A home is a major investment, and measures should be taken to ensure that that investment is sound and secure.
Mississauga, Ontario (PRWEB) March 17, 2014
When it comes to the purchase of a new home (even if preowned), excitement usually follows. What home buyers should be aware of is that most previously owned homes that are on the market have at least one major defect. It’s obvious that the longer a home has been occupied, the higher the chance of disrepair.
This doesn’t however mean that homes with one or more defects are beyond purchase, or even that the defect or defects negatively affect home values. It just means that the home buyer should be aware, so as to be prepared to take the necessary steps if they choose to purchase the home, whether it is a major repair or upgrade.
For those looking to purchase a home, it is vital that they understand exactly what they are getting into. Search Realty advises that a home is a major real estate investment, and measures should be taken to ensure that that investment is sound and secure.
According to Search Realty, here are the seven most common serious home defects.
1. Defective roofing
2. Undersized electrical system
3. Mixed plumbing
4. Environmental hazards
5. Horizontal foundation cracks
6. Insect infestation
The good thing is that all of the above listed defects can be repaired. The bad thing is that depending on the specific problem, the cost of repair could be substantial. Substantial enough that the cost of repair could lead the home buyer into looking at other options for homes to buy.
A key for the home buyer is that if they enter into negotiations to purchase a particular house, including Mississauga Homes For Sale, their agent should provide a provision for renegotiating or backing out of the contract if a home inspector finds any major issues.
A home inspection can cost anywhere from $200 to $400. More important than cost, is finding a qualified home inspector. The home buyer should get referrals from friends, and/or speak with their realtor, to ensure that the home inspector is qualified to do the inspection.
Another important thing to remember for home buyers is that once an inspection date is set, the home buyer should be there throughout the inspection. The purpose for this is that as the home inspector examines various systems and components of the home, the home buyer can ask clear questions and ask for the home inspector to explain what problems may be encountered down the road, what signs to look for, and how to prevent them.
The bottom line for home buyers is that a pre-purchase inspection is their best protection against buying a potentially bad investment. If the home buyer goes about it the right way, using the right home inspector and getting the right information relayed to them, they can ensure that their purchase is an actual sound investment.
About Search Realty
Search Realty.,Brokerage is a real estate company utilizing the best tools and technology to serve the needs of today’s Home Buyers, Sellers and REALTORS®. Search Realty Corp. has quickly grown to 100+ websites, over 15,000 Unique Visitors per month and 135,000 Page Views per month.