Recognizing potential major expenses in a new home

When you see a new home you like on the market, it’s easy to get distracted

by all the features you love – the wrap-around backyard deck or the

spacious rec room with plenty of space for entertaining. You just need to

make sure that in all that excitement you don’t overlook any expensive

maintenance issues that could be just around the corner.

Nothing lasts forever. The major components of every home – from the

furnace to the roof shingles – need to be replaced eventually. Knowing

when such maintenance issues are likely to arise can help you make a

smarter decision about the home you’re considering.

How do you do that?

When viewing a property, ask for the age of the major components of the

home, such as the roof shingles, furnace, air conditioner, water heater, and

appliances. Roof shingles may look merely weathered in spots – and you

might think they have years of service left – when, in fact, they’re due to be

replaced in a year.

Also pay close attention to the backyard deck, fencing, flooring, and

windows. Do any of those components look aged, worn, and in need of

repair or replacement sometime soon?

Finally, don’t forget to check the kitchen and bathrooms. Sinks, faucets,

bathtubs, showers, and cabinetry have a life-span of about 10-15 years.

Of course, there are things you can’t see, such as wiring, plumbing, venting,

and other components of a property that may require maintenance soon.

That’s why it’s so important to make any offer to purchase a home

conditional on passing an inspection by a qualified home inspector.

Want more ideas on buying the right home for you? Call or e mail me today, Tammy Hines REALTOR® Keller Williams Realty 902-680-2146 tammyhines@live.ca

Real Estate Good time to buy?

We hear all kinds of media and opinion on whether now is a good time to purchase a home or not and whether it is more affordable or not. This may help you decide:

 

Did you know that in 1986 to purchase a home for $80, 000, with an interest rate of 11.5% the monthly payment would be $813.18? The same monthly payment today will purchase a home for 172,500, with an interest rate for 2.97%. Wow!

 

I would say it a great time to buy a home!

Tammy Hines  902-680-2146

REALTOR® Keller Williams Realty, Kentville Nova Scotia

Real Estate News

The national housing market remains steady and strong and is expected to stay on a stable course for the midterm.

Job growth is a bright spot in the Canadian economy.  For the second consecutive month, job growth far exceeded expectations with 58,200 new jobs created in April, compared to the forecast of 10,000. Strong employment metrics set the stage for stronger expectations of GDP growth in the second quarter of 2012. Canada’s economic indicators point to strength tempered by external forces including uncertainty about the global economy’s momentum, driven primarily by continued concerns in Europe.

A well-balanced housing market provides opportunities for both buyers and sellers. Interest rates remain historically low and present buyers with extremely favourable financing options. The time to act is now, because as global recovery resumes, rates will likely rise to keep inflation in check, resulting in a higher monthly housing payment for home buyers