If you are considering the purchase of a home, you should have a checklist of things to personally inspect for the property.  The quality of the windows in a house can be a good gauge for the overall quality of the building itself. 

It’s important to check the following:

1. Do the windows open and close properly?  Quality windows should slide easily and with little noise. Poorly manufactured windows tend to stick and make noises.  If any windows will not open or close at all, you need to find out why.  Is it the quality of the window or has the house shifted due to foundation problems?

2. Are the sills soft or mushy at the base of the window?  Often you can identify a soft sill by a “rotted” look, but make sure to run your hand across the sills with light pressure to see if there are any soft spots.  A mushy sill could be an indication of water penetration problems.  Long-term water problems can potentially lead to mold which is an expensive problem to fix.

3. Are there any water stains? Just because the sills are not soft, doesn’t mean there isn’t a leakage problem.  Stains around a window frame are clear signs of water problems.  If a room has been painted, try to find one that hasn’t.

Windows are almost always an indicator of the quality of workmanship for a home.  Take the time to have a close look before you consider making a purchase.

There are few purchases in life that carry the financial and psychological significance of buying a home.  Whether you are buying your first home, moving up to your dream home, or downsizing your home, it is important to understand the ground rules for success in the world of buying a home.

Making the wrong decision in buying a home can have damaging and long term effects, while making a wise decision in home buying can improve the overall value of the investment.  It is necessary to learn all you can about the process of buying a home and financing before setting out to purchase the home of your dreams.

While there are plenty of web sites designed to help first time homeowners, most experts agree that there is no substitute for one-on-one learning. Fortunately, most mortgage lenders, real estate agents and home inspectors will be able to provide this kind of assistance and support.

There are five basic ground rules when it comes to buying a home and shopping smart:

1.  Get your financing before you get your home

There are few things in life as disappointing as losing out on the home of your dreams because you were not able to secure financing.  While the desire to get out there and search for that great home is understandable, it is crucial to line up the financing you will need before you start shopping for a home.

Getting the financing ahead of time has a number of important advantages, including knowing how much you can buy.  By knowing how much home you can afford before you shop you will avoid wasting your time looking at unaffordable properties.

It is also important to take a good look at the various types of mortgage on the market before getting started in the home buying process.  For that reason, potential home buyers need to understand how each type of mortgage works, and to gauge which mortgage is the best choice for their needs.

2.  Look at the community, not just the home

It is a good idea to look at the entire community, instead of focusing on a single home. This can be a particularly important thing to consider for those moving to a new metropolitan area, as these buyers will be unfamiliar with the local climate and lifestyle.  It is crucial to determine the areas of town that are most desirable, and to consider things like distance from work and local shopping opportunities.

We have all heard that location is the key consideration when it comes to real estate, and that is certainly the case.  Buying a house in the wrong area can be a big mistake, and it is important to choose the location as well as the home.  Potential buyers can learn a great deal about the nature of the various neighbourhoods simply by driving around town, as well as by talking to other residents.

3.  Be fair with your first offer

Trying to lowball a seller on the first offer can backfire, as can paying too much. It’s important to carefully evaluate the local market, and to compare the asking price of the home with what similar houses in the neighbourhood have sold for.

Comparing the sales of comparable homes, is one of the best ways to determine what is fair, and to make sure that you neither overpay or underbid on the property.  A real estate agent can typically assist you with this.

4.  Always get a home inspection

Always investigate the home for any possible defects before making an offer.  Compared to the cost of the average home, the price of a quality home inspection is virtually negligible.

To find the best home inspector, it is a good idea to seek out word of mouth referrals as many of the best home inspectors rely on word of mouth advertising.

5.  Do not alienate the sellers of the home

Many real estate deals have fallen apart due to the personal animosity of the buyer and the seller.  It is important to avoid alienating the seller of the home during the process, and to avoid nitpicking every little detail during the sale.

Keeping the good will of the seller will help the transaction go smoothly, and it will provide the best environment for seller and buyer alike.

With back to school time rapidly approaching more and more parents are opting to buy a home for their kids to live in while attending university rather than spend money on rent or campus housing fees.

Essentially, rather than pay rent, some families would rather collect it.  Their children live in the house or condominium and rent out rooms to other students to help with mortgage payments.  And after graduation, they can sell the property for a potential profit.  In a city such as Ottawa, with approximately 70,000 full time students attending Carleton University, the University of Ottawa and Algonquin College this makes a lot of sense.

Also, having their own home can offer students a welcome break from campus chaos.  Students typically perform better in a comfortable environment.  Additionally, many parents are finding that owning a home actually helps their university aged children become more responsible since they are exposed to the world of taxes, bill payments, and home maintenance.

The option to hold onto the property after graduation can be an attractive one as there are many viable options.  The kids can continue to live there after graduation while they launch their careers or post-graduate studies.  Alternatively, depending on location, there is generally a good market of tenants looking for housing near university or college campuses. 

The neighbourhoods that are the most popular choices for “parent investors” are Sandy Hill and Lower Town for University of Ottawa students; Hogs Back, Dows Lake and Old Ottawa South for Carleton University students; and the Meadowlands, Centrepointe neighbourhoods of Nepean for Algonquin College students.