Considering that the purchase of your home is the largest purchase you'll likely to ever make, I believe that it makes sense to have the property inspected. A typical inspection costs $300-400 and takes between 2-3 hours of time. Although it may seem like a considerable sum of money to spend, it can save you much more in the long run.

I've been present at home inspections where we find the furnace heat exchanger is cracked (requiring replacement, cost up to $2000), or the roof is leaking (several thousand). Given the severity of these costs, we then will either ask for the seller to fix, walk away from the deal, or negotiate a lower price.

The home inspection is not meant to find cosmetic damages, but serious items that impede the property's ability to safely house it's residents or items that will need repair.

Although, I will recommend specific home inspectors, I believe that all home inspectors should belong to the Canadian Association of Home and Property Inspectors and/or have other professional credentials. CAHPI and other similar organizations help to ensure that who inspects the home is qualified to do so.

I endeavor to be present at all home inspections to assist in any way possible. It is not necessary that you are present, but it is highly advisable. The amount of information that is conveyed verbally and physically shown cannot be fully encapsulated in the written report and photos presented to you at the end.

In essence, I believe that in most instances (not a brand new home and some condos), a properly conducted home inspection is an asset to home purchase, gives peace of mind, and is money well spent.