CBC Marketplace 09/01/09

Millstone · #1 Posted **Jan 10, 2009, 4:17 AM**

Here's the link for the episode featuring Mike Holmes that aired tonight:
http://www.cbc.ca/marketplace/2009/new_home_nightmares/main.html

Strike another one for why I won't buy a new home.

MsMe · #2 Posted **Jan 10, 2009, 6:38 AM**

I have to agree with Mike saying new houses are absolute crap. Mike is trying to get the codes changed, but that isn't an easy thing to do. What a lousy system we have isn't it. And it was just in the newspaper the other day about houses are still being built without permits.

There is a brand new house on my street but not sure who the builder was. Anyhow, there is a cap on this area and the house is WAY over the cap. So here is a house worth $255,000 sitting empty. What a waste of money. It will be interesting to see if things go wrong while it's still empty. If that's the case, then it will never be sold. As they probably won't fix it as usual.

FairHamilton · #3 Posted **Jan 10, 2009, 3:17 PM**

Quote:

Originally Posted by MsMe

There is a brand new house on my street but not sure who the builder was. Anyhow, there is a cap on this area and the house is WAY over the cap. So here is a house worth $255,000 sitting empty. What a waste of money. It will be interesting to see if things go wrong while it's still empty. If that's the case, then it will never be sold. As they probably won't fix it as usual.

I would be diligent about reporting any property standard violations to the city as they occur, i.e. lack of snow removal, weed and lawn maintenance, garbage, vandalism/graffiti, etc.

Don't let the property become more of a problem than it already is.

MsMe · #4 Posted **Mar 4, 2009, 3:00 AM**

It looks like Mike Holmes will be changing his show. Instead of doing the repairs like he was. Now he will be doing inspections like he did on that video posted here in this thread. But so far only catering to the Kitchener Waterloo and vicinity areas.

Here is the link for the inspections.

http://www.holmesonhomes.com/makeitright/Mike_Holmes_Inspections/index.php

Duckyboy · #5 Posted **Mar 4, 2009, 6:56 PM**

Quote:

Originally Posted by MsMe

It looks like Mike Holmes will be changing his show. Instead of doing the repairs like he was. Now he will be doing inspections like he did on that video posted here in this thread. But so far only catering to the Kitchener Waterloo and vicinity areas.

Here is the link for the inspections.

http://www.holmesonhomes.com/makeitright/Mike_Holmes_Inspections/index.php

The inspections have nice perks attached to them, which a lot of companies don't include (video sent via email, CD-ROM version mailed out, infra-red), but are monstrously expensive; almost double the normal rate.

My house would cost, from Mike Holmes Inspections, $1965 for the ESSENTIAL Home Inspection (low end) and $3449 for the EXTENDED Inspection (high end). Just for a lil infra-red?!?!

Wow... I paid $325 for my house from my regular guy; Ron @Brittannia Home Inspections ( http://www.britanniahomeinspections.ca/ ). I got a smoking deal, as I've used him for a few house purchases last year, but still. Check out his fee: http://www.britanniahomeinspections.ca/fees.php

By listing price, rather than by square footage.

I'm still in awe from Holmes' fees.

MsMe · #6 Posted **Mar 4, 2009, 11:05 PM**

His prices weren't cheap. In my case if I needed one, my price would probably be much less then the normal ones since my house is so small. I only have one bedroom with a full basement, and has 625 sq ft. on the main level.

Although, Mike is good and doesn't beat around the bush.

Dundasguy · #7 Posted **Mar 5, 2009, 2:43 AM**

Quote:

Originally Posted by MsMe

I have to agree with Mike saying new houses are absolute crap. Mike is trying to get the codes changed, but that isn't an easy thing to do. What a lousy system we have isn't it. And it was just in the newspaper the other day about houses are still being built without permits.

There is a brand new house on my street but not sure who the builder was. Anyhow, there is a cap on this area and the house is WAY over the cap. So here is a house worth $255,000 sitting empty. What a waste of money. It will be interesting to see if things go wrong while it's still empty. If that's the case, then it will never be sold. As they probably won't fix it as usual.

If houses were built to Mike Homes' standards, nobody would be able to afford one to begin with. Homebuilding is extremely labour intensive (a fixed cost). I remember seeing a single fam house he built to "ideal" standards and I think the costs worked out to about $450 per square foot. This would make an 1800sf home cost over $800,000. If houses aren't affordable, there are no buyers and no market.

