I would look at this as a practical matter. That is if you have your heart set on the area and an older home is the only option.
Look at the structural integrity of the home, what type of plumbing does it have (materials used), and what condition is the electrical in? What condition is the heating/cooling in?
i would then set aside moneys each month for unexpected repairs.
There are additional inspection techniques and tools that can be used such as optical cameras that can scope underground sewer lines for cracks or damage. Old wires might have been compromised by rodents. I've seen 20yr old homes with a 220 power cable eaten completely through by rodents. They ate the plastic casing.
Home inspections are usually considered "general" inspections. Meaning they dont look at every little thing. They are there to get a general sense of the condition of the home. That is why I would set up a repair fund for an older home.
Additionally, we also have a list of great handyman helpers if you would need one. They are very reasonably prices.
Bottom line: Get a respected home inspector that will give you a good idea of the general health of the home. Make sure you get the main systems of the home in good repair (roof, heating cooling, electrical, and foundation/structure). Have a home repair budget and/or update account. This type of account will also help you keep the home updated for a better resale value.
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