Ads Google

1 in 4 homebuyers had issues after purchase says insurer

by Steve Randall on 30 May 2017
Costly repairs could be awaiting homebuyers as a new survey shows that owners may be missing some important factors when renovating or carrying out maintenance.

Allstate Canada found that 58 per cent of homeowners are planning to do renovation work but 32 per cent of those are looking at cosmetic projects. The insurance firm says they could be ignoring risks.

"Picking out a wallpaper pattern is much more fun than having to remove it after-the-fact, so taking a step back to see if there are risks brewing under the surface and taking care of those first may help avoid a lot of headache and heartache," says André Parra, Regional Claims Director at Allstate Canada

For buyers, missed damage such as water leaks, roof infiltration and electrical wiring hazards can mean costs and inconvenience for homebuyers.

A quarter of buyers surveyed said they had problems after buying a home with over half facing costs of at least $1,500. Almost a third said they would have gone about their homebuying experience differently if they could do it again.



Post a Comment



Most Trending News

Training new skilled trades workers must be a priority
News

While there has been a deceleration in new home sales, we must keep the pedal to the metal and continue to train skilled trades workers for the future.

Read More
To build 1.5M homes, we must think outside the box
News

Many jurisdictions in the U.S. have been thinking outside the box to boost the housing supply. Here in Ontario, we’d be wise to follow suit.

Read More
Upcoming free event: Canadian Real Estate Investment Summit
News

This free summit will feature top experts in Canadian real estate who will share their knowledge on a broad range of topics. It will be presented on Sat. Jun. 18th from 12pm-3pm.

Read More