Joanne Millar

Cell: 250-202-7253 |

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What is a home inspection and why is it important?


A home inspection is perhaps one of the most crucial stages in the process of acquiring a home. It’s the buyer’s last opportunity to discover problems with the house before purchasing. And it’s a chance for the seller to address those problems and negotiate pricing with the buyer.

 

What do home inspectors look for?

Here’s a full list of what the inspector will review

  1. Heating system
  2. Central air conditioning system (temperature permitting)
  3. Interior plumbing and electrical systems
  4. Roof
  5. Attic, including visible insulation
  6. Walls
  7. Ceilings
  8. Floors
  9. Windows and doors
  10. Foundation
  11. Basement
  12. Structural component

 


What to expect from a house inspection as the home seller


It’s in your interest as a home seller to provide quick and easy access to everything on that home inspection checklist. Here are some ways you can help:

  1. Leave keys (for instance, for your electrical panel), and label where the inspector can find them
  2. Make sure all pilot lights are on for fireplaces and furnaces, even in summer, so the inspector can check the heating and other appliances
  3. Tidy your basement. There needs to be an unobstructed path down the steps and through to your furnace/HVAC unit/water heater and anything else that needs inspecting
  4. Tidy your attic same as your basement
  5. Clean up key areas in your yard so the inspector can easily access your crawl space, drainage access points, or septic tank
  6. If the home is vacant and the utilities have been shut off, have them reconnected

Being helpful won’t necessarily buy you a better report, but even professionals appreciate thoughtfulness.

 

 

 

Next steps after a home inspection

If the home inspection report showed only minor and expected problems, the home buying process should continue as planned.

You may choose to give the seller, or the seller’s Realtor, a list of minor issues to fix. Getting the owner to fix a leaky faucet, replace a missing doorstop, or re-attach a downspout will shorten your to-do list after moving in.

After these repairs have been completed you may want to do your own walk-through inspection to make sure all the items on your list got fixed.

Addressing serious issues

If your home inspector uncovers safety or structural issues, you’ll have a more important decision to make: Should you still buy the home?

If you do want to move forward, you’ll need:


  • Additional inspections — Home inspectors are not necessarily specialists on any one aspect of home construction. A specialist such as a structural engineer should assess the condition of the home to determine what work and cost will be needed to fix the problems
  • Negotiating — You’ll need to request repairs as a condition of buying the home. The seller may agree to lower the price if you’ll still buy the home in its current condition. Or the seller may agree to fix the problems before closing
  • Following up — If the home needed significant repairs such as foundation lifting or water diversion, get the expert who diagnosed the problem to come back out and check the quality of the repairs

Using the home inspection as a guide

Home inspections provide valuable information before you buy a home. But they can help you make decisions after closing on the home, too. Your home inspection report could serve as a guide to scheduling and planning future repairs.  For example, if the report noted the HVAC system was 15 years old and uses an inefficient blower, you’ll know to start planning ahead for replacing the system in the next few years.

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If your current home isn't your forever home or you purchased the property as an investment, you can speed up the home's increase in value over time by making smart home improvments. According to a cross-Canada survey of over 750 Royal Lepage real estate experts, a kitchen renovation is the clear upgrade of choice with the potential to boost a properties value by 12.5%. Here's how other popular home improvements stack up: 


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I wanted to take a moment and share some of Campbell Rivers local hidden gems.  I believe there is something for anyone, I hope you enjoy!


Eateries

I’m a foodie, here are some of my favorite little places to stop in for a bite to eat or take out.


Dave’s Bakery  - Is locally owned and has been in Willow Point for over 25 years, serving some of the finest fresh baked goods, soups and sandwiches.


The Island Grind – Their goal is to encourage the Campbell River community to come together through delicious, healthy foods and friendly faces.    


Asiatopia – Is little hidden market that offers special authentic Asian finds, such as sauces, noodles, and spices.  Check out the amazing flavorful menu – there is something for everyone. 

 

Local Merchants

While out and about, check out these local merchants, they are a few of my favorite gems.


Bough & Antler- The seaside gift store has a broad selection of in-house created clothing and pottery as well as a well curated collection of gifts, jewelery, books, cards, art and much more - created both locally and abroad.


