Why a New Home Buyer Should Not Rely on the Former Buyers Home Inspection Report

Not all home buyers end up closing on the home that they put an offer on. Things happen and deals do fall through. This happens for several reasons. The top reasons are financial approval fell through, the seller and buyer got along poorly, the sellers decided not to sell the home, and the condition of the home was worse than the buyer originally thought it was.

Once the home purchase has been cancelled the first home buyers usually look at other homes. The sellers are now left to hope another buyer comes along. The home inspection report is often shared with the real estate agents and the seller. Erroneously this home inspection report is sometimes shared with the new home buyers. This is an error for a couple of reasons.

The first reason is because the second buyer has no contract with the home inspector or the home inspection company. Because there is no agreement/contract if the second buyer has an issue with the home claiming that the home inspector missed a major issue there is zero responsibility for the inspector to take care of them. There was zero legal obligation.

Another reason is that the new home buyer was not present at the inspection and therefore has not idea what conversations the former home buyer and inspector had. This can be vital information. Sometimes in the inspection agreement the buyer request somethings not be inspected so the report is not as whole as the new buyer may believe.

The last reason I am giving here for not relying on the home inspection report created for a previous home buyers has to do with your warranty. To help sell homes agents and sellers will often buy a home warranty for the new home owner. However most home warranty companies will not repair a lot of your issues if you did not have a home inspection completed for you. I spoke with a home warranty rep and they do depend on the home inspection report to determine if items such as your furnace or air conditioner were working when you bought the home. If you do not have your own inspection report to verify that things did operate when you bought the home then you are out of luck and the warranty company will not pay to fix your broken stuff.

If you are buying a home that was previously inspected then you need to have your own inspection done to be protected as fully as possible. If anyone tells you that it is fine to use the previous home inspection report they are wrong. Your are not protected well at all. When Habitation Investigation does a home inspection the client has the ability to get an 18 month warranty for the fee of 12 months. Habitation Investigation also provides warranties such as sewer line protections, 5 year roof leak warranty and 90 day warranty on structural and mechanicals. All those things are there for the home buyer if Habitation Investigation does the inspection for the clients who buy the home.

New Homes – Reasons Homeowners Prefer Them

When looking at homes, a potential homeowner would prefer to new homes over existing homes if they can afford them for several reasons.

Design their dream home

If a homeowner had the choice of designing their home or settling for an existing property, most would choose to design a new one. In new homes, you would get to select which countertops, cabinets, flooring, appliances, light fixtures, color of paint, and more. This home would reflect your style and not someone else’s style.

Floor plan and layout

In a new home, you could choose if you want a one or two story home, where you would want the kitchen to be and how large you want the room, do you want a master bath off the master bedroom, do you want a basement, where will the bedrooms be located, attached garage, and more. With new homes, you can design it the way that fits your needs and taste.

Under warranty

Buying an existing property most likely has things that will soon need replaced. With a new home, it and the products that comprise it are under warranty, as they are all brand new. It should be a while before anything needs replaced. For example, if something should happen to the water heater under normal usage, to fix or replace it is covered under the warranty.

Cost and energy savings

New homes today are more energy-efficient that homes that were built ten or more years ago. Your new home will have energy-efficient appliances, energy-efficient windows that are double or triple pane, and more. Older homes may be drafty and not as cost savings as a new home and have older outdated appliances and HVAC systems.

Community amenities

Today new homes are built in subdivisions and communities that offer a pool, clubhouse, fitness center, and more. Older homes are built in neighborhoods and subdivisions that do not offer these amenities.

Safety

In new homes, you will find state-of-the art circuit breakers that do not seem to blow every time you plug in or turn on an appliance. Garage door openers now come with infrared beams that will stop the door from closing if a child or something is too near the door. New homes also have high efficiency air conditioners and furnaces that have less of a chance to produce carbon monoxide. New homes also come with smoke detectors and possibly carbon monoxide detectors. The paint used on the walls is lead free. Many times a new home will be equipped with a top line security system. Most of these things are not offered when you purchase an existing home.

With new homes, you have a home that is your dream home and reflects your style and taste.

Make an Old Home New With a Home Renovation Contractor in Brampton

Buying a home in Brampton is no joke. Home prices are high in the ninth most populous city of Canada. Because of high population and proximity to Toronto city, Brampton has witnessed an exponential rise in real-estate prices.

If you are interested in buying a home in Brampton, you must consider different costs such as mortgage, insurance, repairs and maintenance. Also, do not be in a haste to make a decision. You may want to buy a new home because you like the feel of a brand new property. But, escalated real-estate prices in the Peel region are making things difficult for home buyers. According to thestar.com, Brampton home prices rose by 17 percent in 2016. So, if you buy a new property, you will have to part ways with a large amount of money.

Buying an Old Home Makes Sense

When you want to make a real-estate purchase, consider old homes because of the following reasons:

· The median age in Brampton in 33.7. It is the youngest community of Greater Toronto Area. There are many young and first-time home buyers in the city. And, if you are a first-time buyer who is looking for affordable options, an old home can be the right choice for you.

· Old homes have matching décor and appliances. It means you do not have to spend money on buying refrigerator, stoves, air conditioner, etc.

· If you buy a brand new home, you will have to spend money on enhancing the curb appeal of the property. But, if you buy an old home, you will be able to avoid the cost. It is because you will have the opportunity to use the existing garden, deck, driveway, etc.

Do not worry if the Old Home doesn’t match your Requirements

People avoid buying an old home because they are worried about its condition. Also, they believe that upgrading the home to match their standards is an expensive task. But, the reality is different. You can consider renovating your home beautifully with the help of an experienced home renovation contractor. He will understand your requirements and help you in creating your dream home.

Do not make a swift hiring decision. Before hiring any contractor, consider the following tips that will make renovating your old home in Brampton a piece of cake:

· Harmonized Sales Tax (HST)

It is a consumption tax that is not applicable on the sale of a new home in Brampton. However, if you undertake the work of renovating your home substantially, you will have to pay HST. According to the Canada Revenue Agency, substantial renovation work involves repairing or replacing 90% or more of the interior of your home.

An experienced home renovation contractor will have knowledge about the rules related to HST. He will help you in avoiding the tax by showing you ways of minimizing the renovation work. So, do not make the mistake of hiring an amateur contractor because it will result in an expensive deal in the future.

· Mature Neighborhood Provisions

There are several old neighborhoods in Brampton. And, the City Council wants to protect their unique identities. In September 2014, it introduced several new standards to ensure that any change to a home in a mature neighborhood is consistent with unique character of the area. So, if your home is near Bovaird Drive, Dixie Road or any other mature neighborhood, it is important to consult an experienced home renovation contractor. He will inform you about the different rules of renovating your home. Also, he will help you in obtaining the site plan approval from the Planning Department of the city.

· Building Permits

It is better to contact a home renovation contractor who has experience of working in Brampton. Consult someone who understands the laws of the city. It will help you in obtaining relevant permits from the City of Brampton. If you undertake any kind of renovation work without the permission from the Building Division of Brampton City, you will have to pay hefty fines.

An experienced home renovation contractor is necessary to inform you about the renovation projects that do not require permit from the local government. If you undertake the renovation work on your own, you will not know whether you require a permit for it. It can create confusion and waste your precious time.

Renovating an old home is not a cause of headache. If you hire a good and experienced home renovation contractor, you will not face any trouble in upgrading the home and making it new. So, do not spend your hard-earned money on a new home. Instead, make a smart decision of buying an old home.