(NC) - For many of us, our home will be our most significant asset. Therefore, it makes sense to employ the services of top-notch professionals when setting out to buy. Referrals from friends, family, or other housing professionals are always a good place to start looking for these key players:
If there had been a pre-listing inspection, he would still have them in a row.
Shortcuts are like chickens; they always come home to roost.
A third of Canadians say they're "house poor" and twenty percent regret their purchases.
Buying a house should be more exciting than stressful, and in a more typical real estate market, home inspections have helped both homebuyers and sellers understand the condition of a house – and what should be expected in terms of repairs and maintenance.
(Cityline Toronto) VIDEO: Building inspector Frank Gruszewski shows you the key areas and potential issues he looks for on a home inspection job and why you should never skip it. "It could be the most expensive 4 to 500 dollars you ever save."
Courtesy of Carson Dunlop
THE 1% RULE
When you consider the life cycle of every component of a house, a reasonable annual estimate of the cost of normal maintenance is 1% of the value of the house. One year you may replace the furnace; a few years down the road you may re-surface the roof. Throw in the odd unexpected repair in between and you average 1% per year. It’s incredible but this rule is not far off, both for very expensive and very inexpensive houses.
Examining the quality and consistency of home inspections
You’ll save time and money!
For most of us, owning a home is not a “Spectator Sport.” Many homebuyers, especially first-timers dive into homeownership with little or no thought about who’s going to look after the day-to-day needs of their home. Unless you’re quite well off, paying other people for general maintenance, upkeep and repairs can quickly drain a family budget.
You’re a Realtor and shortly after closing, your buyer calls to tell you the Electrical Safety Authority (ESA) was just at their door demanding to inspect the new basement wiring…
Gil Strachan is a professional home inspector, representing Electrospec Home Inspection Services in east-central Ontario since 1994.