I'm not sure about you, but I've had many experiences throughout life, many of them avoidable, that has cost me mega dollars, valuable time and sometimes serious embarrassment!
I was recently chatting with someone who thought he did not need a Home Inspection when purchasing a house several years ago. In fact, he shared very clearly with his Realtor® that a Home Inspection was a waste of time and money. So, the Realtor® had him sign off on the Home Inspection, they closed on a house that had been vacant for nearly two years and the purchaser was happy, well at least for a moment.
The next day, the new home owners moved in, settled in and the morning after, he decided to turn on the Outside Faucet. He then walked away for a few moments, not realizing that the pipes above the garage had froze during the winter months when the house was vacant, and as a result, the new home owner didn't have just a small leak, but a Major Flood on his hands. Most of the drywall on the ceiling of the garage came down, water was actually penetrating the outside walls of the garage and was running down the street! Needless to say, it cost him a lot of money and needless energy to remedy the problem.
Lesson Learned: If you are purchasing a house, HAVE A HOME INSPECTION! A simple Home Inspection would have in all likelihood, turned up this kind of problem and probably could have been negotiated to be fixed before the close.