Ignoring facts, doesn't change the facts. So, find your dream home, do your homework and be vigilant in your endeavours:
Find a qualified professional mortgage broker / specialist who will not only pre-qualify but pre-approve you so you know ahead of time what you can afford to buy. They'll explain what insured high ratio mortgages are and lock-in your interest rate while you're shopping for your dream home.
Avoid surprises. Full disclosure of defects known by owners / vendors, Realtors® and others is encouraged. Although Realtors® are not home inspectors, they have seen many houses and take courses on home construction. As a result, they have considerable knowledge and can be very informative & very useful when it comes to pointing out potential concerns with a home. Of course, those items the Realtor® is unaware of, or has no knowledge about, can always be deferred to a home inspector.
Use vendor disclosure forms or seller property information sheets (SPIS) to increase the buyer's knowledge about a house, reduce unknowns and lessen any skepticism.
Ask questions to ascertain more information about the home, for example:
What remaining warranties / guarantees might be available to the buyer regarding the materials and workmanship in the home e.g. windows, doors, shingles, garage door openers, flooring, appliances, devices, foundation wall crack repairs, etc.
Confirm what the current utility costs are for the home through invoices. Keep in mind, these will fluctuate based on personal preferences / usage also.
Talk with rural neighbours about area wells e.g. water flow / quantity, water quality, etc.
Find out what owner's manuals, material / installation specification sheets and booklets are available to you regarding the systems, components or items in the house for future reference e.g. furnace, air conditioning, thermostat, appliances, security / alarm system, windows, doors, shingles, garage door openers, flooring, devices, etc.
Learn what work has been carried out to the home that is not "original to it" (if any) and whether or not appropriate permits were obtained, if required, including the "final" inspections from the authorities having jurisdiction over same e.g. building permits from the municipal building department, electrical permits from the Electrical Safety Authority (ESA) etc.
Find a professional Realtor® who will refrain from saying nothing about a home's condition. Similarly, avoid Realtors® that merely guess or undermine the seriousness of a home's condition, as doing so will likely only exacerbate matters when the house gets inspected.
Find a qualified professional insurance broker / agent and ask how they might rate the house for insurance purposes. Ask them if they will come out and see the home to determine if any alterations / modifications might be required to the home for insurance purposes. Ask if they can "bind coverage" for you at the quoted rate.
Find a qualified professional appraiser to value the home to ensure you are paying the proper price for it based on its condition with comparable homes. Just because you're qualified for a mortgage or can afford the payments does not mean you are paying the right price for the house. If you're planning on making improvements to the home, ask the appraiser what impact it might have on the home's value and the mortgage you are obtaining.
Find a qualified professional lawyer who will make your real estate transaction go smoothly by explaining things like what the fees and disbursements will be (e.g. land transfer tax) and how you go about getting the keys to the home on closing day.
Find a qualified professional mover that will provide you with a quotation to move, tells you waht is required of you, the benefits of having the mover pack things up, explains insurance coverages and the best times to move you.
