Buying a home for your family is one of the biggest decisions you will ever make. Not only because it is the biggest purchase of your life. But because it will determine your quality of life for years to come.
This is why when you enter this process, it is good to have the power of information and negotiation on your side. Whether you aim to buy a condo or a house, many factors affect its value. As well as others that may be hiding issues.
Today we will focus on freehold houses such as detached, semi-detached, and townhouses or row houses.
For freehold homes, it’s good to keep in mind that often a house may be over 100 years old. So it is of utmost importance how it has been maintained throughout recent years. When you walk through it and it’s freshly painted, nicely decorated, and clean it is unlikely you can see what lies behind the walls.
Yet, in Toronto for example there are neighborhoods within flood plains. At these locations closer to the lake humidity and mold are items that should be checked. While other areas have active termites. Now don’t be scared. Because in most cases no matter the issue there are ways of dealing with it. But don’t you want to know if the house you are buying has any indications of such issues?
Thankfully there are home inspectors with specialized equipment that can help with revealing if there are aspects of a house that will need further investment after you buy it. As well as termite inspectors that can provide peace of mind.
Beyond the practical side of a home, there is also the legal side of things. Parking is a great example. There are many different types of parking such as private drive, mutual drive, and even parking pads licensed by the city. When you look at a lot and see that 3 cars can fit in it, this does not mean that the city bylaws allow you to park 3 cars there.
These are the top of the iceberg which is why choosing the right team of professionals that can serve you in the buying process is vital. The good news is there are quite a few of us out there that will guide you through this journey.