During the buying process, the inspection report mostly felt like a tool for negotiating with the seller. Once the keys are yours, it becomes something more useful, a detailed map of what your new home needs.

Many buyers file the report away after closing and forget about it. That's a missed opportunity. Inspectors often note minor issues, such as loose railings, missing caulk, aging roof sections or poor drainage near the foundation, that are relatively cheap to address now but can become expensive if ignored.

Go back through the report after you move in and sort each item by urgency. Safety concerns and anything involving water should usually come first. Next come items that could get worse over time, followed by cosmetic issues that can wait. Get quotes from qualified contractors for the larger jobs, and tackle the smaller ones yourself if you're comfortable. Revisiting the list every so often helps you track progress and plan your spending.