If you're buying Palm Beach real estate and are deciding on a home inspection, kudos on making a smart and important decision.  It’s always best to know what you’re buying beforehand and a home inspector does a very good job of highlighting potential problems or defects…at least those that can be readily seen by the naked eye.

It’s that whole “readily seen” thing that you should be aware of.  Home inspectors will obviously inspect the pipes and such of Palm Beach homes but you won’t necessarily see them checking underground pipes, septic tanks, or even getting on the roof to check for possible damages.  Particularly with roof repairs, you may wish to ask the inspector beforehand how he or she will evaluate it; roof repairs can be quite costly.

You may also wish to evaluate who will be inspecting your home if you’re using those recommended by your Palm Beach realtor.  There are a few cases where the inspector’s allegiance is more on assisting the agent with snagging a sale which means some defects may go overlooked.  On the other hand, reputable agents will suggest the best inspector in the area who will point out all defects even if it means potentially losing a sale.

Do your research thoroughly before settling on a home inspector, it could end up saving you hundreds or even thousands of dollars.

A designated Palm Beach landmark since 1979, the house at 920 S. Ocean Blvd. is known as much for the family who built it as it is for its architectural style. Casa Eleda was built for one of America’s great families. Maurice Fatio designed the house for Mortimer L. Schiff (1877-1931) and his wife, Adele Neustadt Schiff (1879-1932), who took the house’s name from the reverse spelling of Adele Schiff’s first name. The architect’s daughter, Alex Fatio Taylor, always wondered about her father's inspiration for one of his most unique designs. “Don Curl once mentioned that while in Zurich he noticed a very similar-styled brick-and-stone-layered building near the Polytechnic where my father studied architecture,” Taylor said. “It might have been Judge [James R.] Knott who first called it the ‘ham sandwich’ house in one of his Brown Wrapper [newspaper] articles,” she said. “Far preferable than the ‘ham-and-cheese’ house, as some insist on calling it today.” The Mortimer Schiffs were part of the New York-Palm Beach cottage colony set and were among the earliest members of the Bath & Tennis Club, along with Mortimer Schiff’s business partner, Otto Kahn. In 1934, the Schiffs’ son, John, married Edith Brevoort Baker, the daughter of George Fisher Baker Jr., merging two of the nation’s formidable banking families. A director of numerous companies, Mortimer Schiff, as did his father, valued his charitable endeavors, serving as president of the Jewish Protectory Society, treasurer of the Hebrew Technical Institute, trustee of the United Hebrew Charities and, at the time of his death, president of the Boy Scouts of America. By AUGUSTUS MAYHEW Special to the Daily News Augustus Mayhew is a local historian who also writes for the ‘New York Social Diary.’

For first time buyers considering a Palm Beach real estate purchase, the age old question remains: should I buy or should I not buy a home?  Every situation is unique and homeownership is a huge step in one’s life that needs to be thoroughly evaluated as it usually requires a long term commitment.  So how should you go about deciding?  We’ll briefly discuss some of the perks.

To this day, owning Palm Beach homes is still considered the largest source of building wealth thanks to home equity, existing market conditions notwithstanding.  Generally speaking, your home gains about six and a half percent in appreciation each year which can translate into a considerable amount if you’ve made a fifteen or thirty year commitment.  Don’t forget there are also the various tax perks that you receive as a homeowner.

Putting aside monetary gains however, you may surprised to know that owning property like Palm Beach homes can actually contribute to your overall well being.  Homeowners are generally happier despite the added responsibilities and it’s great to be able to customize your residence to reflect your own tastes and personality.

The important thing to remember is that you shouldn’t purchase Palm Beach condos or any home just because prices are unusually low.  Take some time to understand what you’re getting yourself into and whether it’s the right decision based on your situation.

Although architectural details, wall and floor coverings, modern conveniences and many other factors are important in the buying decision, the focus of a home inspection is on the structural, mechanical, electrical condition of the property.

The transaction has made it through almost every hurdle, but a potential deal breaker still lurks – the property has to make it past a home inspector. Buyers typically request an inspection to determine the condition of the home just prior to closing. Things that may be uncovered during the inspection may force costly repairs upon the seller, or, in the case of extreme neglect, may cause a deal to fall through.

The inspection is designed to give the real estate agent or prospective purchaser a system to detect some of the readily accessible major flaws or deficiencies in the significant components and systems of a home. 

Improper Electrical Wiring

One of  the most serious problems often stems from faulty wiring done by owners or unqualified contractors. A host of issues are often found, such as insufficient electrical service to the home, inadequate overload protection or wires tied together with out being housed in a box.

Plumbing Issues

Dripping faucets are literally money down the drain. There is no excuse for ignoring a drip that often can be fixed by replacing a 50 cent seal. Corroding or miss matched piping materials, faulty fixtures, and improperly installed hot water heaters are sources of common plumbing troubles. Rocking toilets cause by loose bolts in the floor – can cause water damage to the floor and ceiling below.

Poor Overall Upkeep

Cracked, peeling, or dirty painted surfaces and broken fixtures or appliances can signal overall neglect. Decayed caulking around doors and windows may be more than just an eyesore; it can compromise the efficiency of your heating and cooling systems and needlessly hiked up utility costs. 

If the seller has taken care of the home and paid attention to the maintenance details there should not be any problems and the sale should proceed smoothly for all parties involved. 

If someone were to ask you the value of your Palm Beach homes, what would you tell them?  Every homeowner has a number they feel properly reflects the value of their home, the reasoning as to how they arrived at that number notwithstanding.  On the other hand, if you don’t have a clue as to what your home value is, there are a number of resources you can use at no cost to get a better idea.

Any homeowner who wishes to sell Palm Beach real estate has to take the time to find out what properties within their neighboring area have actually sold for.  It’s perhaps one of the most reliable methods of determining a realistic current value.  Alternatively you can look at expired listings, which are exactly what you think they are: properties that did not sell.  In most cases an expired listing fails to sell due to an unrealistic price so use that as a guideline of how not to price Palm Beach homes.

Another method is to think like both a seller and a buyer.  If someone were looking to purchase your home, how would it stack up against other Palm Beach condos or homes in the same location?   Consider what a buyer is looking for nowadays and what features sell.  On that note, adding features (without driving up the cost too much) or cosmetic improvements can significantly add value.  A Palm Beach realtor is very useful in making suggestions that will boost your property value.

For reasons that remain largely unknown to this day, the spring buying season tends to kick into gear after the Super Bowl has come and gone.  Because the springtime tends to be the busiest for markets like Palm Beach real estate, it’s also when homeowners decide to stick those For Sale signs out on their front lawn.  If you’ve never sold a home or haven’t done so recently, you may not want to wait too much longer.

With the upcoming spring season there is likely to be a huge wave of new Palm Beach homes appearing on the market, homes that will essentially be competing with yours to snag that much coveted buyer.  These include homes that were taken off the market during the fall to the latest foreclosures and short sales offering heavy discounts.  In other words the longer you wait, the more time can potentially work against you.

In such scenarios you may find that a Palm Beach realtor will strongly suggest taking a look at what other Palm Beach homes are actually asking for as opposed to relying on sales numbers.  These self determined asking prices by neighboring homeowners aren’t always the most accurate since most feel their homes are worth more than they actually are but they can be useful.  Take some time to devise a competitive but sensible price, just don’t take too much of it.