When you make an offer on a home, it’s a smart idea to have a professional home inspector check it out from top to bottom. This inspection will ensure that the property doesn’t have any unexpected “issues”. After all, you don’t want to buy a home only to discover that the roof needs to be replaced, immediately, for thousands of dollars.

That being said, you might question whether you really need to invest the few hundred dollars it costs for a professional home inspection. “The home we want to buy looks like it’s in very good shape,” you might be thinking. “I can’t see anything wrong with it.”

However, a professional home inspector can see things you can’t. When you view a property that’s on the market, you might be able to notice obvious issues, like a crack in the foundation or a dripping faucet. If you’re experienced with home maintenance, you might even notice roofing tiles that look like they’re overdue for replacement. 

But you won’t pick up all the issues a home inspector can. 

A home inspector will, for example, use a special device to check for moisture build-up in the washrooms – which can be an indication of mould. He or she will also inspect wiring to make sure everything is safe and compliant with the building code.

That’s not all.

Like a determined detective, a home inspector will investigate the property’s structure, electrical and plumbing systems, insulation, and other components — and then report the findings to you. 

In the end, a professional home inspection gives you peace-of-mind and protects your investment. So getting one is highly recommended — even for recently built homes. 

A good REALTOR® can recommend a trusted home inspector for you.

Looking for more ideas on making smart decisions when buying a home? Call The Dion-Ivans Real Estate Team today!!

Policy Change

The Canadian government announced today that it is increasing the minimum down payment on insured mortgages from 5 per cent to a two tiered system under which the minimum down payment on houses priced above $500,000 will remain at 5 per cent, but there will be an additional 10 per cent required on the portion of the house price above $500,000. 

As an example, for a house priced at $700,000, the minimum down payment for mortgage insurance purposes under the status quo would be $35,000. Under the new system, the minimum down payment would be 5 per cent x $500,000 + 10 per cent x ($700,000-$500,000) or $45,000. It is important to note that the homes priced at or above $1 million already require a minimum down payment of 20 per cent. 

The changes to minimum down payments will take effect on February 15, 2016 and apply to new mortgage loans where a mortgage insurance application is received on February 15, 2016 or later. 

Market Impact 

The increase in minimum down payments on homes above $500,000 is designed to target excess risk taking in Canada's most expensive housing markets. Most homes in BC are priced below $500,000 and therefore this change will have limited impact in much of the province. However, 35 per cent of homes sold in Metro-Vancouver are priced between $500,000 and $1 million and so this change could adversely affect or delay demand in those markets, particularly for first-time homebuyers. That said, given the incremental nature of the change, and since minimum down payments are less frequent at higher home prices, we expect the overall impact to be relatively minor.

“Copyright British Columbia Real Estate Association. Reprinted with permission.”

Call The Dion-Ivans Real Estate Team today to discuss your options....

You may love animals, but with the exception of your family pets, you don’t want them in your home. Here are some tips for keeping the wildlife around your property where it belongs: outside. 

-Don’t place bird feeders too close to your windows. Doing so may cause birds to associate a window with food and therefore try to peck their way inside.
-Make sure window screens are secure. If you can push a screen loose with your hand, so can a bird or other animal.
-Check screens on dryer vents and chimneys. If they are damaged, fix or replace them.
-To determine how animals are entering your home, stuff wadded paper in the suspected entry point. If the paper is disturbed the next day, you’ll know where they got in.
-Never leave food outside, unattended. After a barbeque, for example, take all remaining food inside. 

If you do find an animal in your home, never try to pick it up. It may bite or have rabies. Instead, call a professional.

When would you talk to a car salesperson? Probably only once you’re ready to buy a new car. You would do some initial research (perhaps on the internet), get an idea of what you want, and then go to the dealership to meet a salesperson, test drive the car and make the purchase. 

Although that approach may work when you’re buying a car, it’s not the best approach when it comes to real estate.

You see, successfully buying or selling a home requires a lot of planning and legwork. You want the process to go smoothly, the right decisions to be made, and the best possible deal to be negotiated.  

After all, this is the purchase and/or sale of your home! 

So, the best time to talk to a REALTOR® is as early in the process as possible. 

In fact, even if you’re just thinking of buying or selling — and simply want to explore the possibility of making a move sometime this year — you should have a conversation with a good REALTOR®.

A REALTOR® will answer your questions, provide you with the information and insights you need, help you avoid costly mistakes, and make sure you’re heading in the right direction.

When you are ready to buy or sell, having worked with a REALTOR® early in the process will help ensure you get what you want. 

So talk to a good REALTOR® when:

1. You have a question about the local market.
2. You want to know what your home might sell for today.
3. You’re interested in checking out homes currently available on the market.
4. You’re in the midst of deciding whether or not to make a move.
5. You’ve decided to buy or sell.

 Call The Dion-Ivans Real Estate Team today....