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7 Ways to Make Money Investing in Real Estate

Real estate is one of the most common investments. However, it is not easy to manage in that world, especially if you do not have a good knowledge of the market.

 

Real estate is an investment alternative that consists of buying a property such as a house, apartment, commercial premises or land, and then selling or renting it.

 

There are many other ways to earn money by investing in real estate:

  • Fix and resell,
  • long-term rentals,
  • vacation rentals,
  • short-term rentals,
  • long-term investments,
  • private loans with housing guarantee,
  • wholesale,
  • your personal residence

 

All of these can all be considered ways of invest in real estate.

 

A large real estate investment offers a great return of money without much effort. Each way of investing in the real estate sector has a different level of risk, profitability and time commitment.

 

Some investments in real estate are more a full-time job than an investment, as is fixing and reselling, while some investments like have almost no work. Let’s look at the best ways to invest in real estate in no particular order, with the goal of making money.

 

Make money with long-term rental properties

Renting long-term properties is a way of investing in real estate. You can take a lot of cash in advance, but the returns are incredible if you buy well and you are patient. The return on investment can be higher than 20% if the tax benefits and salary equality are taken into account.

 

When you invest in real estate by renting for the long term, you should focus on the cash flow. The best way to obtain a large amount of cash flow is to buy properties below the market value, make repairs to increase the value and choose homes that provide high profitability in relation to the purchase price. It is not easy to find properties like that; but you have to look for them, because they are in the market.

 

Better focus on single-family rentals, because they give better results than multifamily rentals. However, in different areas of the country, multifamily properties may offer better returns. Part of the reasons why you can get better returns in single-family homes is that there are more of them. With more volume there is a better opportunity to find a much better business.

 

There is another way to invest in real estate with long-term rental; commercial premises. It is a type of investment that generates high cash flows and hardly give management work. On the other hand, commercial rental terms are usually much more extensive and it can take a long time to find a tenant.

 

There are many types of leases: some leases consist of the tenant paying everything, including repairs and maintenance. Other leases imply that the owner must pay for almost everything, including the conversion / remodeling of the property to the needs of the tenants.

 

Make money with reforming and reselling

“Reform and resell” is a great way to invest in real estate, but a lot of work is needed:

  • You have to find offers,
  • manage the contractors,
  • keep track of the accounts,
  • and get to sell the houses.

It also requires a lot of money for the down payment and repairs, although a hard currency may be an option to reduce the money needed.

 

We advise this type of investment for people / companies with a large range of industrialists, and the ability to manage and lead projects.

 

How to invest in real estate by making a ‘pass’

Making a ‘pass’ in real estate is when an investor buys a property under a booking or deposit contract. Immediately the house is sold to another investor without making any repairs and in some cases without having signed the purchase-sale of the property.

 

An investor can sell the property without buying it, buy it by getting the contract and then assign the contract to another investor. Some real estate investors are engaged in making ‘passes’ and making hundreds of thousands of dollars a month. The advantage of ‘passes’ is quick money, but it is extremely risky and fundamentally occurs in the bull market where prices increase month after month.

 

Make money with your personal residence

Your personal residence is another way to invest in the real estate sector. Some may not consider a personal residence as a way to invest in real estate, as it does not bring rent. We believe that there are definitely ways to make your personal residence a great investment.

 

It is also possible to buy a personal residence that can be converted into a profitable property. This is a great way to buy a rental property with little money. You can buy more than one property in this way and build a rental portfolio with small down payments.

 

Invest in real estate with long distance properties

Investors are beginning to invest in real estate by investing hundreds of kilometers away. It takes a lot of work to make the long-distance investment work. You need to choose a market, find a great real estate agent, find a great property manager and then find the right property or properties.

 

  1. Choose a place: It is smart to spend time getting to know people and exploring any area in which you want to invest.

 

  1. Find a great real estate agent: A good real estate agent is a key to any successful investor strategy. If you want to invest in real estate over long distance, you need an impressive agent. That agent will help you find deals, possibly inspect homes for you and schedule inspections. I always suggest that the investor become an agent himself if possible, but it is difficult to do this with a long-distance investment.

 

  1. Find a property manager: If you want to invest in long-distance rental properties, you need a property manager. A good property manager can mean the difference between a profitable rental and a disaster. A property manager will rent the house, will manage the expenses, find contractors and take care of the house for you.

 

  1. Find a great contractor: It can be difficult to find a good contractor in your local area, and it is even more difficult over long distances. This is where you need a great real estate agent and the property manager to help you find a good contractor. The best way to find a contractor is by references. You need to have people you can trust in the area you are investing to refer contractors.

 

Make money investing in vacation rentals

Buy a house in an excellent tourist location, get a great property manager to rent it for you and charge the rent. The difficult part of a vacation rental is the very cyclical market. The high season can bring a lot of money, while the low season can bring almost nothing, because the demand decreases.