Golden Anchor Tattoo – They specialise in creating a tattoo that you and the artist can be proud of, check out their merchandise which is designed in house.


Muscle & More -Is a family owned and operated business creating unique pieces of pottery and more.  Every piece is different then the other, as they all hand crafted. 


Heath and Fitness

I love being active and trying all new forms of health and fitness, these are a few top picks for everyone’s needs.


Ocean Mountian Yoga - Their experienced teachers hold powerful space and teach from their hearts. You can find a variety of classes such as hatha, vinyasa flow, prenatal, mom and baby, kundalini, nada, restorative, yin, nidra, meditation.


Primal Athletics – They do things a bit differently and we love it. They offer services such as CrossFit, Bootcamp classes, Personal Training, Kids Training programs, Team Training programs, Workshops and Specialty Programs.


Heart And Soul Mauy Thai – They share with everyone the great physical and mental aspects of learning a martial art.  It’s a fun, friendly, safe atmosphere surround by a group of amazing people.

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I have listed a new property at 1925 Raven Pl in CAMPBELL RIVER.
Only steps from the ocean and sea walk and located on a quiet cul de sac. This Willow Point home has been freshly painted inside and features the main level up with 3 bedrooms, 4 pc bath, a large living area with gas fireplace and functional kitchen with eating nook providing access to the large sun deck. Downstairs provides a great space for the whole family with a good sized family room with gas fireplace and sliders to access the large patio. Completing the ground floor are laundry room, bathroom and separate mud room which is conveniently accessed from the carport. This .25 acre pie shaped lot, delivers a good sized back yard, and plenty of room to park all your toys with 3 bay carport, RV parking, and large driveway, plus extra storage attached to carport.
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SATURDAY, JUNE 10 2017

ROYAL LEPAGE Advance Realty proudly brings the 2nd Annual Royal LePage Advance Campbell River Salmon Derby with a $5,000 cash prize for the largest Salmon!
More Prizes to be announced soon!

The 2016 Derby was a huge success with over 700 Registered to fish, 20,000 in cash and prizes given away and over $47,000 raised for our 2 local charities- CR Salmon Foundation and North Island Transition/Ann Elmore Womens Shelter.

 

For more information and to register please go to https://www.picatic.com/royallepagederby

 

Tickets are also available at our office! 972 Shoppers Row. We look forward to seeing you there! 

 

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1. Curb Appeal: Easily boost your curb appeal with the following ideas:


*Add a new coat of paint to your front door, choose a colour that pops, like red or blue.

 

*Plant some colourful flowers or some shrubs in your garden.

 

*Add solar lighting along your walk way.

 

*Add oversize planters on either side of your front door. Make them pop with added colour.

 

*Put your garbage cans away, clean any old winter debris from the lawn and try to keep the lawn maintained.

 

*Pressure wash your driveway and house, this is a great way to give your home and driveway new life!

 

2. Spring cleaning: Get all those little home renos done now, they will help you get top dollar for your home!


* Declutter and depersonalize your home! 

 

*Ad a fresh coat of paint to the walls and baseboards.

 

*Fix loose cabinet doors, door hinges, loose screws and repair any holes in walls,

 

*Open it up! open the curtains and get as much natural light in your home as possible,

 

3. Porch and Patio: You want to make these inviting, Spring is the perfect time to sit outside and relax!


* Clean your outdoor living space. 

 

* Pressure wash your patio, add a fresh coat of paint or stain if necessary.

 

* Add some planters and lighting to your space.

 

4. Market and Price it Right! Call Jo:


It is very important to market and price your home appropriately. Contact me today for your complimenatry home evaluation and to discuss an appropriate marketing plan for your home that will get you top dollar!

 

 

 

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The date is set for the 2nd annual Royal LePage Advance Salmon Derby! Last year was such a great turnout, this year will be even better! Dont forget to mark your calendars and tell your friends! More info to follow at https://www.picatic.com/royallepagederby and on Facebook at https://www.facebook.com/events/1193741920680810/

 

We are so excited to get the planning underway for this years event and to make it even bigger and better than last year! Help us get the word out by sharing the link on facebook ~ 

 

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Home buyers should expect tougher mortgage rules to kick in as early as November 1 of this year.

In an announcement released today by the nation’s financial regulator, banks and lenders that offer mortgage financing will face stricter regulations and this will translate into tougher lending rules for home buyers.

