Home Inspection Articles

How Home Inspectors Help in a Hot Market

Posted by Thea Scrimger on Sep 13, 2013 2:41:00 PM

HomesAs we have witnessed with multiple articles in The Globe and Mail, The National Post, and The Toronto Star, the Toronto real estate market is hot. This past July was the best since 2009, with a 16% surge in sales, and August saw a 21% increase. Despite initial concerns about mortgage rates and household debt, there appears to be no slowdown in sight as the fall market begins.

According to Toronto Real Estate Board President, Dianne Usher, “Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home.”

The Board is confident that house prices and sales will remain high. Usher continues, “Despite an increase in borrowing costs during the spring and summer, an average priced home in the GTA has remained affordable for a household earning an average income."

A hot real estate market should not prevent keeping a cool head, but it can. Many buyers will go to great lengths to remain competitive in this climate, and that includes waiving their right to include a Home Inspection clause in their Agreement of Purchase and Sale. While opting out of the inspection may appear to be advantageous initially, it soon becomes a disadvantage.

Joseph Richer, the Real Estate Council of Ontario’s registrar overseeing professional conduct in Ontario maintains, “…a qualified Home Inspector can identify underlying problems with a home’s major systems that real estate professionals are not trained to assess.”*

In his Toronto Star column, “Ask Joe”, Richer addresses the importance of having a Home Inspection performed. He asserts, “It can be tempting to skip this requirement in ‘hot’ housing markets. But if you skip it, you’re taking a significant risk. Sellers may be unaware of property defects. A Home Inspection can help you avoid costly and stressful problems with electrical, plumbing, heating and other unseen systems.”*

A Carson Dunlop Home Inspection will provide you with the tools and resources to make an informed decision when purchasing a property. Our Home Buyer’s Inspections are a comprehensive evaluation of over 400 items in the home from the roof to the basement. The inspection and written report give our clients the critical information they need. Our inspections include:

  • A summary page with key findings
  • Improvement recommendations for conditions, with time frame and cost estimates
  • Photos and colour illustrations for clarity
  • A free copy of the Home Reference Book to help you further understand how your home works
  • A check for manufacturer recalls on appliances through RecallChek
  • Free enrolment in the Carson Dunlop Homeowners Association

We also suggest a Thermal Imaging Inspection be added to your Home Inspection, to help identify hidden leakage in your home.

We recognize that house hunting in a competitive market can be hectic and stressful. Our Home Inspections are not. Book online or over the phone. Request a morning, afternoon, or weekend appointment. Receive your report the same day your inspection is completed, via email. Call or email us anytime with questions.

To learn more about Carson Dunlop and our Home Inspections, please visit carsondunlop.com or call 800-268-7070.

*SOURCE: Toronto Star, Joe Richer

Topics: Home Inspection, Market Advice, Carson Dunlop