5 costly mistakes detached home buyers make
The most common and most expensive ones, and how to avoid each.
1. Ignoring what is about to need replacing
A detached home with a 20-year-old roof, an original furnace and old windows can need tens of thousands of dollars of work in its first few years. Ask the ages before you offer and build them into your price. The detached home checklist covers what to ask.
2. Comparing bedrooms instead of lots
Two houses with the same bedrooms can sit on very different lots. Frontage, depth and shape drive price and what you can add later. How to read lot size and frontage.
3. Assuming the basement suite is legal
A basement apartment that was built without permits may not meet fire and building code, which affects insurance, rental income and resale. Ask for the permits and, if you plan to rent it out, have it checked.
4. Skipping the home inspection
On a detached home the roof, furnace, windows, foundation and drains are all yours. An inspection tells you how much life each has left, and whether a finished basement was done properly, before you commit.
5. Not looking at what sold on the street
Asking prices are what sellers hope for. Sold prices for similar detached homes on the same street are what the home is worth. Ask for them before you offer. Request recent sold prices for any street.
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