Before buying any home, check the exterior of the building. If it looks neglected, the rest of the building probably is as well. On the other hand, do not let yourself be swayed by fancy trimmings.

Check the home's electrical system. Is the control panel equipped with a fuse or a circuit breaker system? How old is the plumbing system? Is the building connected to the municipal sewage system or does it have its own septic tank and leach field. You must consider all these aspects to determine the home's real value.

Your decision to purchase a home may depend on the results of a building inspection. The building inspector will provide a detailed written report on the state of the property. If applicable, the report will include the estimated cost of repairs.

To choose the right building inspector, demand references and ask about the type of training received. In Quebec, building inspectors are not required to be engineers or architects, nor are they regulated. Make sure your inspector has liability insurance. If the home's value is $300,000 or less, inspection costs can range from $150 to $400. For a list of Quebec Association of Building Inspectors members, call (514) 234-2104 in Montreal, or send an E-mail to http://www.inspecteur-immobilier.com.

If an asking price seems steep compared to market trends, you can have the home appraised. For a $200 to $400 fee, a certified appraiser will provide an expert examination of the home's true value.

Before meeting at the notary's office to sign the deed of sale, it might be wise to have a last look at the home. After all, it will be yours soon enough. Make sure all conditions have been met (roof repairs, etc.). If the property is not in the state in which it should be, you can still do something about it.

If you can afford it, avoid unnecessary mortgage charges by making a down payment superior to 25% of the home's purchase price. You can also contract a mortgage equivalent to 75% of the purchase price and obtain a personal loan to cover the difference. This way, you will avoid mortgage insurance premiums. On the other hand, personal loans have higher interest rates than mortgage loans.

Interest rates may vary from one financial institution to the next. Can interest rates be negotiated? Yes, to a maximum of 1% under the preferential rate. If an institution is unwilling to negotiate, take your business elsewhere.

One-year mortgage terms are preferable to five-year terms. With interest rate differences of approximately 2%, evidence has shown that you will save money if you choose shorter rather than longer terms. If shorter terms seem risky to you, settle for the five-year option.

Choose your own notary. His first loyalty will be to you and not the vendor. Contact the Chambre des notaires, at (514) 879-1793 or 1-800-361-5201.

Check the validity of the vendor's certificate of location. Certificates are usually valid for a 10-year period. If the vendor has made modifications to the building or grounds in the last 10 years (adding a fence, a pool or a shed, etc.), a registered land surveyor will have to prepare a new certificate.

If you buy a recent home, the contractor's warranty may still be valid. Make sure to ask the vendor.

Moving… it's like camping! You need to be prepared. Stuff a large bag with all the usual necessities : tooth brush, glasses, disposable utensils and cups, change of clothes, etc. Once you've moved in, you will have immediate access to all those things you need to survive!