Hot markets prompt tougher rules for banks

“These changes aim to reinforce the need for banks to exercise prudent underwriting and proper due diligence when originating insured mortgages,” the Office of the Superintendent of Financial Institutions (OSFI) said in a statement. OSFI continued by stating: These proposed changes to mortgage lending “reflect the changing risks in the Canadian mortgage market.”

In the last year, policymakers have warned that Canada’s housing market is overvalued in some cities, such as Vancouver and Toronto. As such, the current Liberal government has been keen to limit taxpayer exposure to any potential price correction and real estate market downturn. For months, Federal Finance Minister Bill Morneau and the government-owned mortgage insurer, Canada Mortgage & Housing Corp. (CMHC) have been floating the idea of prompting lenders to hold more capital for residential mortgages to protect against defaults.

Taxypayer will be less exposed

The aim of these new regulations is to put more of the onus on banks. By requiring lenders to hold back more money in their own reserves—to cover potential defaults, should markets correct and prices fall—OSFI is reducing taxpayer’s risk at having to cover a shortfall and putting more responsibility on mortgage lenders.

Under current guidelines, banks and mortgage lenders are required to maintain a certain amount of capital to back mortgages offered to home buyers, as well as to comply with OSFI risk-mitigation rules. Under the proposed new rules, OSFI will demand that banks increase how much capital they hold to cover mortgage currently in the market. And, if OSFI finds that a lender isn’t following these new policies, it may reconsider the lenders mortgage insurance.

The move is part of an international effort to shore up financial markets and to protect taxpayers and economies from the devastating impact of over-leveraged financial institutions. (This is in direct response to how badly the American banking system was hit during the 2008/2009 financial crisis.)

How it will impact the Canadian home buyer

As a federal regulator, OSFI’s requirement will impact banks and lenders across Canada. This means buyers in all market will feel the impact of these changes, not just home buyers in hot markets, such as Toronto and Vancouver.

Banks and mortgage lenders will pass down the extra costs of these stricter regulations to the end user. This is done by either increasing mortgage rates or implementing tougher lending requirements for those applying for a mortgage.

For the average Canadian home buyer, then, this could mean that as early as November, it will either be:
→ harder to get a mortgage
→ mortgage rates will start to rise (even slightly)
→ or you won’t qualify for as large a mortgage as you would’ve prior to these new rules.

When will tougher rules take affect?

Today’s announcement of the proposed new mortgage guidelines comes after more than six months of private consultations between OSFI and the banking sector. Now the public and other stakeholders have until October 18 to submit comments before any of these new guidelines take effect. Then the implementation of new mortgage rules will be phased in—some lenders, with a fiscal year-end of October 31, will need to enforce these stricter mortgage rules starting November 1, 2016, while lenders with a fiscal year-end of December 31, will enforce the new rules as of January 1, 2017.

But don’t expect changes in the mortgage or residential real estate market to stop here. This week, Morneau mentioned that additional measures may be needed to manage the risks associated with the “highly charged” Vancouver and Toronto housing markets.


Article by: Ramona King

Borrowed from: Moneysense.com and Ramona Kings Home Owner

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Canada Day is right around the corner! It falls on a Friday as well which will make for a nice long weekend. If your looking for something to do or for a schedule of the events going on June 30th and July 1st check out http://www.campbellrivercanadaday.com/ I hope everyone has a fun and safe Canada Day with their loved ones!

 

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Come out and join us for the 14th Annual Cops for Cancer Tournament, Dinner & Auction. The golf tournament tickets are sold out but there is still dinner & auction tickets available as well as raffle tickets. Please feel free to contact me if you would like to purchase raffle tickets! they are just 3 for ten bucks! You can reach me via email, the office (250-286-3293) or on my cell (250-202-7253) its sure to be an awesome event. 

 

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Our First Annual Royal LePage Salmon Derby was a success! with the help of our volunteers, prize donors and the community we were able to raise over $44,000 to give back to the community! What a great day it was, from the silent auction to the food and live music, fun events for kids and watching those salmon get weighed. It was a great day. I look forward to seeing what we come up with for next year. Thank you to everyone who was a part of this event and to everyone who came out and supported. Cant wait for next year!

 

 

 

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