Whether you are buying a 5 year old home or a 40 year old home, make sure you exercise your right to inspect the home before closing escrow. Termite damage and water damage and leaks are the most prevalent things to look for. Hire a competent professional for an overall inspection, and if you have concerns about mold or other issues, hire an inspector who specializes in those types of inspections. You can minimize your risks and minimize surprises after you move in. You can also purchase a Home Warranty through escrow to protect you from these “surprises” that almost always happen during the first 12 months after closing.