- Don’t fall in love with the house. Think rationally: is it an older house that will require extensive repairs in the near future? Is the neighbourhood suitable at different times of day?
- If there is a rental unit, don’t assume it’s legal. Always check with your lawyer, especially if you are counting on the income to qualify for your mortgage.
- Don’t choose your lawyer based on price. This is one of the biggest investments you will ever make, so remember the saying “Penny wise and pound foolish.”
- Don’t skip on searches your lawyer recommends just to save a few dollars.
- Don’t hide your intended use from your lawyer. If you want to run a business out of your house, or put in a pool, you may have restrictions. It’s better to have your lawyer investigate that early on so that you don’t get stuck with a house that won’t work for you.
- Don’t ever skip a home inspection. In Ontario, if you had the option of a home inspection and chose not to, the seller is not responsible for anything a home inspector could have found. It’s not worth the small savings to miss a big issue.
Keep these in mind, and you’ll find the house of your dreams. Happy house hunting this spring!