My clients in Spruce Grove, Stony Plain, Parkland County and the Edmonton area have lots of questions, and I’m happy to answer them!  This article is Part 1 of a series that addresses the most common questions I get from home buyers.

How do REALTORS® get paid?

REALTORS® work on commission, a percentage of the selling price of a property.  This commission is specified in the Listing Contract signed by the seller and the REALTOR® who lists the property.  When a property is sold, the REALTOR® who listed the property for the seller shares the commission with the REALTOR® who sells the property to the buyer.  The buyer is usually not required to pay a commission directly (unless the buyer is under contract; ask your REALTOR® if you are not sure).

When should I start actually looking at homes with a REALTOR®?

As soon as you are pre-approved by your bank or a mortgage broker, you can begin looking at homes.  I would not recommend looking at homes prior to getting pre-approved because you may find something you fall in love with and then find out you do not qualify to purchase it! 

Do I have to call the REALTOR® who has the house listed to view the house?

No.  In Alberta, any REALTOR® can show you any house that is listed on MLS®.  If you have chosen to work with a REALTOR®, your REALTOR® would prefer to show you the property rather than you calling the REALTOR® who listed the home.  Remember, REALTORS® are paid based on a commission so if you are working with multiple REALTORS®, the only REALTOR® who may get paid is the one who writes the offer with you.  If you are looking for a REALTOR®’s full attention, you need to show you can be loyal. 

How do I choose a REALTOR® to work with?

Choosing a REALTOR® can be a difficult task.  REALTORs®, like people in any profession, are not all created equal!  Here are a few tips for picking a REALTOR®:

• Think about what you are looking for in a REALTOR®. Personality is a large part of this profession so think about what type of personality you are compatible with.
• Ask friends or family if they can recommend a REALTOR® to you. If not, start searching on the Internet or in the newspaper.
• Look through websites and see if there are testimonials posted. Do the testimonials give you an indication of the type of personality the REALTOR® has, and is this a fit for you?
• Interview more than one REALTOR® to get a feel for what different people have to offer.
• Find out if the REALTOR® is part-time or full-time and how often you will be able to get in touch with him or her.
• Find out what types of technology the REALTOR® uses: Internet, email, text messaging, social media, etc.
• Send an email to the REALTOR® and see how long it takes for that person to respond. This could be an indication of how attentive the REALTOR® will be to you.
• Ask how many clients the REALTOR® works with at one time. More can be less in this business. Do you feel the REALTOR® will have enough time for you?
• You want a REALTOR® who is client focused. That is, YOU need to be more important than the commission the REALTOR® will earn. The REALTOR® will earn his or her commission after all your needs have been met.

If you don’t see your question here, it might be answered in the Buyers Guide section of my website.  Or, feel free to contact me any time by email at barry@barryt.ca or by phone 780-910-9669.

If you are one of those rare people who travels light through life, this article may not be for you.  But if you are like most people, and you’ve been in your home for a while, the thought of downsizing has probably crossed your mind, especially if your family and life circumstances have changed since you first moved into your home, whether in Stony Plain, Spruce Grove, Parkland County, the Edmonton area or elsewhere.

 There are many good reasons to downsize:

• saving money on home upkeep, insurance, taxes and utilities
• unloading some of the “stuff” most of us can’t help accumulating on our life’s journey but which we find we no longer need
• lessening our impact on the environment
• simplifying our daily routines to save time for more interesting and enriching activities
• preparing for a time when someone else may have to look after our affairs and possessions

Before you can downsize your home to a smaller place, you will probably need to downsize inside your home first, getting rid of many everyday objects found there.  This can be extraordinarily difficult.  The truth is that downsizing and de-cluttering often come with a huge pile of emotional baggage.  Making the decision to part with property and possessions you’ve used and loved for a long time, each item attached to memories, can be a wrenching experience.  Sometimes the sheer volume of physical and emotional “stuff” can be so overwhelming that it’s hard to even begin.

Most experts will tell you to start with a small space, like a closet or even a small room.  They suggest you remove everything from the area and sort items into several piles, with the ultimate goal being to throw away the trash, give away or sell things you no longer need or want but which still have some value, and keep only those items you really love and use.  Sounds sensible and simple enough, right?  Most of these experts will also provide you with all kinds of motivational prods to force you to get past your objections (“My grandmother made that old quilt!”  “I might have a use for that tool some day!”), along with questionnaires to help you decide what kind of hoarder you are and which pile something belongs in.

