What to Expect During a Home Inspection

A home inspection is a vital part of the buying process. It protects you from unknowingly purchasing a house that has serious deficiencies-and thereby turning what was initially a dream home into a nightmare.

So what actually happen during a home inspection? Here are a few snapshots of what to expect.

• There is no quick way to properly inspect a house. A thorough examination by a qualified home inspector will take at least two hours, and possibly longer.
  
• Don’t just wait around. Accompany the home inspector during the examination.
  
• Expect the inspector to check the house inside and out;, top to bottom. The inspection should include a trip to the roof, a visit to every room in the house, a crawl into the attic, a look inside electrical outlets, and more. (If all of these are not done, ask why.)
  
• An inspection is a lot like a doctor’s examination. It should check every system of the house for potential problems: structural, electrical. Heating, cooling and roofing. Ventilation, grading (to ensure that water drains away from the house), and plumbing.
  
• Ask questions during the inspection. Learn all you can about the maintenance of the house, what needs to be repaired and other issues. If there are problems, find out if they are serious or relatively minor.
  
• When the inspection is complete, you should receive a comprehensive written report. If you don’t understand something, don’t hesitate to ask.
  

There are several options for dealing with deficiencies, including asking the seller to make required repairs or asking to renegotiate the price based on the cost of repairs.

Selling Your Home? Consider a Pre-Sale Inspection

A home inspection isn’t just useful when buying a home. It can be invaluable when selling one too.

A home inspection can detect previously unknown problems that you may wish to address before putting your house on the market.

For example, let’s say an inspection reveals that there is a small crack in the foundation. Getting this fixed in advance could help prevent the “buyer turnoff” or price reduction that could result if the buyer’s inspector were to discover the problems first.

Selecting the Right Neighbourhood

Choosing the right neighbourhood is just as important as picking the right home. Perhaps it is even more important.

After all, you may be able to renovate a kitchen but you can’t move a nearby bus stop, or make a playground magically appear within walking distance.

The neighbourhood you choose to live in has a huge affect on your lifestyle and that of your family. So it’s important to take as much time shopping for great location as it is a new home.

Hobbies and Hangouts

Imagine that you’re looking for your net home. You drive into a neighbourhood, and it looks beautiful.. There are plenty of trees, well-kept homes, and parks nearby. What more could you ask for?

In addition to the usual characteristics of an ideal neighbourhood, it’s important to make sure it also fits your unique lifestyle – and that of your family. For example, is the area reasonably close to upscale restaurants where you and your spouse can enjoy dinner? Or, is there an indoor recreational center where your daughter can continue her swimming lessons? Or a golf club where you can refine your swing?

The closer a neighbourhood is to hobbies and hangouts, the more ideal it will truly be.

Take a Walk

Once you have toured a house that interests you, take a walk. Explore the neighbour hood. Get a sense of the atmosphere, community an personality of the surrounding area.

Is the street relatively quiet? Or, is it a main throughway for commuters into and out of the neighbourhood?

Stop and listen. Is there a lot of ambient noise from traffic or other sources?

What about local amenities. Find out about parks, playgrounds, community centers, and shopping. These can be very convenient if located nearby.

Do you have kids? Then you’ll also want to learn about the local schools. Are they within walking distance? If busing is required, where do your kids meet the bus?

Ask Questions

If you see any neighbours while exploring the area, chat with them. You could simply say, “Hello, we’re considering buying a home in this area. May we ask you a couple of quick questions about your experience living here?”

You’ll spend as much time in your neighbourhood as you do inside your home. So get to know it, before you decide to make an offer.

Signs of an Improving Neighborhood

Buying a home in a neighbourhood that is on the upswing can be a very good investment. both financially and in terms of lifestyle. As the area improves, the home values will likely increase. In addition, the people who live there will tend to enjoy their properties and surroundings, and continue to invest in them.

So how do you determine if a neighborhood is improving? Here are a few signs to watch out for as you shop for a new home:

• Home Improvements. Look for indications that home renovation or remodelling projects are being done in the neighbourhood-contractor sings on the front lawns...tradespeople’s trucks parked in the driveways... building supplies being delivered. When homeowners spend money to improve their homes. It show that they are happy enough with the neighbourhood to invest in it.
  
• Landscaping. Notice how well the homeowners take care of their home exteriors. Are the shrubs pruned? Are the driveways swept? Are the lawns mowed and relatively weedless? Homeowners who keep their landscaping well-maintained tend to also care about the surrounding area.
  
• Real Estate Activity. Look for “Sold” signs on the lawn. This may mean that the neighbourhood is in demand. By contrast, lots of “For Sale” signs could be an indication that people are trying to move out of the area.
  
• Commercial Investment. When there are a lot of nearby shops and restaurants under development, there is a strong indication that business owners have faith in the area. If, however. You see a lot of “For Lease” signs on empty stores and building, this may mean that these businesses have moved onto greener pastures.
  

All the above signs are l of course, Just indicators. You should research the neighbourhood thoroughly to understand what it may be like in five to ten years.

Mortgage Payments Can be Deceiving

You see a great home. You pull out your mortgage calculator and start punching in the numbers. The estimated monthly payment is displayed on the screen. You think, “Yep we can afford that!”

Can you?

It’s easy to be seduced by a mortgage payment calculation. However, mortgage payments aren’t the only costs of owning a home. You also need to consider:

• Property taxes
  
• Home insurance premiums
  
• Electricity costs
  
• Maintenance (especially a factor in older homes.)
  
• And more
  

If you don’t you could end up spending hundreds of dollars more per month than you originally expected.

Call today for help calculating the true cost of home ownership.