There are genarally two inspections the builders will arrange before you move in. The first one trim inspection. Trim inspection is for you to verify all the kitchen and bathroom options, and upgrades (such as hardwood floor, cable outlet etc.) you selected at the design center. If you found something that is not what you have have ordered, let the builder know, they will make the correction for you. As you are walk through the house and check for the upgrade, also pay attention to other stuffs that is of concerned.
The second inspection is pre-delivery inspection, usually at least one week before you take prossesion of the house. Pre-delivery inspection is very important. The builder's inspector will walk you through the whole house to check everthing that is not in good order. This will also include exterior inspection. As a new home owner, you may not know what to inspect, I suggect you to read 小傻's link, as well as check out all the information from the Tarion website, they have a very complete information for new home owner. Don't expect the builder's inspector will point out all the problems for you. To be honest, I think builder's inspector will only point out something that is obvious.
We hired a home inspector for the inspection,and we were overwhelmed with all the information related to the home inspection. We did out inspection in two hours. The home inspector did his own inspection for us, while we are guided by the builder's inspector to do our own inspection. My experience is that you may not able to absorb all the information feed to you within two hours from the builder's inspector, and the home inspector. The home inspector will provide his finding to you, and you report the problem to the builder's inspector, and his/she will include the finding in the PDI form. At the end of inspection, you will need to sign the form, and keep a copy for yourself.
To be honest, we did not cover everything within 2 hours. After we took prossesion of the house, there is a 48 hour reports we need to fill out, we prepared an excel sheet, and we write down everything from the PDI form, plus whatever we found our own within the first 48 hours. We include pretty much everything such paint chips, paint misses, uneven surfaces, dirt marks, nail holes paint cracks, and etc. We had total 150 items in our excel sheet.
I think it is wroth to hire a home inspector for your PDI and one year inspection. Especially the PDI, which your Tarion warranty will be based on your PDI for warranty services.
Home inspector know the building code, whereas, I don't have the knowledge. They will ale to tell what is acceptable, and what is not. Home inspector will only focus on big item, they will not pick up small paint chips on the wall.
Start from above link 
