Info & Advice

For Buyers

THE IMPORTANCE OF A HOME INSPECTION

So you’ve found a house you love. Great backyard, gleaming hardwood, and the kitchen of your dreams. But what about the furnace? The wiring? Leaks in the basement? Before you buy, have the home inspected; no matter how experienced you are as a homeowner, it’s the best way to make sure you really know what you’re getting into.

 

A home inspection will give you the information you need to make an informed decision. The inspector will determine the condition of the house you’re thinking about buying, and let you know if there are any problems. (And the great thing is, the inspector doesn’t care if you buy the house or not, so you can be sure he or she is being objective, even if you’re not.) If you have to make an offer before having a home inspection, make it conditional on a satisfactory inspection.

 

If there are any problems, you have three options:

1. Walk away.
2. Use the results to negotiate a better price.
3. Give the seller a chance to fix the problem.

 

What happens during a home inspection?

The inspector meets you at the home you’re thinking of buying, and takes about 3-4 hours to carefully inspect the entire house for structural, mechanical or other issues. He or she examines everything from the roof to the foundation and everything in between, including heating and air conditioning, plumbing, electrical, insulation, roof, windows and doors, walls, ceilings, attic and basement. You can accompany the inspector as he or she goes through the home – it’s a good way to get to know the home quickly, and will give you a head-start in your home care “learning curve.”

 

The inspector then prepares an inspection report that outlines problems (breaking them down into major repairs that need to be done right away and areas that will need attention in the future, with accurate cost estimates for each), highlights good points, and gives you an idea what kind of maintenance you’ll need to do to keep the place in good shape. Make sure you ask for a detailed report that’s written in a narrative style. Never accept a verbal report or one that’s just a checklist.

 

How much does it cost?

Most inspections cost between $250 and $500. Think of it this way: a few hundred bucks could save you thousands in home repairs. It’s a pretty small price to pay for significant peace of mind.

 

How do I find a good inspector?

Look for a reputable, qualified company that has been in business for a while, can provide references from previous customers, is fully insured and offers guaranteed inspections. Inspectors should be licensed in building-related fields such as contracting, architecture or structural engineering. Your REALTOR® can recommend a reputable, objective inspector at your request, or you can find one by asking friends or by looking in the phone book.

 

When you’ve fallen in love with a house, it’s hard to see any faults on your own. Make sure the decision is a good one, and get it inspected so you can be sure you stay in love – for years to come.

 

Trademarks owned or controlled by The Canadian Real Estate Association. Used under licence.

For Sellers

SMART RENOVATIONS: IMPROVEMENTS THAT PAY

So you’re thinking about doing a kitchen facelift, putting on an addition or landscaping your yard. If you’re renoing your house with an eye to upping resale value, you may want to focus your dollars on projects that will give you the best return.

 

1. The kitchen

Kitchen renos usually offer the best return of any major improvement. Just make sure you’re keeping your update in line with the rest of the house and with other homes in the neighborhood. If you put a $60,000 kitchen into a $200,000 house, you don’t have much of a chance of recouping your costs.

 

Don’t have major bucks to sink into your kitchen? Sometimes a small facelift like new hardware, freshly painted cabinets or new appliances can make a big difference – to both your resale value and your own appreciation of the space.

 

2. The bathroom

Buyers like bathrooms that are up-to-date and stylish. Despite being one of the most expensive renos you can undertake (second only to kitchens) updating an existing bathroom or adding a new one can really boost the value of your home. If your home only has one bathroom, adding a second one is always a good idea. Or, if you live in a neighborhood where everyone else has three bathrooms and you only have two, keeping up with the Joneses can keep your property values up, too.

 

3. The basement

Finishing your basement (or your attic or any other unfinished area) can increase the value of your home tremendously. Adding living space almost always pays for itself. Plus, it’s more cost-effective than building an addition.

 

4. Additions

A well-constructed addition usually offers a good return at resale. Improvements that increase functional space (rather than just making your home look better) hold their value longer. Just be careful not to add on so much that there’s no space left on the outside; a yard that’s too small may not appeal to buyers.

 

5. Hardwood floors

Wood floors are elegant, durable and easy to keep clean. Stick with light or medium wood; dark wood looks formal and isn’t to everyone’s taste. It’s a pricey update, but you can usually recoup a good portion of what you pay for new floors – as long as your buyer doesn’t prefer wall-to-wall.

 

6. New paint (interior and exterior)

Painting your home is inexpensive, easy, and is one of the few investments you can make that will likely see a significant profit. Stay away from intense or unusual colors that won’t appeal to most buyers – tasteful, current neutrals are best. If you’re painting the outside, keep colors in line with other homes on your street.

 

7. New deck

An attractive, well-designed deck is a cost-efficient way to add usable square footage to your home, and offers excellent payback.

 

8. General improvements

These may seem boring, but overall, fixing the small stuff may increase the value of your home the most. Before you spend money putting in a Jacuzzi tub, first see if any structural or mechanical fixes take priority (like roof repairs, fixing a leaky basement, repairing doors that stick, dripping faucets, etc.) The Jacuzzi isn’t going to impress anyone if the toilet doesn’t work.

 

Improvements that DON’T pay

There are some fixes that simply don’t provide a good return on your investment.

 

An in-ground swimming pool

Since many buyers don’t want the maintenance and responsibility that goes with having a pool, installing one can actually detract from the value of your home.

