Condo and New Build 2018 _NEW2_Digital_Condo_2018 | Page 44
MISTAKES
EXPERTS WEIGH IN ON THE BIGGEST MISTAKES BUYERS MAKE
WHEN CONSIDERING A HOME PURCHASE.
FAILING TO CONSIDER ALL OF
THEIR OPTIONS! CONDO BUYERS FAILING TO EDUCATE THEMSELVES
BEFORE PURCHASING!
Homeowners will sacrifice their dream
location because they can't find a
house that suits their needs or leave a
neighborhood they love because they
have outgrown their home. There is no
need to compromise! In both situations,
an addition provides the perfect
solution. For homeowners who love their
neighborhood, an addition can drastically
increase available living space and may
also be more cost efficient that moving
would be!
When looking to buy, if there are no
available properties in your desired
neighborhood that offer the space you
need, an addition can turn a smaller home
into your dream home! While we all love
the idea of a "move in ready" home, a
little extra effort and the help of an expert
team can result in the perfect home in the
perfect neighborhood with no regrets! - Condominiums are non-profit corporations which are governed by legislation
that can vary from province to province. When you purchase a condo unit,
you become a shareholder and are responsible (through condo fees) for the
financial obligations associated with maintaining the building and retaining peak
market value.
The seller is required to provide you with current documents such as financials,
Reserve Fund Studies, meeting minutes, management agreements, bylaws,
insurance certificates and registered documents. It is important to engage a
professional document review company to assist in putting that information into
an easily understood picture of the corporation’s health and welfare. This review
helps you to understand the corporation’s current condition and any foreseeable
future issues such as major renovations or repairs that may affect your costs
or the value of your unit. An experienced document reviewer will also be able
to answer all of your questions and give you more information on bylaws and
legislation.
Being aware of the corporation’s current and future condition is in your best
interest as a future condo owner. Details matter. – Sharon Blondin, www.CondoQuest.
Bole Cirovic, www.Modular.ca
net
FAILING TO OBTAIN A HOME PERFORMANCE DIAGNOSTICS
REPORT!
This report provides valuable information about the current condition of a home
and possible future issues. Essentially, it provides a detailed checkup of the
home.
Unlike a typical home inspection, the home is tested under dynamic conditions
in order to show how it breathes (are there leaks) and the condition of it's heart
(furnace/AC systems), arteries (ducts), and coat (insulation). The tests also
show how effective and efficient air filtration is in the home, ensures all gas and
combustion appliances are leak free, checks quality of building materials and
effectiveness of the exhaust ventilation.
In case of any indoor air
quality concerns, a separate
assessment is performed.
Samples for mold, bacteria
or any other contaminant are
processed by a registered
lab. The report also includes
a list of improvements
recommended to rectify
deficiencies found and a post
renovation/ improvements test
can be performed to verify
the results. - Andrej Bagar, www.
FluxAir.ca