The fact is that none of this advice is going to be worth much until you are sure that you need or want to downsize in the first place.

A thought-provoking article published in the Montreal Gazette (“Boomers upsizing their downsizing plans”) suggests that maybe we shouldn’t be too hasty in automatically assuming that downsizing is for everybody.  Baby boomers once again are doing things a little differently from previous generations.  Some people when they reach a certain age are discovering that it actually makes sense to move into a bigger home, albeit one with a floor plan more geared to their current and future physical needs (for example, a bungalow with an open floor plan rather than a multi-level home), while others decide to keep the family home but renovate it to accommodate changing situations.  There are a number of reasons for this interesting trend:

• Family dynamics have changed. Children are taking longer to leave the nest, or are returning to the family home after relationship break-ups and the like. There are also many people in late middle age who find themselves raising their grandchildren.
• Work lives have changed. Some people realize they don’t want to retire in the way previous generations did. Instead they decide to modify their work so that more is done from home. This creates the need for a home work space.
• Many older adults have the money to continue to enjoy the quality of life that comes from living in a larger private space. This might include making room in the home for hobbies, exercise, more entertaining, etc.
• Keeping a house rather than moving to a condo or some other kind of communal living space may make good economic sense as equity in homes continues to rise.

So … to downsize or not?  Maybe our reluctance to part with possessions has less to do with procrastination and more to do with the need to make practical, realistic life choices.

If you’ve made the decision to downsize and you are interested in looking at smaller properties in the Spruce Grove, Stony Plain, Parkland County or Edmonton area, please contact me here, email me at barry@barryt.ca, or phone 780-910-9669. 

1. Location

Real estate’s number one criterion really plays out in Stony Plain.  Located within Parkland County 8 km west of Spruce Grove and 17 km west of Edmonton, Stony Plain has easy access to all the amenities of both cities.  The town retains its rural roots while offering modern transportation options via Highways 16, 16A and 43, as well as rail and bus links.  Travel times:  roughly ½ hour east to Edmonton (great for commuters), an hour to the Edmonton International Airport, 3 hours west to Jasper, 3½ hours south to Calgary, 4 hours north to Grande Prairie.  Take a look at Stony Plain’s official website.

2. Lifestyle

Quiet small town atmosphere, 14,000 friendly residents, safe and secure streets, along with every convenience of modern life.

3. Neighborhoods

Many towns claim to cater to every taste and budget but Stony Plain truly does have something for everyone:  condos and low-rise apartment buildings in Downtown Stony Plain, mobile and modular homes in Meridian Meadows, all the way up to luxury homes on acreage properties within town limits in Country Plains Estates.

4. 100+ Years of History

AlbertaFirst.com (a website that has regrettably been discontinued) had this to say:  “The Town has a pride in its history which began in 1881 when the first homestead in the area was documented. In 1892 the area was known as Dog Rump Creek until a post office was named for the region and it became Stony Plain. In 1907, Stony Plain’s first Sheriff, Israel Umbach, made national headlines when he chained a locomotive to the railway tracks for non-payment of taxes and changed the course of history. In 1908 Stony Plain was officially incorporated as a town. Stony Plain’s history is kept alive through its murals program, numerous historic sites, and the Multicultural Heritage Centre.”   Interested in learning more about the rich history and interesting tales of this area?  Check out Along the Fifth: A History of Stony Plain and District.

5. Unique Downtown Character and Hospitality

Twenty-six larger-than-life outdoor murals, historic buildings such as the Stony Plain Hotel which dates from 1906, quaint shops, and one-of-a-kind restaurants make it a treat to stroll through the downtown core of “The Town with the Painted Past”.

6. Multicultural Heritage Centre

So much to explore!   Housed in two buildings, the Old Brick School built in 1925 and the Oppertshauser House which dates from 1910, the Multicultural Heritage Centre with its beautiful landscaped grounds and gardens features displays and exhibits of local history and pioneer life, a gift shop and art gallery, Wild Rose Library and archives, and the much-loved Homesteader’s Kitchen restaurant, famous among locals for its fresh pies!  Also worth a visit is Stony Plain’s Pioneer Museum (5120 – 43 Ave) which hosts the Pioneer Harvest and Old Time Threshing Bee in September.