 

Cash flow on vacation rentals may look better at first, but management fees, expenses and vacancies will almost always be much higher in a vacation rental, than in a long-term rental.

 

Conclusion

There are many ways to earn money by investing in real estate.

 

The long-term rental is a good choice, because it continues to provide cash flow month after month, year after year.

 

“Reform and resell” can provide great income, but you must maintain a high volume of offers and quickly transform to make a lot of money.

 

The vacation rentals, long – range investment can also be great investments if you do your research, take your time and shop well.

 

This article was contributed by Zoom Property

6 Home Security Gadgets to Protect You and Your Property

What does it take to safeguard your home nowadays? A guard dog? Maybe! A strong fence? It’s worth a shot! An alarm system? Definitely! These and more are all good features to have in and around your home so that it’ll be safe from intruders. But you have to understand that some criminals have become smarter over the years. No one is simply going to break in your house anymore hoping to not get caught. Even the simplest of intruders expect houses to have state-of-the-art home security systems in place. And you should. But which ones are the best to go for?

 

To beat intruders at their own game, you have to be one step ahead of them. These 6 home security gadgets can ensure that whatever happens to your home, you, your family, and your property will remain protected and safe. Criminals will have nearly an impossible time attempting to stay undetected when you have these set up in your home.

 

August Smart Home Access System

 

Protecting your home and property is primarily about who you give access. If people are suddenly on your front door and you don’t know who they are and why they’re there, that’s more or less a sign of danger. Fortunately, the August Smart Home Access System gives you ample opportunity to limit people’s access to your home when you’re not there. This highly advanced home-locking system, complete with security cameras and passcodes, is an interactive gadget that lets you specify the people allowed to go into your home. You can even give specific friends and family their own passcodes, ensuring that only they can go inside your home when you’re not there.

 

Skybell HD WiFi Video Doorbell

 

An intruder isn’t always a stranger to you. Thieves, robbers, and other sorts of criminals looking to invade your privacy cause havoc into your own home might be those you know and you’re just unsuspecting of their true motive. But once you get a hunch that someone in your circle shouldn’t be invited to your home, you can easily block them off with the help of Skybell’s HD WiFi Video Doorbell. Wherever you may be, once a person rings your doorbell, this nifty home security gadget will immediately analyze him/her, video record their presence near your home, and you get the power whether to let him/her in or not.

 

Canary

 

The Canary Home Security System makes use of all the senses—sight, sound, and temperature. Oftentimes, it’s not enough that you see or hear something strange happening in your home. A truly masterminded intruder is probably expert enough in the craft that he/she can hide, stay silent, and remain undetected as he/she invades your privacy. This particular gadget, however, can sense a person’s presence with the temperature. Since most people have their own body heat, it can detect an unseen and unheard presence in the room, possibly one that shouldn’t be there when you’re not home. Additionally, it also has your standard camera and audio-recording features that you can look and hear into wherever you may be.

 

Nest Protect Fire and Carbon Monoxide detector

 

Sometimes, the danger isn’t from an outside force, but rather from the inside. Possibly an incident of your own doing. This particularly relates to house fires, which can be incredibly dangerous but are also avoidable. Nest’s Protect Fire and Carbon Monoxide detector are some of many home security gadgets out there that can help you do that. One of the best parts about this detector is that you can connect it to your phone through an app. One whiff of smoke and you’ll be instantly notified of something wrong. And wherever you may be at the time, you’ll have more time to signal your neighbors and the right authorities to take out the fire.

 

Kuna Light Fixture

 

It can’t be stressed enough that criminals nowadays have gotten a lot smarter. And if you want to protect your home, you have to be smarter than them. A good way to do this is to go for home security gadgets that don’t look like what they are. When your system is camouflaged and doesn’t look like your ordinary security camera, alarm, and so on, it’ll be more difficult for intruders to try to avoid them. One such gadget is the Kuna Light Fixture. What might look like your ordinary porch light is actually a hidden security camera, audio recorder, and even a speaker system that lets you communicate with the person outside.

 

LG Smart Security Solution

 

The LG Smart Security Solution is an all-in-one of sorts. Most, if not all of the safeguarding features that some of the other gadgets contain are also in this sleek and compact security system. It has an HD-security camera that you can easily hide and camouflage, a motion-tracker to detect any presence not caught on camera, an audio recorder to let you listen in on what’s happening in your house when you’re not there, and many more. It’s easy to set up and you can connect it to your phone, allowing you to look over your property and family even when you’re not there to keep them safe yourself.

 

Sometimes, all it takes is a little modern technology to ensure that you, your family and your property are very much secure in your own home. These technologically advanced gadgets are the ones that you should go for the next time you need to upgrade your home security system to something a little more sophisticated.

