Ensuring your Real Estate Investment is Solid

The Ottawa Citizen featured an article in the February 8th edition regarding Home inspectors titled Ensuring your Investment is Solid.
When making a home purchase there are a number of measures Buyers undertake to prepare them for such a major transaction. The first priority, most frequently, is to identify a realtor who will represent your interests throughout the entire process. It often can take many months to find the right fit.
Your realtor, like your broker or your lawyer should be someone with whom you have no doubt in their ability and trust that the Realtor knows they are working in your best interests not theirs! Meeting with a few before settling on one is the best way to begin. Getting some references from friends is a good way to start. Once you have settled on the agent, you will begin together to walk through the exercise of what it is that you are looking for and what it is you can afford; a house, a condo or a country home.
Understanding the neighbourhood as well as the value is where the council of your agent is critical.  For example, purchasing property in a unique neighourhood or the purchase of more valuable real estate takes the experience of an agent who has an understanding in this type of market as well as a solid reputation. References from others can help make this part of the decision making less challenging. Your decision in selecting your realtor should not necessarily be based on price. The higher price does not always equate to the outcome of the best agent and when the price is too good to be true it is important to remember “you get what you pay for”. References are important.
When purchasing your home, likely the largest single asset you will invest in, other than perhaps a business, you will want to be sure of the condition and state of repair of the home you have bought. This is where a good and competent House Inspector will aide in your decision making process. The Inspector’s role is to examine the home carefully and give you a solid understanding of what you are investing in beyond the cosmetics. In other words, a good inspector will educate you about the building you have purchased and introduce you to some of the mechanics of the home. This is a good time to become familiar with pieces such as the HVAC system, electrical, plumbing, roof, foundation, and any red flags there may be to alert you to any possible deficiencies. House inspectors’ role is to determine that the property is in a good state of repair, to be certain that it is built to code and meets the fire and safety standards of the province. Further, the inspector will determine if there is evidence to support concern for future problems as well as helping you to budget for any necessary repairs.  This requires an inspector with knowledge of the local building codes as well as knowledge of construction in a variety of areas and experience.
For myself, I have always hired the services of inspectors who have long years of experience with an engineering background. I have found that this type of inspector has the ability to give me personal comfort with the level and quality of the information in their inspections because they have the knowledge and experience to interpret what they have found in any building and give it some context. I have also found that they do not give advice beyond their level of expertise. My experience has been when they have identified any red flags about foundations or other such matters; they generally recommend a professional in the field to provide a “expert opinion”.
Investing in real estate is something that happens every day but it is neither simple nor uncomplicated. However, if you have found the right fit for your needs, the investment process has already been made easier. Finding the a good and competent Inspector can provide a tremendous amount of valuable information for you on the home you are about to purchase and the agent who is the right fit for you will give you the advice you need every step of the way.
For more information about real estate in Ottawa feel free to call us at Exceptional Properties.ca

To read the article please visit here.