This week in the Real Estate News

This week in the Real Estate News

WHAT TO WATCH FOR WHEN VIEWING OLDER HOMES Buying an older property definitely has its advantages. The neighbourhood will already be well-established, so you’ll be able to get a sense of the community. The trees will be grown. The area will have a defined character. This combination of an older home and established community may be something you like, or even love. However, when you’re viewing an older home for sale, there are a few extra things you need to be sure to check. Here are the most important: Needed replacements. Nothing lasts forever. In any home, there are items that will eventually need to be replaced. The most common include roofing shingles, furnace, water heater, air conditioner, windows, deck, and fencing. When viewing an older property, ask about the age of each of these items. You’ll get an idea of probable upcoming replacement expenses. Building issues. Homes were built differently decades ago than they are today. So, there may be issues that need to be addressed by a new owner. Some can be serious, such as water leakage and structural problems. Others, less so, such as old electrical outlets that need to be updated. If there are issues like these, they’ll likely be identified during the professional home inspection. Drafts. Drafts are common in older homes. Of course, that doesn’t mean they shouldn’t be fixed. Even modest infiltration of air through an old window or door with worn weatherstripping could add hundreds of wasted dollars to your energy bill each year. Look for signs of drafts when viewing a home. The good news is, the overwhelming majority of these issues can be fixed easily. Don’t let them dissuade you from buying an older home you otherwise like. SEARCH HOMES FOR SALE VICTORIA & VANCOUVER ISLAND HEADLINE HIGHLIGHTS "Early signs" that Canada's housing market adjustment is ending: CREA Housing supply crisis: Time for "alarm bells," says RE/MAX president Canadian housing inventory drops below 10-year average Canadian pandemic homebuyers have zero regrets, survey shows Canadian households have lost billions in real estate cool-down National Average Rents Climbed Nearly 17% in August, Topping the 2019 Peak: Report Douglas Todd: In B.C., housing is like a religion Gas stoves aren’t just bad for the environment. They pollute your indoor air, too Falling housing prices may not be leading to widespread buyers' remorse the way you think Canadian cities facing housing supply crisis, Re/Max report says FP Answers: Pros and cons of fixed vs variable mortgages as borrowing rates rise Posthaste: A third of Canadians worry about covering 'daily living expenses,' survey finds WHAT IS MY HOME WORTH IN TODAY'S MARKET? FOOD MOMENT Love food? Me too!! Click on the photo for this weeks selection. Very Delicious Baby!   SEARCH REAL ESTATE SOUTHWESTERN ONTARIO QUESTIONS? Have you ever had a question about real estate and struggled to find the answer? Perhaps you Googled the question and got inundated with hundreds of pages of content, much of it unhelpful. Or, maybe you asked friends and neighbours and received conflicting answers. It can be frustrating – especially when all you really want is an answer that’s accurate and relevant. For example, you might be wondering, “How much are homes going for in this area?” The good news is, there is a source of information available that you’re going to find very helpful. Me! I have the latest data and insights into the local real estate market. So, when you have a question, I can usually get back to you with an answer that will be up-to-date and useful. You don’t have to dig for information and then worry about whether it’s correct. Get in touch, I’m happy to provide you with the facts and advice you need. Best regards, Diana Winger eXp Realty ON YOUR TEAM! Share Tweet Forward