 

This article was provided to us by our friends at OHMTECH

Your home inspection list of 8 missteps to avoid

Once your offer has been accepted, the next step is getting through your inspections. As the buyer, you’ll want to make sure you’re prepared & know what to expect — and we’re here to help with that.

We’ve compiled a list of the eight biggest home inspection missteps that cost buyers money. Read them over to make sure you go into this process with your best foot forward:

1. Skipping the inspection entirely

You’ve probably heard that waving your right to inspections is a powerful negotiating tool to getting your offer accepted. While this is true, it’s also a risk. When you skip inspections, you’re essentially agreeing to buy the property, regardless of any damage that may be present. You’re also agreeing to take financial responsibility for the necessary repairs.

In contrast, if you elect to have a home inspection done, you’ll have the opportunity to walk away from the deal, if the damage is too extensive for you to handle.

You’ll need to weigh the pros and cons to decide whether not the extra bargaining power is worth it.

Ask yourself: Is this your dream home? Will you be devastated if it goes to someone else? Are you financially equipped to handle potentially-costly, unexpected repairs? Would you feel more comfortable looking at another home where electing to perform a home inspection is not a deal-breaker?

2. Hiring someone uncertified

As the buyer, you’re responsible for hiring the inspector of your choice. However, that doesn’t mean that you can bring in just anyone. While each state has its own specific requirements, most insist that in order for an inspection to be considered valid, the inspector must be properly licensed, certified, and up-to-date on their educational requirements.

You should look into your state’s specific regulations to make sure that any inspector you hire will make the cut, but in general, it’s a good idea to hire someone certified by one of the three, main associations. They are the American Society of Home Inspectors (ASHI) , the National Association of Home Inspectors (NAHI) and the International Association of Certified Home Inspectors (InterNACHI).

3. Neglecting to read reviews first

That said, being properly certified isn’t the only quality that you should look for in a home inspector.

Just as you would with any other contractor, you should do a little research to get a sense of their work history before hiring the person that you feel is the best fit. Reading reviews is a great way to know what you’re getting into.

Ideally, you’ll want to hire someone who has quite a few positive reviews to choose from. In particular keep an eye out for the following: Was the inspector on time? Was he or she easy to work with? Were the buyers able to understand the inspection report without too much difficulty? Were any mistakes discovered after-the-fact?

4. Having unrealistic expectations

The term ‘home inspection’ can be a bit vague, so it’s not all that surprising that many buyers aren’t sure what to expect. It’s important to know that this inspection only covers certain interior elements of the home – things like the electrical and plumbing, heating and cooling systems, and the condition of windows.

However, exterior elements like the roof, the sewage system, and any other exterior structures on the property are not covered. While you are, of course, welcome to have any of these other factors looked at, you’ll need to elect additional inspections in order to do so.

While putting your offer together, you should ask the agent you’re working with if any additional inspections are appropriate.

We’ve compiled a full list of home inspections we recommend you get right here.

5. Not showing up for the inspection

While the inspection report will give you a sense of the scope of the repairs a home needs, it’s not the same as seeing it with your own eyes.

The best thing you can do, as the buyer, to ensure that you’re going into the sale with open eyes is to attend your inspections. The home inspector will be there to explain any problems to you and answer your questions, if needed.

Arrive on-time and accompany the inspector as he or she examines the property. You should finish with with a realistic picture of the severity of any damage and a firm idea of when you can expect to have a report in hand.

6. Skimming the inspection report

Sometimes inspection reports can get a little long and dense, so buyers will make the mistake of skimming it rather than reading the whole thing. Unfortunately, this can have unexpected consequences, especially if you should happen to miss a huge – or expensive – issue.

The reality is, the inspection report is your get-out-of-jail-free card. If a problem is discovered during the inspection that’s too big for you to handle, you can walk away from the deal and get your money back – as long as you cite the problem during negotiations. If you don’t mention it, but discover the problem later, there’s no going back. Make sure you know exactly what you’re getting into before your money is on the line.

7. Negotiating poorly

Most buyers wish that they could ask the sellers to fix all of the problems found on the inspection report. While that would be ideal, it’s also unrealistic. Negotiations are a give-and-take, after all, and it’s a much better idea to make sure that sellers feel compelled to fix the most important issues with their home, rather than letting them cherrypick the easiest ones from a long list.

When negotiating, we recommend that you focus on the two or three problems that are most important to you and chalk the rest up to the cost of homeownership.

Keep in mind that structural or mechanical issues are often big-ticket fixes that you’ll want the seller to handle. Smaller fixes that can be done by a handyman can often be taken care of at a later date and at little cost to you.

