🚽 4th Nov 2024 - Canadian Landlord slammed for Renting out Bathroom for $550 a Month!

💥 Monday 4th November 2024 💥 11 Home Inspection Pitfalls - FREE Report! GTA Real Estate Buzz: Today’s Hot News! "Your Essential Guide to Real Estate Success: Free Reports & Fresh Listings!" "GTA Real Estate Buzz: Today’s Hot News" is your go-to source for the latest developments in the Greater Toronto Area's real estate market. Each day, we deliver a curated selection of breaking news, market trends, and expert insights to keep you informed and ahead of the curve. Whether you're a buyer, seller, investor, or simply interested in the market, our daily updates ensure you're always in the know about the hottest developments in the GTA real estate scene. Stay connected with "GTA Real Estate Buzz: Today’s Hot News." How Do Home Inspection Pitfalls Differ in Newly Constructed Homes Compared to Resale Properties? Home inspection pitfalls can vary significantly between newly constructed homes and resale properties. Each type of property presents its own unique set of challenges and potential issues that buyers should be aware of. Here’s a breakdown of the key differences in home inspection pitfalls for each: Newly Constructed Homes 1. Quality of Construction Pitfall: Even newly constructed homes can suffer from poor craftsmanship or subpar materials. Inspectors may find issues related to framing, roofing, and finishes that do not meet industry standards. Consideration: Buyers should ensure that the builder adheres to local building codes and that quality materials are used throughout the construction process. 2. Incomplete Work Pitfall: New homes may be sold before all construction work is completed or before all inspections are finalized. This can lead to unfinished installations, such as missing railings, incomplete landscaping, or unconnected utilities. Consideration: It's essential to verify that all aspects of the home are completed and that all required inspections have been conducted prior to closing. 3. Building Code Compliance Pitfall: Some builders may take shortcuts that violate local building codes, leading to potential safety hazards. These issues may not be immediately visible during a walkthrough. Consideration: Buyers should obtain and review any inspection reports from local authorities to ensure the home complies with all building regulations. 4. Warranty Limitations Pitfall: New homes often come with warranties that may not cover all issues or may have strict timelines for claims. Buyers might assume all problems will be addressed under warranty, but certain conditions might apply. Consideration: Understanding the warranty terms and keeping records of inspections and repairs can be crucial for future claims. 5. Settling Issues Pitfall: Newly constructed homes may experience settling over time, which can lead to cracks in walls, ceilings, or foundations. Consideration: Regular inspections in the first few years of ownership can help identify and address settling issues early. Resale Properties 1. Deferred Maintenance Pitfall: Resale properties may have a history of deferred maintenance, leading to issues such as outdated electrical systems, plumbing problems, or roof damage. Consideration: A thorough inspection can help uncover these hidden issues, but buyers should also be prepared for potential repairs. 2. Hidden Defects Pitfall: Older homes might have hidden defects that are not immediately apparent, such as mold in attics or behind walls, plumbing leaks, or issues with the foundation. Consideration: Buyers should consider hiring specialized inspectors for aspects like plumbing, electrical systems, or pests, in addition to the general home inspection. 3. Renovation Quality Pitfall: If previous owners made renovations or repairs, the quality of work may vary, leading to potential safety concerns or the need for future repairs. Consideration: Inspectors should evaluate the quality of renovations, and buyers should ask for documentation regarding any significant updates or improvements. 4. Building Code Changes Pitfall: Older homes may not meet current building codes due to changes in regulations over the years. This can lead to complications if buyers plan to remodel or expand the home. Consideration: Buyers should be aware of potential code violations and consider whether future renovations will require significant upgrades to meet current standards. 