"Buying a house for $30,000 below market value doesn't mean much if you have $40,000 in necessary repairs," says Todd Hills, CEO of pawn-store website Pawngo.com. Use the home inspection to calculate how much the repairs will cost and to be certain you can pay for them, especially repairs that can't wait, Hills says. Avoid buying more house than you can afford by preparing ahead of time, he adds. Determine the maximum you will pay for the property before you go to an auction.