8. Forgetting to collect documentation

If your seller does agree to do some repairs, you’ll want to be sure to collect any documentation on the work that was done. Contractor invoices can give you reassurance that the repair was made by a qualified professional and will also give you someone to turn to in the event that there’s another problem down the road.

This article was provided by Jennifer Miller and Originally appeared on OpenListings.

 

Thank you,

Your Edmonton Home Inspections Team

10 Tips to Speed up Your Home Inspection

The home inspection comes with great responsibilities of examining the whole house with perfection. Numerous things are to be kept in mind to speed up the Home inspection.
Let’s talk about some vital tips to speed up your home inspection right now!

1. Sanitize the Environment

The first thing that a home inspector might consider after entering the house is “how clean is the inner environment.” So, make sure to set up all the stuff accordingly. This includes cleaning up the entrance, sanitizing the insides, and arrange the bits and pieces as it meant to be.

2. Cleanse the Pet’s Area

Cleaning the pets playing and sleeping area would be perfect to assist in speeding up the inspection. As it will give a great idea how hygienic is that particular area. If you have a pet house, then make sure the pet resides in while the inspection is going on. This is because the pets may not like the stranger in the house and hinder the inspection process as well.

3. Turn On the Electrical Appliances

Electrical appliances and wiring may be the foremost thing that a professional inspector concerns in the home inspection. So, verify that all the appliances and utilities are turned on. This includes HVAC, geysers, and blowers.

4. Replace “Not Working” Bulbs

Make sure the lightning is proper inside the house and no space is facing dark. If there are any “not working” light bulbs in the house, ensure to change it before the home inspection begins. This may lead to an electric problem and cause various inspecting issues as well.

5. Clean the HVACs

Clean and sanitized air filters can make the home inspection more straightforward. Replacing the dirty HVAC air filters with newer and cleaner ones might be the best choice.

6. Take Care of The Foundation

The sturdier foundation is the chief aspect that any home inspector keeps on priority. Taking care of the founding stones is as important as cleaning the house. Incests and termites find their way through the foundation of home first. If there is any stored stuff or aged woods, cleaning it before the inspection would assist greatly. Make sure to clean out the garbage and remains in the vicinity of foundation as well.

7. Unlock the Locks

Locked doors and chained basements may slow down the inspection procedure. A home inspector needs to access all the places related to the property. And, if there are several doors still locked, it may end up in consuming a lot of time. So, make sure to unlock all the areas before the inspection begins.

8. Repair Broken or Missing Material

The broken or missing material from the essential places can obstruct the inspection. For instance, broken windowpanes, duct coverings, doorknobs, gutter caps, and all. Ensure to repair or replace this vital stuff on time.

9. Get Rid of the Dampness

Moisture walls are the pure sign of weak and fragile walls. Getting rid of the dampness might take a long but it is imperative to the highest degree. So, take care of the wet walls before calling out the inspection.

10. Remove the Blocking

Clear out the entire place and make sure that entire property is easily visible. Remove the items that block the access to HVAC systems, electric panels, and all the appliances for better assessment.

The Final Words

That’s all! These were some of the key factors to consider while opting for a Full home inspection. So, keep these tips in mind to have the preeminent home inspection experience.

This article was contributed by David Jordan from Dickel Home Inspectors.

Different Ways Home Inspectors Use Home Inspection Software

The emergence of home inspection software gives home inspectors the ability to save time and present a professional, electronic report to their customers. The days of handing a client a report with scribbled, hand-written notes are over. Read below to see some of the ways home inspectors are taking advantage of home inspection software to present a better report.

Software Increases Efficiency

Home inspection software allows a home inspector to complete their inspection in the field while they are inspecting. Many home inspectors take advantage of this feature and choose to use a portable device in the field. These devices include PDA’s, smartphones, and tablets because of their convenience.

The small size of a PDA, smartphone, and even some tablets, allow an inspector to slip the device in a pocket or carry it on their belt when it’s not in use. This makes climbing in attics and on top of roofs less cumbersome. If they choose to add pictures into their report, they can insert the SD card from their camera into their PDA and add them directly into the report. If they are using home inspection software on a smartphone or tablet, they may have the option to use the same device to take pictures and then insert those directly into the report. When the inspection is finished they can print on-site with a wireless printer or they can go back to the office where they can put the final touches on the report and email it off to the client.

Laptops for Inspection Reports

Other home inspectors choose to use a device that is a little less convenient, but is easier on the eyes and provides a larger screen. These devices include laptops and netbooks. Typically when an inspector uses one of these devices for an inspection, they will set it up in one room of the house and then keep returning to insert their data and type up their notes as they inspect sections of the home. For example, they will set their laptop up on the kitchen counter with their inspection software open and ready. This process is less convenient than the one above, but almost gives the inspector a work station where they can fill out their report. When traveling to different rooms or different parts of the house, the inspector may choose to bring their laptop along to change locations or they can leave it in one place. When they are finished with their report they can either print on-site or go back to the office where they can finalize the report before sending it off.

