There’s no money-back guarantee or return policy a buyer receive if your not satisfied with your recently purchased home. Once you buy a home, you’re on your own to maintain it, repair it, anticipate problems and pay the bills.  One of the best ways to understand about a home’s condition, habitability and safety is to hire a professional home inspector. Be sure to keep all your documentation in a safe place.


What To Expect From a Property Inspector

Review your house as a system. The home inspector will provide a visual inspection by looking at the home’s various systems, including interior and exterior components. Some items the home inspector will review:

  • Exterior – roofing, flashing, chimneys, gutters, downspouts, wall surfaces, the foundation and the grading around it.
  • Interior – electrical, heating, air conditioning, ventilation, plumbing, insulation, flooring, ceiling, and wall finishes, windows and doors.


Answer any of your questions. The home inspector should be willing to answer any questions a buyer might have and to clarify the limitations of the inspection to avoid misunderstandings. A proper home inspection does not include appraisals, exact quotes for repairs, compliance with building code requirements or warranties.  A home inspection is intended to help you make an informed decision about buying your home.

Provide you with documentation.  A pre-purchase inspection for a 1800 to 22 sq. ft home typically takes a about three hours and costs approximately $500. The buyer is presented with a written report, consolidating the details of the inspection. CMHC recommends that the potential buyers accompany the inspector as the inspection takes place.  It can be valuable learning experience.


Buyer Costs

On top of the purchase price of  the home there additional buying costs that need to be considered and calculated in to your budget or GREEN FILE. Be sure to keep all your documentation in a safe place. Things to consider in your budget are:

Appraisal Fee – Your lending institution my request an appraisal on the property and can vary in price from $175 – $300.

Property Taxes – Depending on your downpayment your taxes may be included in your monthly mortgage payments.

Survey Fee – Your lending institution may request an updated property survey if you purchase is a resale. Price can vary from approximately $700 – $1,000

Property Insurance – Your lending institution may require proof that you are insured as it protects their investment on the loan.

Service Charges – Utility services and hook up such as telephone or cable may require an installation fee.

Mortgage Brokers Fee – Some mortgage brokers can charge a fee for sourcing a lender and organizing the financing however, shop around some may provide the service for free.

Maintenance Fees – Condos and townhouses may charge condo fees for common area maintenance.

Local Improvements – Some locations may charge for local improvements such as additional sewers or sidewalks. This could impact buyers’ property taxes.

Land Transfer Tax – Whenever property changes hands a tax is applied. Pricing can vary.

Legal Fees – To receive “free and clear” legal title and transfer of land and mortgage at the Land Titles Office lawyer services will be required. Pricing can vary.