MsMe · #8 Posted **Mar 5, 2009, 3:07 AM**

Quote:

Originally Posted by Dundasguy

If houses were built to Mike Homes' standards, nobody would be able to afford one to begin with. Homebuilding is extremely labour intensive (a fixed cost). I remember seeing a single fam house he built to "ideal" standards and I think the costs worked out to about $450 per square foot. This would make an 1800sf home cost over $800,000. If houses aren't affordable, there are no buyers and no market.

I wouldn't doubt that at all. As I said, he doesn't come cheap in any way or form.

adam · #9 Posted **Mar 5, 2009, 3:51 AM**

The fact remains: too many new houses have been built in the last 5-10 years that will need serious structural work before the mortgage is paid off.

MsMe · #10 Posted **Mar 5, 2009, 3:58 AM**

Quote:

Originally Posted by adam

The fact remains: too many new houses have been built in the last 5-10 years that will need serious structural work before the mortgage is paid off.

So true Adam.

Duckyboy · #11 Posted **Mar 5, 2009, 9:10 PM**

Very true; it's a bit of a Catch 22... save a little money now or save a lot of money in the future.

All the more reason to buy an older, house: structure AND style. Mine is 109 years old and I wouldn't live anywhere else.

Dundasguy · #12 Posted **Mar 6, 2009, 3:06 PM**

Quote:

Originally Posted by adam

The fact remains: too many new houses have been built in the last 5-10 years that will need serious structural work before the mortgage is paid off.

This is nonsense, please explain.

ryan_mcgreal · #13 Posted **Mar 6, 2009, 4:35 PM**

Quote:

Originally Posted by Dundasguy

This is nonsense, please explain.

Houses are officially built to last 20 years. Historically, many houses built during a housing bubble/mania don't even meet those minimum standards. However, most mortgage terms are 25-30 years.

It could turn out to be a good thing that we're building disposable houses. 20 years from now, suburbia may no longer be a viable option for many people.

MsMe · #14 Posted **Mar 6, 2009, 4:57 PM**

Never know what this global warming is going to be like years from now. Will we be doing same as Australia and going underground?

highwater · #15 Posted **Mar 6, 2009, 5:03 PM**

Quote:

Originally Posted by ryan_mcgreal

It could turn out to be a good thing that we're building disposable houses. 20 years from now, suburbia may no longer be a viable option for many people.

I've long thought the same thing about big box stores. They are so utilitarian in their construction, it's obvious that the developers realize that this model of retailing has a shelf life, and are not bothering to build them to last. It will be that much easier to take them down when they are no longer viable. Unfortunately, this makes them lousy candidates for adaptive reuse, so they'll end up occupying much needed landfill space.

Millstone · #16 Posted **Mar 6, 2009, 5:25 PM**

Quote:

Originally Posted by highwater

I've long thought the same thing about big box stores. They are so utilitarian in their construction, it's obvious that the developers realize that this model of retailing has a shelf life, and are not bothering to build them to last. It will be that much easier to take them down when they are no longer viable. Unfortunately, this makes them lousy candidates for adaptive reuse, so they'll end up occupying much needed landfill space.

Big box stores are srsly just big boxes with cheap shelving and berber and some promo material to make it look kind of acceptable. It's a cost-efficient way of running a business, and when you fold the company then you just gut the inside of the box and make it something else.

Dundasguy · #17 Posted **Mar 6, 2009, 6:29 PM**

Quote:

Originally Posted by ryan_mcgreal

Houses are officially built to last 20 years. Historically, many houses built during a housing bubble/mania don't even meet those minimum standards. However, most mortgage terms are 25-30 years.

It could turn out to be a good thing that we're building disposable houses. 20 years from now, suburbia may no longer be a viable option for many people.

Houses are not built to last 20 years. Homes are like any other real estate asset, they require regular capital expenditure to maintain.

thisisdan · #18 Posted **Mar 6, 2009, 7:01 PM**

My house was built to last 90 years and counting...

http://www.avonhamilton.com

Dundasguy · #19 Posted **Mar 6, 2009, 7:38 PM**

You live with the Avon Lady?

markk · #20 Posted **Mar 6, 2009, 9:08 PM**

Does anyone have any opinions on builders in the Hamilton/Ancaster/Dundas area?

I am curious to hear of people's experience with new houses.

All the builders you talk to around here have a pretty slick sales tactics, but I'd like to hear some true accounts. Alternatively, does anyone know a good source where local builders are reviewed by buyers?