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Deciding to enter the housing market and search for a new home can seem like an intimidating experience, but it doesn’t have to be. By keeping common problem areas in mind, you can make sure the home you purchase is not hiding any unexpected surprises.
“Asking the right questions and knowing what to look for in potential properties is critical,” says Tony Irwin, Allstate spokesperson. “Serious structural damage can devalue your investment and require major repairs down the road.”
Allstate Insurance Company of Canada suggests keeping the following in mind for discussions with sellers, as well as qualified home inspectors, when considering your home purchase;
- Start with the Foundation – You don’t want to live in a house that rivals the Leaning Tower of Pisa – check if the foundation is sinking. Ask your inspector to do a thorough search to see if there are any major cracks and that the footings are properly installed.
- Termite Test – Have a thorough inspection done to determine if there are termites, or other wood damaging insects, lurking in the structure. This type of damage is extremely costly, and can cause major damage to the entire frame of the home.
- Don’t get Zapped – Are there any wiring issues that will require walls and/or floors to be ripped open? Is there any active knob and tube wiring (potentially in houses built around 1945 and earlier?). Any aluminum wiring (homes built in mid-60’s to mid-70’s)? What is the main electrical service (a minimum of 100 amps is best)? Make sure the electrical is up to code so that you can avoid damage and unnecessary renovations that could be very costly at a later date.
- The Roof Over Your Head – Look into the age and condition of the roof. A new roof can be one of the biggest expenses for a home. By knowing its condition ahead of time you can make the decision whether it is an expense you are willing to take on.
- Check the Plumbing – Are the supply lines all copper? Galvanized steel can still be found in homes over 50 years in age. Look for visible signs of water damage. In 2009 nearly 37% of home insurance claims to Allstate Canada were a result of burst pipes and discharges from faulty hot water tanks. Make sure the plumbing is all up to code and that there are no major repairs which need to be made.
- Avoid Mold – Mold can quickly spread through drywall, and if not caught early can cause significant damage to your home and to your health. A good rule of thumb is if you have over 100 square feet of mold growth in one specific area, or if there are multiple rooms in the home which are affected; reconsider putting in an offer. Also, be sure to check around the foundation walls of a finished basement.
- Do an Energy Audit – Check for energy efficient fixtures such as laundry machine, dryer, dishwasher and window fixtures. An energy efficient home can save you money in the long term.
Remember: Aesthetics such as carpet, clutter, wallpaper or landscaping are easily renovated and can be done within a budget. Major renovations, like a new roof or structural upgrades, are much more expensive. Do your homework – ask the right questions and hire a qualified inspector.
For more information on home buying tips, home insurance or to speak with Tony Irwin, Allstate’s official spokesperson, please contact:
Jennifer Ouellette
Thornley Fallis Communications
(416) 515-7517 ext. 386 / (416) 277-8198
ouellette@thornleyfallis.com
About Allstate Insurance Company of Canada
Allstate Insurance Company of Canada produces and distributes home and auto insurance products across Canada. The “Good Hands Network” enables consumers to contact Allstate through one of our 93 community Agencies, directly online at www.allstate.ca and through the Customer Contact Centre at 1-800-allstate.