7. Festivals

Summer festivals reflect Stony Plain’s strong rural traditions.  Late May/early June features Farmers’ Days and Kinsmen Rodeo, complete with parade, midway, carnival games, arm wrestling competition and more old-fashioned fun.  The Blueberry Bluegrass and Country Music Festival, attracting well-known names and world-class performers, takes place each July (celebrating 25 years in 2010), followed in August by the Cowboy Poetry Gathering.

8. Farmers’ Markets

Fresh fruits and vegetables, homemade goodies, and handmade craft items are in abundance every Saturday morning 9 AM to 1 PM from mid-spring to early winter at the Stony Plain Farmers Market at the Stony Plain Community Centre (5008 – 51 Avenue) and at the Heritage Farmers’ Market (located at the Multicultural Heritage Centre).

9. Recreation

Everything you can imagine!  Sports of all kinds for all ages (soccer, hockey, baseball, basketball, golf, curling, skating, skiing, martial arts, BMX, you name it!), gymnastics, dancing, clubs of every description, and much more.  For specific details visit the Community Connections section of my website  and scroll down to Sports and Recreation.  But there’s more.  Stony Plain also has an extensive parks and trail system running through town, and is just a few minutes away from the TransAlta Tri Leisure Centre  with its spectacular sports facilities and the Chickakoo Lake Recreation Area in Parkland County, as well as numerous other lakes and campgrounds.

What a great place to live, wouldn’t you agree?  Contact me now for your Stony Plain Real Estate needs.

You’ve just moved into your new home, whether in Spruce Grove, Stony Plain, Parkland County or elsewhere, and you plan to enjoy and use your new property for many years.  The last thing on your mind at this time is the expense and aggravation of unexpected repairs.

Did you know that each element in your home has a predictable life span, an approximate time limit to a trouble-free operation?  If you know what this life expectancy is, you are in a better position to plan for the inevitable maintenance that comes with home ownership.

If the roof on your home has asphalt standard shingles, you can expect to have to replace that roof in 12 to 15 years after the home was constructed.   An asphalt premium shingle roof has more than double this life span:  15 to 30 years.  Wood shingles last only 10 to 20 years, while a slate tile roof, although much more expensive to install, is expected to last between 40 and 80 years.

What about home heating and cooling?  Most homes in Alberta have forced air furnaces for heating; 10 to 25 years is their life expectancy.  Central air conditioning will need to be repaired or replaced after 10 to 15 years, while window air conditioning may operate without problems for up to 20 years.

You might be surprised to learn that a hot water heater as young as 5 years may need to be replaced.  After 15 years, it might be a good idea to replace it simply as a precaution since that is the end of its normal expected life span.  Galvanized water pipes are expected to last between 20 and 25 years.  If you live on an acreage with a well and septic system, expect to replace your well pump after 10 years and your septic/sewer pump between 5 and 10 years.

Budget for home appliance replacement also.  Expect 5 to 12 years of use for both an automatic dishwasher and a garbage disposal.  The range in your kitchen will generally run trouble-free for 15 to 20 years.  In the laundry room, 5 to 15 years for a washing machine and 10 to 25 years for a dryer are standard.

The above information comes courtesy of Pillar to Post Home Inspections.  Click on this link from their Living with My Home website for a detailed chart showing the life expectancies of other home components, as well as approximate repair and replacement costs.

Comments or questions about this article?  Phone me at 780-910-9669, email me at barry@barryt.ca, or contact me here.

Ever heard of Interest Rate Differentials, or IRDs?  If you haven’t, and your mortgage contract contains a clause referring to it, you could end up with much, much less from the sale of your home in Spruce Grove, Stony Plain, Parkland County or the Edmonton area than you had anticipated.

I just re-read an email from Frank DeAngelis, a Spruce Grove lawyer (contact information below) who often handles the legal side of home sales and purchases for my clients.  Although the email was written a year ago, its content and advice are just as relevant in today’s real estate market:

“In the last few months the Real Estate Department at Main Street Law Offices has dealt with some very surprised and upset Vendors relating to the amount of their mortgage pay-outs. 

“Most Vendors seem to be expecting a three month interest penalty if they pay their mortgage out early.  However, MOST mortgages call for a three month interest penalty or an interest rate differential (“IRD”), whichever is HIGHER.  This higher cost effectively reduces the equity that Vendors have in their existing properties, making their next purchase difficult to complete as they were expecting more equity from the sale of the old house. 