Office Writeups

Some home inspectors prefer not to use home inspection software in the field, but still want to deliver an electronic report to their clients. These inspectors will use a variety of methods to gather their information in the field and then return to the office to insert that data into their inspection software. This method isn’t as efficient as the others, but is still a viable option for inspectors. Some inspectors will use pen and paper to take notes about the property while on-site. They then take those notes back to the office and use those to complete their inspection report.

Cameras and Dictaphones

Other inspectors prefer a more visual approach and will take a lot of pictures with their digital camera. When they get back to the office, they use those photos to put together their report. A third option inspectors will use in the field is a voice recorder. This allows them to make comments about the property and record their findings. Then, like with paper notes, they will go back to the office and use their data to create their report. Home inspectors will use one, or a combination of the above methods to gather their data and then use that to create their report back in the office with home inspection software.

Reasons Why Home Inspection Software Is Better Than Paper

Professional

One of the main areas where technology is making life easier for home inspectors is through the use of home inspection software. Software now allows home inspectors to toss the clipboard and get rid of the paper from their inspections and reporting. This allows an inspector to deliver a more professional report to their clients, and for some, eliminates the tedious process of writing the inspection on paper and then retyping everything back at the office.

Portable

Today software for conducting home inspections allows you to use a handheld, phone, tablet PC, or laptop in the field. This allows the inspector to collect all of the information in the field and eliminates the work that is often done back at the office. This saves home inspectors a great amount of time on each inspection and frees up time to focus on other aspects of the business such as marketing.

Easy to Use

With Home Inspection software loaded on a portable device, home inspectors can put together the entire report while they carry out the home inspection. Software makes it easy to use dropdowns to enter the condition of items, add notes, add pictures, and make recommendations to clients. With a wireless printer an inspector can print a report on-site and hand it directly to the client when finished with the inspection. They can also take the report back to the office, finish adding in photos and final comments, and then turn the report into a PDF. The PDF can easily be emailed to their client. This eliminates all the problems that the client has in trying to read messy handwriting.

Another advantage of using home inspection software is that it is easy to add photos directly into reports. This allows the client to see exactly what the inspector is referring to in their report. Software also gives the inspector the flexibility to customize the way their home inspection reports look. They can easily edit fonts, colors, and the overall look of the report. Inspectors can also customize the templates and forms they use to create new templates that match the way they inspect. Software has the capability of automatically creating summaries of items requiring attention. This makes it very easy for the client to have one place to reference to see all of the key inspection findings. For example, every item that is marked with a Marginal rating would show up in the Marginal Summary.

Everyone Should Use Software

Using home inspection software allows an inspector to stay organized without having to deal with all that paper. All inspections are saved on the computer and can easily be opened at any point in time. Home inspectors can also save a great deal of money over time by not needing to purchase paper forms. Oftentimes, carbon copy forms can cost the inspector anywhere from $8 – $25 a report and this quickly adds up. With software, they will no longer pay per inspection and it will pay for itself.

This article was written by Gerald Herrmann from Corpus Christi Home Inspections. 

Questions to ask your Home Inspector

So, we hear that you have found your perfect paradise after searching for almost a couple of months now. As you may already be excited to move in, isn’t it better to exercise some caution?

The last thing that you would want is your roof falling apart or the drains getting clogged right after signing the property papers. This is the reason why the I recommend home inspections as a necessary step before buying a new home.

The experts suggest the owners must get involved and ask as many questions possible, while scheduling the home inspection services.

If you have no clue about what are the different aspects that you should check or ask your home inspector, here’s a list to follow:

Credentials of your home inspector:

The most crucial thing that one must be aware of are the credentials of your home inspector, before undergoing the procedure of a home inspection. The inspector must always bring along their Home Inspector’s License with them, which is the valid proof of their licensing.  He/ she must be a registered member of a trusted association that guides the home inspection services, and checks on the inspectors testing and educational background. The initial questions include; how long have they been inspecting homes? Where did they undertake their training program? Are they working as a full-time home inspector or a part-time inspector?  How many homes do they inspect in a year?

What are the risks to be considered when buying a foreclosed home?

A foreclosed home usually puts the owner in hard times, inviting loads of financial troubles and the lack of enticement in maintaining a house. To avoid such future uncertainties, it is advisable to double-check the plumbing, leaking fixtures and all the older clay pipes are intact in order to clear the obstructions. The banks usually refuse to claim the damages associated with the foreclosed home, negotiating a lower price for such a home and stating that the property is sold “as it is.”

What are the problems to address when it comes to a furnace and A/C?

