Your first line of defence in avoiding a bad property investment is the home inspection report. To get the most out of this report you need to do two things: Be present and ask questions.
While a recent announcement by the Ontario Minister of Government and Consumer Services will see the introduction of laws to establish minimum standards for home inspections, this doesn’t mean a homebuyer can neglect their own due diligence. This new legislation proposes to set minimum licensing standards for the roughly 1,500 home inspectors that work in Ontario, and will include a regulations on what information needs to be disclosed to home buyers, as well as regulate the language inspectors can use in their contracts.
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