5. Pest Infestations Pitfall: Resale properties may be more susceptible to pest infestations, including termites, rodents, or other pests, especially if maintenance has been neglected. Consideration: A pest inspection can be a valuable step in the buying process to uncover any potential infestations that could lead to costly damage. Conclusion While newly constructed homes often present challenges related to construction quality and compliance with codes, resale properties typically come with concerns about deferred maintenance and hidden defects. Both types of properties require thorough inspections, but the focus areas may differ. Buyers should work with experienced home inspectors who understand the nuances of both newly constructed and resale homes to ensure a comprehensive evaluation and informed purchasing decisions. By being aware of these pitfalls, buyers can better prepare for homeownership and avoid potential issues down the road. "🔥Toronto Real Estate: Hot News & Trends 🏡" Canadian landlord slammed for renting out bathroom for $550/mo | Urbanized The latest listing to make rounds on social media this week is a converted bathroom in Brampton for $550 per month. dailyhive.com Read Now ... What is a Mortgage? If you're wondering what is a mortgage, look no further. Read on for a deeper understanding of mortgages so you can make an informed decision. blog.remax.ca Read Now ... Here's what you can buy for $729,000 in 8 Ottawa neighbourhoods CTVNewsOttawa.ca looks at what you can buy for the average Ottawa home price of $729,000 in eight Ottawa neighbourhoods. ottawa.ctvnews.ca Read Now ... Victoria's real-estate sales surged 60% in October as mortgage rates fell | Citified.ca 654 property transactions were recorded in October amid stable residential real-estate prices. victoria.citified.ca Read Now ... Canadian Real Estate: What to Know Before You Buy Owning Canadian real estate has paid off for many people, but owning isn't right for everyone. Here's what you should consider before you buy. blog.remax.ca Read Now ... How much the Bank of Canada will cut interest rates in 2024 Dawn Desjardins, senior economist at Deloitte Canada , talks with Financial Post’s Larysa Harapyn about what the latest inflation data means to the Bank of Canada and interest rates . Deloitte is forecasting 75 basis points of cuts in 2024 with the first one in June and two more in the second half of the year. Mortgage lenders offering 'extreme discounts' behind the scene It will take years for dust to settle on TD money-laundering scandal... msn.com Read Now ... Can Canadians really breathe a ‘sigh of relief’ on mortgage rates? Tiff Macklem hailed Bank's latest move last week – but one financial advisor isn't so sure mpamag.com Read Now ... 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Calgary Real Estate Board says home sales mostly stable compared to last year Calgary's October home sales were mostly flat compared to last year, this is according to the Calgary Real Estate Board. calgary.citynews.ca Read Now ... This Week's Top Stories: Canadian Real Estate Investors Brace For Population Declines, & Toronto Condos Plunge - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Immigration Changes To Impact BC & Ontario Real Estate Most: BMO Canada is changing course on immigration and that means real estate investors should pay attention. A new BMO Capital Markets report notes the population declines will be felt the sharpest […] betterdwelling.com Read Now ... Where should Canada look to improve its housing situation? 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This mortgage insurance helps investors secure funding for residential, multi-family, and mixed-use rental properties. cmhc-schl.gc.ca Read Now ... 1 in 4 Vancouver tenants spending more than half their income on rent: report The path to homeownership in Vancouver is becoming increasingly out-of-reach for many renters. bc.ctvnews.ca Read Now ... "📝 Message from the Editor ✨" Welcome to my Newsletter Page! 🎉 I am a professional Real Estate Agent here in the Toronto GTA 🏙️ with an architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home 🏡. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers 💡. I am committed to providing excellent service and going above and beyond for my clients 🤝. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings 🌟. Contact me today! 📞(416) 275-2089 ✉️ Manoj@ManojAtri.com Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings 🔗. Call | Email me for more Info on any GTA Listings, Buying, Selling, Investing or Homebuyer's queries 📩. Click Here to View Listings like Real Estate Agents 🏘️. Click Here For HOMES & CONDOS In Toronto 🏢. Click Here For PRE-SALE CONDOS in Toronto🏗️. How does Rent-To-Own Homes works 🤔? Click Here for Power of Sale Listings💼. 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