Best home inspection services check the house properly, point out and read the furnace sticker. They check the condition, the past records and estimate the duration in which the owners call for the services. If the system demands services in a very short duration, the experts suggest replacing it. The lifespan of water-heaters, furnaces and other systems determine the units, efficiency and the time- period within which one has to replace it. This information is available on the sticker of each unit.

Which threats invite home inspections?

There is the number of problems that raise flags for the house owners. One of which is associated with asbestos; ‘’Does the removing of asbestos immediately prevents harm?” ‘’Does leaving it untouched solves the problem?” are the questions that demand immediate answers. In addition, ask your home inspector if there is any evidence of a former oil tank on your house property. If there is one, check whether the oil is contaminating the soil and work to immediately remove it.

This problem of hidden- in- ground oil tanks demand huge expenses, hence it is always advisable to remove it.

How to fix this problem?

When your home inspector notes down the issue, the first question that you must ask are ways to tackle the problem and the expenses one has to incur to fix this. The home inspectors will guide you about the seriousness of the issues and the manner to patch them.

The real estate home inspections involve great expertise, time and money, thus never be afraid to ask about the severity of the issues found by the home inspectors and request them about any specialist referrals that might seem relevant.

It is always wise to clarify your doubts regarding home inspections. By asking the right questions and getting the answers you will know if the property is a good investment.

Get your home inspection done from the expert home inspectors before buying.

This article is from our guest Jessica Jordan from Property Inspect

Cheap Home Inspections?

Anything that costs you your peace of mind is not worth it! Buying a new home is always a big decision in one’s life. Before you budge in for a deal, wouldn’t you want to assure that everything is fine? That is why; a thorough inspection of the property is all that you need. This is where home inspection services come into the limelight.

Home inspection services would help you know the property in and out along with all the information that was hidden from the eye at first glance. As far as the cost of the house inspection is concerned, one needs to look at the bigger picture. Spending a bit today can help save big, tomorrow! How is that? Come, let’s explore why inspection cost is worth it.

Cheap Is Not Always Better

If a home inspection firm is offering you cheap services, they might be new to the business and not have much experience. As a result, they might end up missing important elements during the home inspection. When you’re about to invest a large sum of money, in the same way that you would want a knowledgeable financial advisor you would also want an expert home inspector.

That doesn’t mean that you should move ahead with inspection companies that would dig your pockets down. But before finalizing, do conduct thorough research about the company’s history and the corresponding track record and reviews.

It Is All About Perception

What would you prefer; a financial gaffe when you buy a wrong property or spending some more and getting a home properly inspected? If you would want to make the best property purchase of your life, going with the latter is the obvious choice.

The cost of a property inspections done today can help you save from committing a mistake that could cost you a fortune later. Finding a concern afterward is much worse than getting to know the ins and outs of a property beforehand.

Cheap Means Compromise

Generally, a house inspection consists of the physical inspection and a follow-up report. The report is a documentation of about 4-50 pages that embraces each and every detail of the property. From the property’s neighborhood to its maintenance costs; everything would be mentioned in the report.

When such perfection is what you seek for, spending a bit more should not be given a second thought. A valuable and an experienced home inspector would guide you right no matter what. They would not want you to invest in anything that is not worth it. Thus choosing the reliable ones should never be a thing of concern!

Liable To Increase The Maintenance Costs

Why would you go for anything that leads to penny pinching later when investment costs are even higher? If you finalize a inspection option without properly vetting the home inspector, there is a chance that it would be an inadequate analysis. So taking your time when choosing a home inspector could save you a lot of headaches.

There is no need to cry over the spilled milk, rather than hire a fool-proof inspection firm, even if the cost might be a bit price. Spending today could definitely lead to a peaceful tomorrow!

Wrapping Up

Now this doesn’t mean that all low priced inspection firms are lacking in quality. Low costs could be due to a number of factors. For example, it could be that this firm has lower operating costs and so can offer a lower price in return. A low price is also commonly used as a marketing tactic to attract customers. This is one of the tactics that is popular with new entrants to the market. Even though a new entrant might not have as much experience as a firm that has been operating for years, it is important to also note that all home inspectors have to meet a standard to obtain their licences. That being said, do conduct thorough research on that company especially if they do not have many reviews about them.

On the other hand, if a home inspection company is relatively higher priced, it probably means that they have a lot of business. From this you can assume that they do a good job and that is the reason for the amount of business they receive and the high price tag.

This article was contributed by Mark Ashley from Careful Home Inspections

Top Reasons To Market Your Home Inspection Business Online

I have been receiving emails from readers of Your Edmonton Home Inspections and one of the main questions I get from home inspectors is “how can I grow my business?” So I’m going to develop a small series to help explain different marketing approaches you can take and the pros and cons of each one.

