Oakville Homes

April 20, 2010

House or Home? What’s in your future?

alphainventions

Whatever happened to homes as opposed to houses?**

I’ve been suffering the usual computer problems I am sure we have all suffered in the past and, certainly will in the future.  So, I went and helped a friend clear some land.  Nothing like working up a sweat cutting down 40 foot trees for a future building.  While there, we talked about building houses (we’ve built a log cabin together) and I heard the above, highlighted lyrics on the radio.

Yes, whatever happened to homes?  A visit to the forums prior to my computer withdrawal showed that some are really not interested in the house being built as a home but more as a house.  Something to make a large profit from in a short period of time.  Flipping houses is one of those trades you can learn from some guy on the lecture circuit.

How does that affect those of us who want a home?   Well, it can certainly raise the price of homes, especially in a strong market.  I remember during one of those housing booms even the sales people were buying up homes and others were coming in and grabbing 2 at a time.  The average homeowner had no chance in that feeding frenzy and was likely to pay more than what they had budgeted for.    Of course the boom ended and some were caught with potentially high mortgages and just walked away.  For those homeowners who bought the inflated price, they saw houses on the street being sold for more than $30k less than what they paid.  Yes, house flippers can cost you.

Now, if you intend to buy one of those flipped houses and make a home of it, I’d make sure I hired a house inspector to give it a good going over.  The house flipper is more concerned about short-term profit and yes, they want the house to give a good showing but, will they really spend the time to ensure all the hidden things are looked after?  And, do they take care to follow the Tarion time limits?

Those who are sticking it out in Kanata Fairwinds, are they going to actually move in or are they hoping to flip the place with a good profit as Mattamy has said they will build at the cost that was agreed upon?  Mmmmm.   House building costs are going up so will Mattamy take some shortcuts to ensure they make a profit? 

Who knows??  But Mattamy’s track record in these situations, at least in my own case, is that they will cut corners.  (i.e. illegal (code)wiring).

All I can say is you should really consider a house inspector on a house being flipped.  Especially if you are looking for a home.

**Sour Suite Lyrics by The Guess Who

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6 Comments »

  1. Hi,

    I love your article on House or Home? What’s in your future?

    I especially like your point on Flipping houses as one of those trades you can learn from some guy on the lecture circuit.

    Looking forward to seeing more of your posts.

    Comment by Home Interior Decor — April 21, 2010 @ 12:06 am | Reply

  2. Your comment is much appreciated. Took a visit to your website ( http://www.imperialmeasures.com/ ) and found quite a selection of advice on homes, living, lifestyle, etc. Thanks for dropping by.

    Comment by LN — April 21, 2010 @ 10:01 am | Reply

  3. Nice article wonder if Real Estate companies & the Banks part of the problem as improving your property increases Market Value & increase Taxes causing a disincentive eh

    http://www.topix.com/forum/ca/halton-hills-on-georgetown/TG6CSBCRUB7ASV2NF

    Comment by Your Pal Al — April 21, 2010 @ 10:25 am | Reply

  4. Al.. the banks were certainly the problem in the recent sub-prime mortgage outrage. I can see those with the money manipulating for personal profit at the expense of us who just wanted a home. The Hedge funds are notorious for making the market move to their advantage. Hard for anyone in the middle or lower class to really make any money or get ahead anymore… Thanks for the comment.

    Comment by LN — April 21, 2010 @ 2:18 pm | Reply

  5. There are many clever people, who like to use very educated words that can be very difficult to understand what is really behind them… Well, back to the reality, if you want a home, not just a place to stay overnight, you have to check carefully all details… and to be a lucky winner!
    Julie

    Comment by Julie — April 28, 2010 @ 5:04 pm | Reply

  6. Full story: The Toronto Star

    Mike Preston was everything his environmentally friendly customers wanted in a contractor.

    http://www.topix.net/forum/ca/toronto-on/TS504GOMEQ25ORNBD

    Comment by The shady side of the green building industry — May 15, 2010 @ 11:01 am | Reply


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