Due Diligence: Inspections and Insurance

What a home inspection is

An inspection uncovers issues that would otherwise stay hidden and produces a written report. Be present if you can, so you can ask the inspector questions directly as they work.

What the inspection period means

During the inspection condition, you have the right to have the property professionally inspected. If the report raises issues, you can ask the seller to complete repairs, reduce the price or provide a closing credit. If no agreement is reached, you can walk away within the condition period.

Book inspections immediately after acceptance so there is time to negotiate before the condition expires.

The home looks fine — do I still need one?

The costliest problems are the hard ones to see: leaks, foundation movement, poor ventilation, faulty wiring and failing appliances. In Guelph's older housing stock, wiring, insulation and basement moisture are worth a professional eye. Insurers also look favourably on buyers who obtain an inspection.

Types of inspection

• · Standard — heating, cooling, plumbing, electrical, roof, attic, insulation, walls, floors, windows, doors, foundation and structure (approx. $450–$550)
• · Infrared — thermal imaging that reveals heat loss and hidden temperature differences (approx. $550–$650)
• · WETT — certified inspection of wood-burning fireplaces and chimneys (approx. $180–$300)
• · Well and septic — relevant for rural properties around Guelph and Wellington County (approx. $650 each)

Home insurance in Ontario

• · Basic — the cheapest option; covers only perils named in the policy
• · Broad — a middle ground; named perils on the structure, comprehensive on contents
• · Comprehensive — all-risk coverage, except what the policy specifically excludes

Ontario premiums are shaped by the home's age, property type, replacement cost, flood and theft risk for the location, and construction details. Rates vary between companies, so it pays to shop around before closing.

Costs listed here are typical ranges only and change over time. Confirm current pricing with the inspector and insurer.