But first let’s quickly go over the methods I’ve previously discussed as a quick refresher. If you are a regular reader of our blog, you’d know that we highly recommend online marketing. For good reason we think that online marketing is one of the best ways to spend your marketing dollars no matter what industry your in.

Online marketing provides a few key advantages over its offline counterparts. Notably, you can target highly specific audiences, gather data, test ads, measure your performance, and more all at a low cost.

Target your Audience

Unlike traditional advertising, online marketing provides a lot of flexibility and customization. You can apply a variety of different filters in your ads that will make sure you are targeting the right audience. This is very important so that you don’t end up wasting money sending your ads to people who aren’t likely to buy your services. Advertising methods like Adwords, Facebook Ads, and lead generation are great options. With Adwords and Facebook Ads there are endless ways to customize your audience profile. On top of the customization, Facebook also has pixel. You can try using pixel to find the people most similar to your existing clients and check your conversion.

On the other hand, if you use lead generation you’ll only have to pay once you actually receive a lead.  This is one of the most effective and affordable ways of getting new clients for any business.

Gather Data and Measure Performance

The beauty of advertising your home inspection business online, whether you’re in Edmonton or anywhere else, is that all the data is collected and can be analyzed. You can get a clear picture of how many people saw your ad, how many interacted with it. How many people left your page immediately, how many dropped off at each stage of the sales funnel and much more.

By analyzing all this data you are receiving you can look at ways to make improvements. By trying to optimize your ads by changing the text, colour, or picture you can see an increase in conversion or sales. Online marketing allows you to quickly test your different ads and use the best one. You can even use tools like Hotjar that would show you how people are interacting with your website. This might not be necessary for a home inspection business but if it helps increase your conversion then why not!

Online not for you?

Think that advertising online is too complicated for you? Do you prefer to stick with using the old flyer and branded car approach to advertising? Not technologically comfortable enough with online advertising? Not sure where to begin? Contact us at Your Edmonton Home Inspections and we’ll start by giving you a free unconditional consultation. Still have questions? Just shoot us an email or schedule a call and we’ll be happy to help.

Now that we had a quick refresher about online marketing and it’s benefits we can start getting into some more detailed methods. In the next little while we’ll be posting different tools that you can use to grow your business online. We’ll explain how to use them, what the costs are if any, and the advantages and disadvantages of each.

Thanks again for using Your Edmonton Home Inspections as a resource for your business.

We look forward to continue providing all of you with valuable guidance.

Your Edmonton Home Inspections Team

 

 

Top 5 Common Problems Found During Home Inspections

Purchasing a home is a serious business. Whether a newly built estate or an old one, home inspections are an important aspect of buying a real estate. Not all the buyers consider inspections before they finalize the loan, but without a home inspection this deal may end up with the property that has a host of pricey problems. And, a qualified home inspector is always your best bet for a thorough home evaluation.

When you are aware of the potential issues in advance, you have the opportunity to fix the problems before you buy the home.

In a new construction home inspection, the inspector will probably find problems like plumbing, electrical issues, or exterior of the house. It’s easy to get attached to a home, even before you buy it, but not knowing about potential issues is always worse than knowing.

Here are 5 common problems found during home inspections.


Lack of current building standards

Everyone wants to make a perfect home for their families. When you shift to a new house, there are probable chances that you want to make some changes in it according to your desire. These changes may include flooring, ceiling, new paint, or maybe you want to increase the number of outlets in every room or increase some outer areas.

The older homes don’t necessarily meet the current building codes and home inspectors may discover a number of minor or major problems during home inspections. These problems need to be fixed before putting up the house for sale. Therefore, it is necessary to hire a home inspector to keep a check on the changes you’re making and ensure that you are obeying the current standards.

Electrical wiring

The older the house is, the more likely there will be electrical problems. During home inspections, it is found that many electrical panels are unsafe to use. The consequences of the faulty electrical panel are quite severe, so, it is worth to check them before shifting.

In this modern era, consumers are big fans of electronics and this will increase the demand for electrical components. New homes may have loopholes in wiring that may not be able to keep up and could be dangerous for you and your family. A home inspection may discover such issues and call for fixes or an additional inspection by an electrician.

Foundation problems

Nobody wants to hear the word foundation issues during home inspections. It is the base of the house and if any foundation issue occurs, then it can be a big deal and can be very expensive too. Due to the weight of the house, most structures have hairline cracks somewhere in the ground. Many of the cracks are not a big deal, but others can show serious problems. If the home inspector has any doubt regarding the cracks that have occurred then you should consult a foundation engineer who will provide the solution for the respective problem.

Poor drainage

In some houses, the soil around the surroundings isn’t properly sloped away from the foundation. As a result, this leads to a water pool around the house and makes it flow back towards the house and ceases the drainage around the property.