“IRDs can be substantial and are a current concern due to the large decreases in interest rates over the past year.  For example, take a $300,000.00 five year mortgage taken out in 2007 at 6.5%.  With current rates at 4% or less, the pay-out penalty today with three years remaining on the term is $300,000.00 X 2.5% X 3 = $22,500.00

“We strongly recommend that you insist on your clients getting an estimated pay-out statement from their banker, including the IRD pay-out, in any circumstances where reliance is being based on an estimate of equity in the sale property.  This will help avoid closing surprises and assist us greatly in achieving ON TIME ^TM closings for your referrals. 

“Sometimes the bankers can help resolve the issue by “porting” the mortgage.  Each lender has different policies, so each case has to be addressed on its own merits.  We suggest you involve the bankers early to see what they can do to make this issue less of an impact on closing.” 

Frank C. DeAngelis, Barrister & Solicitor

Wherever we live, Spruce Grove, Stony Plain, Parkland County or elsewhere, most of us have things we collect or activities we like to do in our leisure time.  These collections and activities often spill over into our homes, even if they are usually done elsewhere.  Without proper planning, this can sometimes be disastrous.  Think, for example, of current popular television programs on hoarding and decluttering.

If you have any sort of hobby, and you are in the market for a new home, it’s a good idea to give some thought about how that hobby will fit into the physical confines of the houses you look at, and what modifications you might have to make to a house in order to accommodate your hobby.

Let’s say you enjoy hiking and camping, or similar sports or activities that you normally practice away from home.  Where and how are you going to store the gear needed for these activities?

Maybe you are a serious collector of… well, almost anything!  Books, coins, model cars, sports memorabilia, dolls, antique furniture, teapots, clocks, insects….   More than three objects in any of these categories could rightly be called a collection.  The question for your home is where and how are you going to store and display your collection?

Or, maybe your hobby is some activity or craft you do, which may or may not result in a physical endproduct.  Some hobbies are fairly easy to fit into everyday life.  Gourmet cooking?  Your kitchen may be a little better equipped than the average but usually no major changes need to be made.  Enjoy reading, doing crossword puzzles, blogging, or watching vintage movies?  Again, easy to do at home without disrupting daily life.  Scrapbooking or sewing?  A table and a few storage containers in the corner of a guest bedroom will often be enough.

But suppose your hobby requires

• a great deal of space (think model trains or weaving or woodworking or restoring old vehicles)
• the use of toxic chemicals (oil painting or furniture refinishing)
• structural changes to your home (pottery making with a home kiln, perhaps, where special wiring might be needed, or collecting wine, where special lighting and temperature controls may be required)

Can hobbies of this type be accommodated in your home?  Yes, with a little forethought and planning.  A good rule to follow is to do what you must but always keep the end in mind.  That is, consider what you will need to do to return your home to its original condition should you give up the hobby or when it is time to sell your home.

I recently developed the basement of our Spruce Grove home.  I thought this would be a good opportunity to incorporate a salt water aquarium into our home.  There is just something about the choice of fish and corals and all the colours available in a salt water reef system.  A fragile system that does not forgive neglect or ignorance, it has very specific needs that include water temperature, lighting, chemical control (e.g. calcium, PH balance, ammonia, nitrates, magnesium, etc.), water flow, salinity, and more.  There can be costly lessons during the learning curve.  But if one is passionate about a hobby, the work and expense are eventually well worth it.

I brought in someone who is an expert in salt water systems and had him advise me on what was needed.  He suggested we add two dedicated electrical circuits to accommodate all the equipment, and a sink with hot and cold running water.  We built the tank into the wall so that it can be viewed from the family room.  All the equipment is located behind the main tank in an oversized closet just off the exercise room.  The system was installed so that it could easily be converted back to what the average home buyer would expect to find.  All that we need to do is remove the equipment, frame the opening where the display tank is, mount and finish some drywall, and no one would ever know there ever was an aquarium there. Except for maybe plumbing in the wall and a humidistat hooked up to an exhaust fan.

 It is worth remembering that when you modify your home to accommodate your hobby or business, you may have to remove all evidence of it ever having been there as it may be viewed as a deterrent or expense to prospective buyers.   

For most people, hobbies and interests are a special but integral part of their lives and need to be considered when shopping for a new home.

Comments or questions about this article or about Spruce Grove Real Estate?  Email me at btwynam@telusplanet.net, phone me at 780-910-9669, or contact me here.

Whether in Spruce Grove, Stony Plain, Parkland County, the Edmonton area or elsewhere, REALTORS® love statistics.  We like to know how many and what kind of properties are being listed and sold, and for how much.  We also like to examine trends over time because this helps us help our clients determine realistic property values when they buy or sell a home.

