JUNE 2010 THE MOSE REPORT Don’t Panic! Those wise words were inscribed on the cover of the fictional guidebook The Hitchhiker’s Guide to the Galaxy in the late Douglas Adams’ BBC radio series of the same name. It is also good advice for the prospective homeowner. As home inspectors, we see many people who feel somewhat overwhelmed by the new responsibilities they are about to take on. The process of buying a home in Canada (and especially in Quebec) is often the longest and most comprehensive purchasing decision of a lifetime. And then come the challenges of homeownership itself. Invariably, questions abound Both new buyers and long-time homeowners need to know: What financing options are out there? How do I know what to expect in terms of price and valuation? What rights, protections and responsibilities do I have? What do I need to know about maintenance and environmental hazards? The questions can seem endless. I never hesitate to direct people to the CMHC (the Canadian Mortgage and Housing Corporation). With over 60 years of direct involvement in residential housing issues, the CMHC provides comprehensive and practical information on just about every facet of being a homeowner in Canada. As a Crown corporation, i.e.: government-owned and run, the CMHC is an excellent resource that doesn’t come with any sales pitch. The CMHC legacy has deep roots across Canada Founded just after the end of World War II to assist the resettling of returning Canadian soldiers into homes of their own, the CMHC has seen its mandate broaden greatly over the years. During the 1950s, the Canadian government turned to the agency as an arms-length funding tool for urban renewal and low-income housing projects. Although this part of its mandate was later removed, the CMHC’s primary focus remains as a government-backed mortgage guarantor, helping first-time homebuyers who otherwise would prove too risky to be awarded mortgages from most banks. Today, the agency describes their activities like so: CMHC works to enhance Canada's housing finance options, assist Canadians who cannot afford housing in the private market, improve building standards and housing construction, and provide policymakers with the information and analysis they need to sustain a vibrant housing market in Canada. Browse through their website and you’ll also find a plethora of useful information on a wide range of topics related to home ownership. They provide tips on everything from energy conservation and safety during floods, to advice about landscaping and ways to deter crime. This page makes for a good starting-off point: www.cmhc-schl.gc.ca/en/co/maho By putting that knowledge to bear in conjunction with a comprehensive report from a qualified home inspector, there is indeed no need for the prospective homeowner to panic. ...Unless, of course, you forgot your towel (that one’s for the Douglas Adams fans). ;-) Canadian housing markets have recovered from the low levels posted in early 2009. - CMHC chief economist Bob Dugan (May 19, 2010) Mostly harmless - The Hitchhiker’s Guide to the Galaxy’s complete compendium of knowledge regarding Earth Need a fair and accurate home assessment? We've got the expertise you can count on! You can expect: · Professional, qualified inspectors · Fair and accurate home assessments · Fast, reliable service Find out how Mose Home Inspection Services can help you be secure in your home purchase. MOSE HOME INSPECTION SERVICES SPECIALIZING IN RESIDENTIAL, MULTI-UNIT AND INVESTMENT PROPERTIES Pre-Purchase, Pre-listing, Expertise, Residential, Commercial, Industrial. Environmental assessment. Inspections in English or French. www.homeinspectionmontreal.com     www.inspectionmaison.com