5. Inform yourself of all the applicable taxes on your home purchase, including GST (5% on new or substantially renovated     homes) and Provincial Transfer Tax (PTT) (1% of the first $200,000 value of the home, plus 2% of the balance)

6. Have home insurance purchased and effective as of the day of completion of your purchase (when the transfer of interest and     payment of the purchase price happens), not on the day of possession (when you get your keys).

7. Inquire as to whether the home was once a farm property, or whether the lot or the surrounding lots were ever used as a gas     station, so as to protect against the possibility of having a septic tank or oil tank or contaminated soil, on your property

8. Inform yourself as to what is covered under the National Home Warranty Program for newly built houses as there are time     limits for certain repairs

9. Inquire whether or not you would require title insurance on your home to protect against hidden title defects, fraud, rights of     ways, or septic and oil tanks. For more advice, please contact Iven K.S. Tse