We often hear about the ups and downs of the real estate market, but what does this really mean?  Is real estate a good investment?  Does real estate always appreciate? 

Answers to these questions can be seen fairly easily by looking at a few statistics, especially when these are presented in graphic format.   If we look at the average residential selling prices for homes in the Edmonton area from 1962 to 2009, we’ll see some interesting trends.  Even more interesting is that these trends tend to repeat themselves.

From 1962 to 2009 the average selling price of a residence in Edmonton increased from $12,556 to $320,392 – an increase over 47 years of 24 times the starting value!  Does this mean that the value of one’s home doubles every few years?!  Well, sort of…  Examining the numbers year by year, we see that while the overall price trend has been ever higher, the movement is not always steady and not always upward.  There were a number of times during those 47 years when the average selling price in one year, or even for a series of years, was lower than the previous year.

Prices stumbled in 1964, recovering the next year.  Steady, and in some cases significant growth, continued until 1981.  Looking more closely at the gains during those 16 years, and doing a little math, we discover that double digit percentage gains over the previous year occurred in 1967 (12.3%), 1968 (12.9%) and 1969 (17.7%).  During the next 3 years prices continued to increase but at a more modest rate.  1973 saw prices take another leap (14.6%), and that was followed by 3 more years of huge year over year gains (1974 – 28.2%; 1975 – 26.4%; 1976 – 32%).  A house that sold in 1972 for $24,777 was suddenly “worth” $59,450 only 4 years later.  By 1981 the average selling price had risen to $91,438, a gain of 369% in just 9 years.  Many people buying and then re-selling property during this time made substantial financial gains.

But the sometimes cruel nature of the real estate market took over in 1981.  A person buying a home in 1981 would have seen prices drop for the next 4 years, and then increase modestly for another 4 years but still not rebound to the price paid in 1981.  A hard lesson perhaps.

By 1990 the average residence sold in Edmonton for $101,014.  Prices rose for 5 years, fell in 1995 and 1996, and then rose for the next 11 years, up to 2007.  This is eerily reminiscent of the trend mentioned above starting in 1964.  Several of the 11 years between 1997 and 2007 saw a price gain that was dramatic.  In 2002 and 2003 percentage increases were 12.6% and 10.2% respectively.  In 2006 prices rose 29.4%.  This was followed in 2007 by the largest one-year percentage increase since these statistics began:  34.7%, or a rise to a dollar value of $338,009.  Most people are probably aware of what happened to the housing market in the US during this period of time and its effect on house prices throughout North America.  The average selling price of a home in Edmonton dropped 1.5% in 2008 and 3.7% in 2009 but appears to be trending upward so far in 2010.

These trends are even easier to spot in a chart like this one:

Looking at the proverbial big picture, we see the following:

• The average annual price increase is roughly 7.8%
• The average 5-year price increase is about 49%
• Only 9 years between 1962 and 2009 showed price decreases
• If you held a property for 9 years, you would always see an increase
• Edmonton values appear to double every 9 years, on average, since 1962

Statistics and facts suggest that yes, real estate is definitely a good investment, and yes, it does appreciate over time.  

What about right now in the marketplace?  Are we once again in the trend of a couple years of soft prices followed by a decade of increases?  Are prices going to continue to fall before they recover as they did in the 1980s and 1990s?  Is now a good or bad time to buy and sell?  Hard to predict and impossible to know.  This is, of course, exactly what makes real estate interesting!

Interested in learning more about the real estate market in Spruce Grove, Stony Plain, Parkland County or the Edmonton area?  Phone me at 780-910-9669, email me at barry@barryt.ca, or contact me here.

Whether you live in Spruce Grove, Stony Plain, Parkland County, the Edmonton region or elsewhere, you have probably heard the phrase “location, location, location” used in real estate and wondered why the need to state it three times.  It is repeated to emphasize its importance.  It is one of those things in real estate that just is, and when you ignore its importance you will likely regret it.

As a buyer myself, I ignored it twice in the last 30 years.  One of those times was when I remustered to a Structural Technician (changed trades) while serving in the Canadian Armed Forces.  My first posting was to Wainwright, Alberta where housing was pretty pricey, so we decided to purchase a major fixer upper in Czar, Alberta (200 people, 10,000 head of cattle), 50 km south of Wainwright.  My thinking was twofold:  we could buy a house a lot cheaper in Czar, and this would be good practical experience to experiment with my new construction trade.  We could add sweat equity to this house, making a really nice home and still be competitive with the Wainwright market.

