What is a building permit? A building permit in Toronto is a document granting formal permission to begin construction, demolition, addition, or renovation on your property. In order to obtain a building permit, an application must be made, and reviewed by the Toronto Building staff (or municipality of your area) to ensure that it complies with the Ontario Building Code, Zoning bylaws, and other Applicable Law. This can be a lengthy and sometimes costly process, made up of three main stages: open, inspection, and closed. When purchasing a newly renovated or constructed home, it is important to ensure that all of such permits have been placed in the “closed” stage of the process.
Although this may seem like an excessively cautious recommendation, it is important to ensure that building permits have been applied for and complied with on prospective homes. Even if you’ve hired a home inspector as part of your buying process, such inspectors only complete a visual inspection for inconsistencies. In comparison, a city inspector working on building permits would check the home during various stages of renovation, and ensure that the work is completed to government standards. By ensuring that the building permits have been complied with, you are saving yourself from potentially costly repairs later on, as well as ensuring that the existing structure you’re purchasing is legal.
Keep in mind, not all renovations require permits – cosmetic changes and existing structures are generally exempt from the building permit process.
Also, this does not mean that all homes built or renovated without permits are going to be structurally unsound or illegal, but the simple step of ensuring building permits can alleviate stress during the buying process of your home.
Have you sold or are in the process of selling your home, and now can use an advance on your equity before closing day, perhaps you need money for your new purchase deposit? Or to fund your renovations before sale? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.