A home inspection is an invaluable part of the home buying process. It can go a long way to protect your real estate investment.
A home inspection — which generally costs between $300 to $500 — is a visual inspection of a property that can alert you to potentially serious problems with a home’s physical condition before you close on the purchase.
Not all Canadian provinces require a home seller to disclose information about problems with their property to interested buyers; without a professional inspection you may be in for costly surprises after the home has fallen into your hands.
The inspector will examine all elements and systems in the home, including the electrical, heating and cooling systems, the plumbing, walls, ceiling, roof and all windows and doors; they will look at the basement, attic and insulation; in addition, all structures of the house will be visually inspected.
The inspector will make note of any hidden flaws and should provide you with a written estimate of any repairs that need to be completed immediately. You should come away with a clear idea of what repairs should be done in the future and an understanding of what it will roughly cost to maintain the home over the next few years.
If a problem does arise, you will have the opportunity to have it addressed and fixed (at the cost of the owner) or have the purchase price adjusted.
To find a professional home inspector, contact the Canadian Association of Home and Property Inspectors in your province. For more information, visit www.cahi.ca.