My wife Paulette and I spent the next 3 ½ years gutting the house, including the interior walls, kitchen, basement, lighting, electrical…  In the end the house turned out beautiful.  But when we got posted to the north end of Vancouver Island, no one wanted to buy the house, because we could not compete with the buyers’ desire to live in Wainwright.  To make a long story short, we rented the house to the only person who applied, and that person trashed the house.  I took time off, came back to Czar, fixed the house up for sale and put it back on the market, selling it for what the market would bear. The lesson here:  Buyers will pay a premium to live where they want to live. 

“Location, location, location” usually means attractive neighbourhoods close to schools, hospitals, and facilities for entertainment, recreation and shopping.  It can mean proximity to a lake or backing onto a park, green space or golf course.  Homes in undesirable locations might be next to commercial/industrial buildings, beside railway lines, under flight paths, or in neighbourhoods with high crime rates.  Also included are economically depressed areas, where neighbours show zero pride of ownership in maintaining their homes and yards.

Although you will pay a premium to buy in a desirable location, the payback is well worth the extra cost.  Desirable locations sell quicker, usually appreciate at a greater rate, and are likely to sell before less desirable locations even when the market is slow.

From my past experiences, if budget is an issue (and when isn’t it?), I would settle for a smaller home located in a desirable location, later moving up to a larger home when I could afford it.

Looking for a great home in a great location?  Let me help!  Call me at 780-910-9669, email me at barry@barryt.ca, or contact me here.

If you are asking the question, then the answer should probably be, yes.  No one should ever advise you not to get a home inspected.   If you do decide to go ahead, make sure the home inspector has experience, training and a broad understanding of home construction and all the bits and pieces that make a house whole.   This advice holds true whether you are looking to buy a Spruce Grove or Stony Plain home, a Parkland County acreage, or property in the Edmonton region or elsewhere.

A good home inspector will spend between 2 to 4 hours (depending on the house size) inspecting the home.  He or she should have equipment such as a moisture detector, carbon monoxide detector, ladders, magnifying glasses, mirrors and other specialized equipment in order to check all areas of the home and in cracks and crannies when needed.  A thorough home inspection should give you a good overview of the general condition of the plumbing, electrical, roofing, insulation, windows, grading, drainage, the foundation where exposed, furnace, hot water tank, and general construction and condition of the home.  It is advised that you be there for most of the inspection or at least the latter half of the inspection.  That way you can see firsthand any deficiencies (minor or major) noted by the inspector.  You can also ask the inspector to look more closely at any areas that are of concern to you.

At the end of the inspection the home inspector should provide you with a report outlining his observations. He or she should also give you an overall view of the condition of the home (i.e. sub-standard, normal, above average), and recommend maintenance that should be done over time.

A house put under a magnifying glass like this will create a list of observations.  That list can sometimes seem overwhelming.  Don’t be surprised when your home inspector refers to a 25-year-old furnace as being “fully depreciated”. That doesn’t mean the furnace has to be replaced tomorrow.  If it is operating safely, it could last, with proper maintenance,   another 5 or more years.  But a 25-year-old furnace is only about 60% efficient (60% of the fuel used by the furnace is used to produce heat and the other 40% goes up the chimney). Most people nowadays replace furnaces in order to have a more efficient furnace.  The building code now requires that all new furnaces be high efficiency (90 plus percent). The home inspection needs to be put into perspective.  It should reflect, within reason, what you viewed and bargained for when you negotiated your purchase.

Although a home inspection can be used to try to re-negotiate the original purchase contract or to try to get the seller to do repairs or upgrading, this is usually the exception to the rule, reserved for bigger ticket items that a buyer would not have expected from the original viewing of the home.  Things that fall into this category could include safety issues (for example, a cracked heat exchanger on a furnace), a structural issue that you were not aware of, or such a very large list of minor deficiencies that it now represents a major expense, with the exception of a home that was known to require a lot of work, such as a “handyman special”.  There is no one answer that fits all situations, so it is always best to discuss any concerns you have with your REALTOR®.

See also “How to Pass Your Home Inspection” on BarryT.ca.

Comments or questions are always welcome!  Contact me here, phone me at 780-910-9669 or email me at barry@barryt.ca.