Oakville Homes

February 9, 2009

Price cuts – How will they affect your home?

As we know, the economy and house values have taken the big dive, thanks in part to a bunch of greedy people who seem to have escaped with their shirts, while the rest of us are feeling a bit naked in terms of finances. Poor Conrad Black must be feeling a bit put out considering he got caught and is doing the time, while his rich buddies are out there enjoying the champagne life. But, that is another story. In order to attract customers, most builders are cutting their prices and Mattamy is no exception. Visit their website and you’ll see savings up to $40,000 advertised.

This begs the question – just what is being sacrificed in order to make these price cuts? For those who bought just a few months ago, you must be wondering how they can cut such a substantial amount off their homes, especially if you paid big money for upgrades in order to make your house look presentable. Well, maybe they are going to cut back on donations to their local political interests or, maybe the charities will take a cut or, they will just stop giving new homeowners a bouquet of flowers.

Or, maybe the construction of your house will be adjusted to reduce the costs. In my last blog I told of someone who is unable to install a garage door due to the height of his garage. Did they save money on his house by not putting in the extra bricks, etc to raise the height of the garage, thus saving money for Mattamy but costing the homeowner a couple of thousand dollars in garage door replacement? Who knows and I doubt Mattamy Homes will tell us why a garage door opener isn’t possible. 

I should note that his house is the only one on the block with the problem.  And no, he didn’t give them a hard time during construction.  Actually, it was the opposite, he didn’t spend enough time there as he trusted the Mattamy name and the Town of Oakville.

This is only more proof that you really need to hire a house inspector to protect your interests/investment. When the price slashing starts, it won’t be the president who takes the pay cut (unless Obama orders it) but it might be the consumer who gets the quality adjusted to conform to the new price. Unless you are skilled in construction, you’ll never know if your house was adjusted to take in the price cuts. So, for your piece of mind and possibly cost savings down the road, an investment in a house inspector is a good financial decision in today’s day and age, no matter who is building your home.

Just think, instead of saving $400 to $500 on not hiring the house inspector, the aforementioned homeowner gets to spend over $2000 in adjusting his home to accommodate something everyone takes for granted – an electric door opener.

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