A homunculus is much like the other familiars that can activate magical items. They have intelligence, they are bipedal, and they share their master's ranks in Use Magic Device. They are not, however; able to speak, and this should prove a barrier.
The Alchemy Manual now provides a way to bypass this muted condition. By spending an additional 500 gp, you can have a talking Homunculus.
Unlike other Improved Familiars, a Homunculus costs over 5,000 gp. Another 500 must be spent to grant the ability to speak.
A homunculus represents a substantial gold and a modest feat investment, more so than those that can currently use wands.
If I add speech to my Homunculus, can it use wands?