Do I need a home inspection?
Buying a home is probably the biggest single investment you will make. A home inspection prior to making an offer will protect you and your investment.

A qualified home inspector will give your house a thorough examination, checking the heating and cooling system, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows, doors, foundation, basement, and visible structures of the home.

The inspector will point out the need for major repairs, identify areas that may need attention in the near future, and explain what maintenance will be necessary to keep the house in good shape. But, it is not all negative. Most inspectors are more than happy to tell you about the home's good qualities as well.

Home inspections are relatively inexpensive considering the size of the investment that you are about to make. Many people consider this a small price to pay for peace of mind.

Your Royal LePage Realtor can provide you with a list of reputable, qualified home inspectors in your area.

What is an appraisal?
An appraisal is a report containing an estimate of the value of the property. Appraisals are conducted for the purpose of mortgage lending by certified appraisers. The appraisal should not be confused with the home inspection or the market analysis.

Expense Paid
Mortgage application and appraisal fee At time of application
House inspection (optional) At time of application
Legal fees Closing
Legal disbursements Closing
Deed and/or mortgage registration Closing
Property survey (sometimes provided by the seller) Closing
Land Transfer Taxes by province Closing
Property tax adjustments Closing
Fuel adjustments Closing
Mortgage insurance Closing
Title insurance Closing

Why buy?
Two out of three Canadian families own a home – that's one of the highest rates of home ownership in the world. And for good reason. It is also a good investment. With the increase in house prices, it is all the more important for first-time buyers to get a foot on the first rung of the property ladder.

• Homeownership is the single largest source of savings for Canadian households.
• Unlike other investments, which can be quite volatile, the increase in the value of homes is relatively steady. The average house price in Canada has increased every year since 1998.
• The return on your investment in your home can be substantial.
• Homeowners can use the equity in their homes as security for other loans.
• Building equity in your first home is the first step on the property ladder. It gets you into the market, keeps you in touch with increasing house prices, and puts you in a good position to trade up to bigger and better houses as your circumstances allow.