By: Luke Jones, Published on May 30, 2017 06:14 PM, Last Update on May 30, 2017 03:16 PM
A new survey conducted for insurance provider Allstate Insurance Company of Canada highlights a potential problem for Quebec residents looking to buy their first property. The results of the report show that around one in four Quebec homeowners say they have encountered problems with their homes after it has been purchased.
56% of respondents who said they found problems shortly after home purchase say the cost of repairs exceeded $1,500. 31% of the homeowners say they would do the home purchase process differently if they could go back.
Purchasing home insurance can help protect against such unfound issues, but Allstate points out that preventing these situations remains the best course. The company says homeowners should make sure the property is properly inspected before they purchase it. Customers should hunt for any issues, no matter how small they are.
Among issues worth checking for are damaged shingles, faulty wiring, pipe leakage, and other potential expenses.
The survey was carried out on behalf of Allstate by Leger. The company found that 58% of homeowners in Quebec says they will be renovating their home within the next year.
“Picking out a wallpaper pattern is much more fun than having to remove it after-the-fact, so taking a step back to see if there are risks brewing under the surface and taking care of those first may help avoid a lot of headache and heartache,” said Allstate Canada regional claims director André Parra.