Thanks for tuning in to episode 14 of From the Nest Podcast!
I held a super successful open house…NOT! The weather and golf gods were not on my side which contributed to a very low/no turnout at my Drummond open house this past weekend
We had an inspection at a home we are under contract with for ourselves
Chris helped build a deck at my parents cottage as their “project creep” continues
5 Lessons Learned with Home Inspections:
1. INSPECTORS ARE NOT EXPERTS IN ALL AREAS OF THE HOME
Inspectors identify problem areas but are not experts in all areas of your home. Be sure to consult experts in areas like foundation, electric, roof, plumbing, HVAC if necessary. Paying a little extra for the service call will be worth it to learn exactly what the issue is, the cost and if/when it will need to be prepared.
2. DON’T INHERIT ANOTHER PERSONS PROBLEMS IF YOU DON’T HAVE TO
Go into the inspection understanding the amount of work you are willing to do on the property and money you will have to spend. If you are getting a great deal on the house, maybe yo are fine with fixing the issues on your own. If it is a huge investment for you, don’t be afraid to ask for repairs. If you inherit those same problems, remember that you will have to disclose big issues when you go to sell the home in the future.
3. DON’T SKIP THE FINAL WALK THROUGH
Even if an inspection report looks relatively clean, be aware of homes that have been vacant for a while and NEVER skip the final walk through the day before closing. With our third home we did not do a final walk through and within those 14 days of the clean inspection report, the boiler had broken and we were stuck with zero heat and hot water during a big Spring snow storm.
4. ATTEND THE INSPECTION AND ASK QUESTIONS
Go to the inspection and ask any questions you may have. Getting a large inspection report can be scary, especially for first time homebuyers. By going to the inspection you can have an expert talk to you about estimated costs to get issues fixed, if they think it is a “big deal” and if they recommend experts give their opinion.
5. GET SECOND OPINIONS AND FACTS ARE YOUR FRIENDS!
As a seller, if a buyer has big repair requests that you think are unreasonable, get second and third opinions! Facts are your friend and if you can build a case that their request is not reasonable, you can save yourself money and hopefully the deal from falling through.
Chris and Lindsey’s Tips of the Week:
Lindsey: In an aggressive market where you are often competing to buy a house, consider writing a “love letter” to the sellers. By creating an emotional connection with them, you give yourself an edge. People want to know that the new owners will take care of the memories they made in that house and will love it like they did.
Chris: If you need to move a lot of earth to, lets say, building a deck! Look into renting a dingo! You can rent them by the day and it cuts your time in half. Plus it is super easy and fun to use.
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