Buying a home is likely the largest purchase you will ever make in your life. That's why it's so important to find out exactly what you're getting. A full home inspection will discover any deficiencies in the home, describe the impacts of them, and make recommendations on how to rectify them. It is important that these things are discovered before the purchase is complete. If a large defect is discovered (roof damage, for example), the purchase agreement can be amended to insist that it be repaired before the sale of the house is complete. Another option might be to subtract the cost of the repair from the price you'll pay for the home. Speak to your realtor to be sure. But you won't discover the defects until it's too late, if you don't have the home inspected before you buy it.
Click the link below to see the story of one family who recently agreed to waive their home inspection, but lived to regret it.