 

Major landscaping

If it looks like it will require a lot of work and money to keep up, it generally won’t appeal to buyers, no matter how nice it looks.

 

Replacing heating or A/C

You may make half of your money back at resale.

 

Replacing windows and doors

If they’re old and drafty, you’ll need to replace them, but it’s an expensive repair that you won’t likely see reflected in your sale price.

 

Quality counts

Whatever improvements you decide to make to your home, don’t cut corners to save money. A poorly done reno will detract from the value of your home, especially if buyers decide they need to redo it.

 

Callout: “If you’re renoing your house with an eye to upping resale value, focus your dollars on projects that will give you the best return.”

Moving Tips

MOVING WITH PETS

Moving is tough enough on humans – imagine how overwhelming it would be if you didn’t understand what was going on. When you’re moving with pets, the boxes, the commotion and tension can add up to confused, stressed – even sick – animals. To keep your cat or dog (or iguana) calm and relatively happy during your move, all you need is a little planning – and maybe an extra treat or two.

 

Stick to a routine

Stay consistent by keeping walks and feedings at the usual times.

 

Prepare them

Let them wander around and smell boxes and suitcases so they understand that they’re safe.

 

Talk to your vet

Pick up your pet’s records, make sure all shots are up to date, and ask for a recommendation for a vet clinic in your new area.

 

Update ID tags

Make sure tags have your new address and phone number on them in case Max or Boots decides to run away. And though this may seem obvious, make sure they’re actually wearing the tags when you move. Microchipping is a bit pricier, but if you can afford it, it’s the best way to ensure they’ll be returned to you if they get lost.

 

Pick up a cat leash

Your fluffy friend may not be impressed, but it’s an easy way to keep tabs on her in the car or on a plane.

 

Get a sturdy carrier

Leave the door open a few days before the move so your pet can get used to it. Make sure it isn’t too small; your cat or dog should be able to move around comfortably inside.

 

On moving day, put them someplace quiet and safe

You don’t want your pup to get underfoot or take off through an open door. If you can’t leave pets with a neighbour or in a kennel, make sure there’s a safe “pet room” (like a bathroom) in both your old place and your new one. A few days before the move, move their food, water, toys and litter box in there. Then, on moving day, put a sign on the door that says “Cat inside, do not open,” so movers and friends know to be careful.

 

Don’t get a new pet right before a move

Wait till you’re settled before adding a new member to your household.

 

Bring stuff that’s familiar

In the new place, surround your buddy with toys, bedding and dishes that look and smell like home. Let cats explore on their own terms, and at their own pace; you may want to keep them in one room to start, and allow them into the rest of the place gradually. If you’re moving into a high-rise, don’t open the windows wide enough for an animal to squeeze through, and remember to keep kitty off the balcony.

 

Clean up accidents right away

Get rid of odors fast so your pets won’t be tempted to use that spot again.

 

Stay in a pet-friendly places

If your move requires an overnight stay in a hotel, call ahead to find one that will let your pet stay in your room with you.

 

Tips for car travel

Cats are generally not happy passengers, so keep them safe in a well-ventilated, securely positioned carrier. Don’t put animals in the trunk or in the open bed of a pickup, and never leave them alone in a parked car, especially when it’s hot out. Stop every couple of hours for a break.

 

Tips for air travel

Whether your pet is flying in the cabin with you or as freight, try to get a direct, non-stop flight to minimize travel time and handling.

 

Your pet travel checklist

Make sure you’ve packed these animal must-haves:

• Veterinary records
• Recent photos
• Medications
• Food and water
• Bowls
• Can opener
• Reusable lids for canned food
• Leash
• Plastic bags and litter box
• Paper towels
• Favourite toys

 

Travelling with a more “unusual” pet?

Fish are easy to move short distances. Just put them in plastic bags that are half-filled with water and half with air. Long distance moves are trickier, and you may want to contact an aquarium retailer to get advice. With hamsters, small reptiles and birds, keep them in their usual cages/enclosures when you travel. If you’re driving, keep the car at a warm, comfortable temperature all the time. If you’re flying, contact the airline to see what their guidelines are for transporting pets other than cats or dogs.

Mortgage Information

 

Integrity.

The quality of being honest and having strong moral values and ethical principles.

Dominion Lending Centres – Integrity Financing is a mortgage brokerage and leasing company offering free financing advice throughout the Ottawa Region – taking the hassles out of the financing process and simplifying your life.

With access to numerous lending institutions, including big banks, credit unions, and trust companies, our licensed team of mortgage agents are familiar with a vast array of available mortgage products – ranging from first-time homebuyer programs, to financing for the self-employed, to financing for those with credit blemishes.

And, best of all, Dominion Lending Centres – Integrity Financing mortgage professionals work for you – not the lenders – to ensure you receive the best products and services available in today’s marketplace.

Whether you’re looking to purchase your very first condo, upgrade to a new house, renew your existing mortgage, refinance your mortgage to free up some equity, purchase investment properties or vacation homes, or lease business-related equipment, Dominion Lending Centres has a variety of products available to meet your unique real estate needs.

Dominion Lending Centres also prides itself on being the only Canadian mortgage brokerage firm to also offer a leasing division headed up by leasing professionals – encompassing everything from financing for large industrial equipment to used vehicles to computer systems and beyond.

Contact us directly to learn more about how DLC Integrity Financing can help you with the mortgage process.