By Jennifer Lynn Walker
My value proposition
Buying a property is no easy feat. There are a lot of moving parts and so many things to think about. One of the biggest elements of buying is knowing the integrity of the building. This is the condition or health of the structure. This aspect of the purchasing has the potential to wildly affect your bank account after you buy. The last thing people want is a money pit. It’s definitely best to know what you are getting into ahead of time.
One of the main facets of buying a building, is having a professional building inspection done. This is very important as it will give you a complete run down on all the visual issues. However, by the time you’ve reached that point in your offer, you’ve put in many hours negotiating and doing your due diligence, working with the bank and possibly spending over 1000$ on a professional inspection, only to, perhaps, find out that there are too many renovations, big structural issues, or main frame replacements. As well, a list of a bunch of small things that add up quickly. Wouldn’t it be great to find all this out during the initial visit?
When you are shopping online for a property, the description, pictures and mandatory declaration only tell you so much. The first visit is where you can discover many things about the building, even things that an owner may not even know!
A real estate broker who knows a thing or two about construction, the health of a building, how it works and certain renovation price points, can save you so much money and time. On the first visit, they can potentially flag many issues that may stop you from moving forward. Wouldn’t it be been nice to know some of these things before putting in an offer and spending your money on an inspector?
This is not to say that a knowledgeable real estate broker replaces the inspector. Any good real estate broker will always recommend to get a professional building inspection.
With all things in life, you have to be aware of who you have hired and their skillsets. If a real estate broker is pointing out issues and talking about costs, as them questions on how they came about to know so much. As them their background, training and question why you should trust what they are telling you.
A real estate broker is here to make your life easier. You should feel comfortable and secure in your decisions. Buying a property should be based on research, fact and don’t forget “good ol’ intuition”. Make sure the end result is that your budget lines up with your purchase, including all that needs to be done immediately and in the near future. Knowing what to expect and budgeting, will make your life so much easier.