While there are signs that Toronto’s record-setting real estate market is starting to cool a little bit, the recent months of consistent double-digit increases and bidding wars forced some bad habits out of home buyers.
Until the market started heating up beyond expectations, a home inspection had become an almost standard part of any offers made by buyers. It makes lots of sense considering that buyers have little or no protection against anything being wrong with the house they buy. Generally speaking, once they buy it, they own it and all its problems.
But, more recently, news broke that buyers were foregoing the ‘home inspection’ stipulation in their offers hoping to get an advantage against the stiff competition in the market.
Get Your Roof Inspected – No Matter What
A good home inspection includes an analysis of the roof, including the shingles, roof deck, supporting beams, attic, fascia, soffit and eaves. Inspectors know how to spot signs of problems, which are mainly related to moisture leaks, water damage and mold growth.
But, even if you have to pay for it yourself, if you don’t get a full home inspection, you should at least ask a roofing company to inspect the roof of the house.
Here’s why it’s so important to know the condition of the roof.
1. They Are Costly to Replace
With the costs of replacing a roof in the $5,000 to $10,000 range, you might be facing a hefty bill just after you move in.
2. A Roof Leak can Damage Any Other Part of the House
A leak in your roof affect more than the roof. Over time, the moisture that gets in can travel through the ceiling and into the walls to cause problems almost anywhere in the home, even a basement flood.
3. The Other Damage Can Be the Most Costly
The damage that a roof leak can cause elsewhere in the home can be the most expensive of all. Moisture in dark places can attract mold spores. If enough mold grows in the crevices of your ceiling, walls and basement, it will be far more costly to get rid of it than to fix the roof. And that’s just one problem a leaky roof can cause.
With average prices at well over a $1,000,000 in some areas of Toronto and GTA, buying a new home is a huge investment. You owe it to yourself to do everything you can to make sure that investment is a good one.