Ideally, the water should run away from your home. But due to poor drainage, water starts accumulating around the foundation. This results in issues like leakage, moisture, mold, or rot.

Exterior maintenance

Along with the interiors of the house, the exterior is also important. So, home inspections should include the exterior of a home in addition to the interior. Due to home inspections, you can find any issues related to the roof or exterior walls of the home. These issues may include missing shingles, rotten pieces, or little to no ventilation. It is beneficial to have a proper check on it before shifting into the house. Proper or improper ventilation can greatly affect the lifespan of a home’s roof.

 

The Takeaway

A home inspection can uncover the potential issues with a home. There are many that are minor, but some of them are a big deal. And in both, it is always better to know and plan accordingly than not know and be surprised. That is why we suggest that you execute an independent home inspection for any future home purchase. These above-mentioned issues are very common home inspection findings. Different home inspectors could provide you with different reports according to their knowledge and experience.

So, make a wise decision while choosing a home inspector for your new home inspection.

Infinite Energy Solutions

Edmonton Mold Inspection

The Big Deal with Mold Inspection

Before you buy a home, getting a home inspection is one of the most important things you can do. The second most important thing is to get a mold inspection. Both inspections will ensure that the investment you make in your potential home is safe and sound. However, a home and mold inspections are quite different from each other. They require their own tools and different qualifications to perform them. Even with these differences, a lot of home inspection businesses in Edmonton offer mold inspections for residential and commercial properties. Now before getting a mold inspection, let’s look at what it is and why it’s needed in the first place.

 

What is a Mold Inspection?

Mold inspection is when a qualified mold inspector looks for any mold growth in a building. These qualified individuals will look for mold in the building, within walls, and any place that can cause severe damage to the building (such as wood decay).

What causes mold to grow?

The leading cause of mold growth is moisture. The moisture can come from water problems like a recurring leak or humidity. Whenever mold is found, it is most likely due to a moisture source. If the source of the moisture cannot be found, then the mold will keep coming back.

Should I include a mold inspection with my home inspection?

Getting a mold inspection is important because mold growth can affect your health and quality of life at home.

When the mold is present and continues to grow, it can cause a variety of allergic reactions. This includes a runny nose, sneezing, coughing, itchy eyes, headaches, watery eyes, itchy skins/rashes, dizziness/fatigue, nausea, sensitivity to indoors, difficulty concentrating. In addition to all these allergic reactions, mold produces a foul odor in the home.

These all create difficulties in living in your home. To prevent these difficulties from occurring, you need to hire a mold inspector.

Mold affects much more than just the home

Mold doesn’t only affect your home’s comfortability. Due to all the allergic reactions from the mold growth, you and your family could fall ill more often. In addition, the foul odor in the air could cause distractions and may result in issues like lower grades for your children. Also, you and your children might not get a full rest due to the discomfort of being home. All these issues are just the tip of the iceberg. Mold growth can affect a healthy family in so many ways.

The people that must be the most cautious of mold growth are infants, children, elderly, immune-comprised individuals, pregnant women, and people with respiratory problems. Each of those listed is vulnerable to the health effects of mold. Therefore, they must take extra precautions in ensuring that there is no mold growth in their living and working spaces.

Having a mold inspection is necessary for every homeowner. You can prevent a lot of headache for yourself and family. Anybody who lived with mold in their homes can attest that it is not a pleasant experience. So before buying a home, it is wise to hire a mold inspector. Make sure they inform you that there are no sources of moisture to allow mold growth in the home. As well as, ensuring that there is no pre-existing mold or moisture problem in the building.

By taking the time to have a mold inspection done on your home, you are protecting your home value and help ensure that it won’t be a tough sell. As well as ensuring a high quality of life for your family. 

Edmonton home inspector companies that offer mold inspection:

In Edmonton, there are many home inspectors that offer mold inspection. However, they do not include mold inspection as part of a home inspection since the tools and inspectors needed for a mold inspection are different from a normal home inspection. However, home inspectors can notify you if they find any mold, but that is as far as they go.

What to look for in a mold inspector

Make sure the potential mold inspector has IAC2 Mold certification. This ensures that are properly trained to detect mold in your home. In addition to this, try to find a mold inspector that is experienced and has positive google reviews. If you do your due diligence, then you will find a great mold inspector who will make the process simple for you.

Popular home inspectors that offer mold inspection in Edmonton:

Admirable Inspection Services. They offer $300 for the first mold inspection on residential properties and $450 for first mold inspection on commercial properties. Consult with them for more details for secondary mold inspections.

Other popular choices are Top Quality Inspections Inc. JBR Inspection, InspecUs, Trinuck properties Inc. All provide mold inspections in addition to home inspections. But you must call each of these home inspectors to get a rate or a quote.