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What to look out for when buying a home in a hot housing market

Guelph home sales continue to set records, month after month.

Guelph home sales continue to set records, month after month.

According to the Guelph & District Association of REALTORS®, the benchmark price for single-family homes jumped 31 per cent on a year-over-year basis in April 2021 compared to April 2020.

In a white-hot market fueled by low interest rates, it’s crucial to ensure the home you buy is worth the sale price.

The most important aspect to consider is your financing. How much will this house cost? Does it make more sense to make a smaller down payment to spend some money on home improvement? Brokers such as Certified Mortgage Brokers advise to put as much down payment as possible to qualify for better mortgage conditions, which means looking for a home in the best condition possible.

Here are the major problems to look out for when buying your home to avoid expensive repairs right after moving:

Roof and eavestroughs

Have there been any major damage repairs to the roof? Ask for a roof certificate and a roof inspection by a professional in addition to a regular house inspector.

A home inspector won’t fully inspect the full health of the roof and could miss crucial warning signs that could potentially cost you a lot of money — anywhere from $5,000 to $30,000. A roof inspection by a professional such as Trades by Jack can give a sense of what kind of condition the roof is in.

Don’t overlook your eavestroughs — damage from flooding caused by eaves that don’t function properly could set you back in the thousands.


Make sure to look out for signs of a leaky basement, including odour, mould, or cracking on the floor or walls. Basement waterproofing can be an expensive renovation to need to undertake. It's always a great idea to get insight from a professional before making any decision. Direct Waterproofing is an award-winning basement waterproofing company that can help with all your waterproofing needs.

HVAC systems

Furnace and air conditioning repairs could be an expensive and unpleasant surprise. It’s recommended you thoroughly check the home to ascertain the state of your HVAC system. AirMakers has a team of experts who specialize in air conditioning repair who can assess your home.

Kitchen and bathrooms

These rooms should be inspected to ensure there is adequate ventilation. Are there visible leaks or potential mould problems? Does the layout work for you? If you’re thinking of taking on a kitchen or bathroom renovation, the pros at Easy Renovation can make it simple for you.

Make sure to look at all these elements carefully when deciding how much to pay for your home.

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