm thinking it probably is, but find out for sure). If you can get in to the attic you can look for signs of water damage from the roof, but you may not be able to. If there is a basement and you can look at it, you can see the other side of the foundation and the condition of the body of the house where it joins to the foundation, the condition of the floor joists, and look for signs of rot due to chronic water problems.
Well, those are some of the biggies, at least to me, although there are many other things that I've probably forgotten. Hope this helps.

Hi Laura,

Does the house have a basement, or is it built on piers? If it's built on piers, make sure the house is not in need of leveling (doors shouldn't stick, or swing open or shut when let go, window frames should be square, and floors shouldn't slope). There is a crack in our bricks outside that we were told was minor, but it turns out it will cost $25,000 to fix with underpinning - because the bricks on two sides of the house and the footing are sinking!

Is the basement waterproof? Does it smell moldy?

Ask if the whole house has been re-wired, and if the plumbing is original or new. We didn't ask these things about our 1946 house, and we ended up with wiring with insulation that crumbled when touched. We ended up having to get it rewired urgently because of a short. And with the plumbing, if someone turns on the water in the kitchen while the shower's running, the shower stops. So check the water pressure.

How is the house heated, and how old is the heating plant? Is there any insulation in the walls and ceilings?

If the bathrooms were a DIY job, was waterproof sheetrock or villaboard used behind tiles, tubs, and showers?

Have a look at the ceilings. We didn't look closely enough, and found out too late that they're all shot and need replacing!

Old houses have so many nice character features that are completely lacking in many modern homes. As long as you don't get so dazzled by the old-fashioned charm that you don't notice the old-fashioned plumbing and electrical, you'll be OK.

Good luck!

I would add that the presence of some of these issues doesn't necessarily mean you shouldn't consider the house, only that you should be aware of them going in to the process. You can use that knowledge to negotiate an offer if you decide you're still interested.

Maybe get someone who specilizes in inspecting homes go look,When we got ours we didnt have any problems hubbys a contractor he knew what to look for.Hes a kinda jack of all trades.So we were lucky there.But theres alot to consider and if you dont know what to look for you could be in deep doo.

It's always a good idea to have a professional inspection of a house that you're serious about buying. And stay with the inspector the whole time so you know what they're looking at. This should be done when buying any house, including a brand new one, which could easily have problems.

Ask about all the major systems: electricity, plumbing, heating. What kind of shape they're in, what kind and when were any upgrades done. And look for yourself. For example, turn on the water in the bathtub and flush a toilet at the same time. Should give you an idea if there's a problem with water pressure. Everything can be fixed, but if there are serious problems then the price needs to reflect that.

Mold on the walls? That's a big problem. And maybe this one can't be fixed.

When was the roof put on? How many roofs are underneath it? Having to tear off 3 roofs to put on a new one is a much bigger job than simply adding a new roof on top of 1 old one. Or maybe the roof is in good shape? How about the gutters?

I see that you live in GA. When you find THE house, be sure to make the contract continguent on a BOTH an acceptable termite inspection and a building inspection. For the building inspection, I would spend the little extra money and hire a structural engineer. My story: before we bought our 1936 house, we looked at a 1924 home. The structural engineer we hired to do the inspection found a 1 foot depression underneath the house and a broken sill (the horizontal framing member that connects the walls to the piers). Not only big $$$$ to correct, but more importantly, why did the ground give way? Decaying tree roots? Sinkhole? Enough for us to walk (er, run) away from the deal.

Big expenses to fix in old homes are usually structural: foundation, roof, windows. As stated in other posts, check for any water or termite damage. Even replacing rotted exterior wood trim can get expensive. Check under carpeting for damage. Tap on all wood trim (may look good from the outside, but may be rotting from the inside). Any big trees need trimming/removed? This too can be expensive depending on your local market.

Asbestos was used extensively, from siding, roofing, wall insulation, electrical insulation, etc. If anything containing asbestos requires removal, it will be an expensive undertaking (permits, special handling and disposal requirements).

Be careful if DIY remodeling was done. Check your local permitting agency to make sure proper permits were secured, otherwise you may be required to bring the house up to code (even if it was done by the previous owner). Ask the owner for copies of all building permits.

I hope all these posts do not sway you from buying an older house. Newer homes will have their own share of problems - usually because of poor craftmanship and inferior materials. I will always search out old homes over newer - they are almost always built better and besides, they have much more character!