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March 2022 Market Update for Buyers

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In This Article:

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2022 Market Updates

March is typically the kick-off to a very busy real estate season! From here on out, you can expect more and more listings to hit the market each day 🎉

Pricing remains competitive and the presence of multiple offers seems here to stay for now. Remember – bidding in a multiple offer situation doesn’t mean you need to throw all caution to the wind! Make sure to craft an offer that puts your “best foot forward,” while still remaining true to your long-term goals and dreams.

We’d love to help you find your dream home or cottage! In this crazy competitive market, we can assist in crafting the perfect offer, to help you put your best foot forward.  Shoot us an email to schedule an appointment where we can get a feel for your preferences and see how we can be of service! 

Whether you’re in the area or not, if you’re wanting to check out some additional tips and resources regarding buying during this crazy season, as well as all the tips we’ve compiled to assist buyers throughout the homebuying process, feel free to check out our “buyers” section below!

Check Out Our Buyer’s Section Here

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Preparing for a Home Inspection

This month’s tip is all about home inspections. Having a home inspection can potentially save you thousands and thousands of dollars & a whole lotta heartbreak. They can be reassuring, fun and exhausting all at the same time. Below, we’ve listed what you can expect to learn about the home inspection process in this article.

  1. What Is A Home Inspection?
  2. How to Prepare
  3. Finding An Inspector
  4. What You’re Responsible For
  5. Bonus 🎉 Downloadable Home Inspection Checklist

What Is A Home Inspection?

A home inspection is a vital part of the homebuying process. Some may even say it’s one of the most important parts! It ensures that the home you’re absolutely in love with and already visualizing yourself moving into, is truly what it seems. Nobody wants to close on their dream home, move in with their family, get settled, just to find out there’s a bad foundation or a leaky roof. A home inspection is a part of the home buying process for that exact reason! During a home inspection, a home inspector will check out all of the functional aspects of the house to determine its safety. They’ll take a close look at the plumbing, electrical, heating, and cooling, as well as the foundation, the roof, and the home’s exterior. To be clear though, a home inspection doesn’t just provide you with a list of problems you’ll want to negotiate with the seller or, worse, something catastrophic that makes you back out of the deal altogether, but instead gives you a detailed report that basically acts as a new homeowner’s manual, which includes a home maintenance schedule and checklist. Don’t expect your home inspector to fix anything or warn you about potential issues, simply to take note of the condition of the house, specifically focused on any safety or repair concerns. 

How to Prepare

First things first, get excited!! Inspection day is usually a very exciting day, as it’s probably the first time you’ll be going into the home since you made the offer. What’s even more important than that, if the opportunity that comes with it. It’s the day you’ll get a clear idea on what you’re getting yourself into when it comes to the condition that the home is in. So, a few tips on how to prepare 🙂

  • First, you want to know what to look for. A great place to start is checking if any unpermitted work has been done on the home. If you ever decide you want to remodel, you’ll want to ensure everything is up to code, or you could be the one responsible for bringing the house up to code before being able to complete your remodel. Areas of focus are plumbing and electrical – you’ll want to have the work carefully inspected if it’s been done unpermitted. 
  • Second, you want to ensure you have enough time to really immerse yourself and be a student during the inspection. Block out an entire half of the day if your schedule allows! Follow along as much as you can, and don’t be afraid to speak up and ask questions. 
  • Third, obtain a seller’s disclosure statement. This will help you identify any potential issues that you want the inspector to take a closer look at. Requirements vary based on your location, so ask your real estate agent if you have any questions about what’s included. It will typically come in the form of boilerplate documents with a series of yes/no questions for the seller.

Finding an Inspector

Before finding and hiring an inspector, it’s important to know what an inspector actually does! In short, a home inspector is trained and certified to examine the house and identify any safety or repair issues or concerns. Although they’re trained professionals, that doesn’t mean that they see all problems the same way, which makes choosing the right Home Inspector key to protecting you and your family. It’s important to choose a reputable inspector who will look out for your best interests, but who also understands your wants and needs for the home. If you live in the Grey / Bruce area, we have a fabulous, extremely knowledgeable local Inspector that we use frequently. 

Check Him Out Here

What You’re Responsible For

Although you’re hiring a professional to inspect the home for you, there’s still a few things you’re going to be responsible for. As the buyer, you’re responsible for finding and hiring the home inspector, paying for the home inspection, and ensuring that you have a decent grip on what goes into a home inspection so you can go into the inspection empowered and educated. There are some instances where a seller will pay for the home inspection – but this generally only happens if the seller is concerned about what may be found in an inspection or is wanting to make repairs before their home is listed – in this case, the seller would pay for their own pre-listing home inspection. If you’re the one paying for the home inspection, you can expect to pay anywhere from $200-$700 CAD. If this seems a little steep, think of it as a very wise investment for your peace of mind to ensure you’re safe from any unexpected problems or costly repairs in the future. Lastly, to elaborate on the importance of going into your home inspection educated and empowered – it’s important that you have a clear understanding of what your inspector will be looking for and what they’re liable for so that you can ask questions accordingly. Ensure you look over your contract first so you understand if the inspection company will pay for repairs related to issues they should have caught (but didn’t), or if they’ll just refund your inspection fee. If it’s the latter, then you’d probably go into the inspection knowing that you’re wanting your inspector to be very thorough to ensure any potential problems are identified so that they aren’t surprises later.

Bonus  🎉 Downloadable Home Inspection Checklist

Enjoy a well deserved bonus for making it to the end of these home inspection tips! This checklist is sure to keep you organized during your initial home tour to catch any problems ahead of time, and throughout the home inspection process so that if any of the items on the checklist aren’t included in your inspection report, you can ask your inspector why! 

Get Your Home Inspection Checklist Here


Local Upcoming Events 

For any readers local to the Grey / Bruce, ON area – this short section is for you! 

Spring is almost here! That means March Break is right around the corner, and there’s tons of great stuff available for kids that you can check out here.

March Break isn’t the only thing to look forward to this month though! March also kicks off Maple Syrup season – and if you haven’t been to a local Maple Syrup festival, it’s a must have on your 2022 bucket list, especially with the province opening back up this month. You can check out the local Maple Syrup Festivals here 🍁

Hope you loved this month’s update and suggestion! If you’re in the Gray / Bruce, ON area and are wanting monthly market updates, local featured listings, and monthly local events, sign up for our newsletter here!

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Let Us Find Your “Happy Place”

If you’re local to the area and are looking to find your dream home, cottage, or vacant land property during such a crazy and busy time in the market, we would absolutely love to see how we can be of assistance along such an exciting journey! Schedule an appointment where we can get a feel for your preferences and see how we can be of service! 🏡

Schedule An Appointment Here

If you loved this blog post or have any suggestions for what we should include in next month’s blog post, shoot us a quick email and let us know“!

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