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As with nearly all home purchases, it is a good idea to make the offer for your fixerâ€" upper contingent upon a proâ€" fessional home inspection. If there‘s reason to suspect founâ€" dation, soil, termite, leadâ€" paint or asbestos problems, it‘s wise to bring in specialists in those areas as well. Finding a good "handyman special", as real estate agents are fond of calling such propâ€" erties, is not out of the quesâ€" tion, and it can be a good strategy for young buyers who have more energy than money. But be sure the house gets a thorough analysis before you get locked into its purchase. "I see a lot of people drawn to houses that need a whole lot more work than they imagine. Too often, they‘re in for a rude awakenâ€" ing" said a local Burlington builder. But it wasn‘t long before they discovered that their supâ€" posed diammond in the rough was actually a plain, rough rock. Contrary to popular belief, realâ€"estate experts cauâ€" tion, a true bargain fixerâ€" upper is a rare phenomenon. In this case, the log beams on the first floor were rotten â€" a massive ordeal to replace. The electrical system was completely outdated. Water seeped into the basement, and the old furnace was obsolete. All told, repairs could cost more than $100,000. Near Burlington, a young couple happened upon a 165â€" year old farmhouse for sale four years ago. Priced at $144,000, the old log house seemed like a steal, so the elated couple quickly bought the place. However, more often than not, that TLC turns into the nightmare from hell. ; hopping for your first home can be a chalâ€" * lenge. Many young oouples feel a new home may be out of their price range. They are generally wrong in their opinion about new homes being beyond their reach. But many make an even worse mistake by buying a "fixerâ€"upper". In other words, an older home, usually neglected over an extended period of time and in dire need of some TLC. "Fixer upper‘" may be a downer i the condition Ihat. in the af n nmn mswmmmmmnmmmmawm Mpommo!moammng space erroneous item, ther with a reasonable allowance be for, but mmm‘pmmw h ubgmmmmmpmm.m i mumm rize and In the event of a ty orlervmsa!'lemmgpnea Publisher _ ROBERT GLASBEY Advertising Director STEPHANIE HENDERSON Features Editor JEAN WRIGLEY Sales Coâ€"ordinator The right buyer for a homeâ€"renovation project must You can get awfully tired of eating plaster dust after a couple of weeks. Regardless of the extent of work required, you are not a prime candidate to buy a fixerâ€"upper unless you bear up well during home renovation. Look for telltale signs such as sloping floors, cracked plaster and doors and winâ€" dows that no longer close squarely into their openings. Buckled or cracked basement walls may be symptoms of a bad foundation. Avoid homes with any signs of bad soil or foundation problems. The key to buying the right fixerâ€"upper is ruling out propâ€" erties with potentially serious problems. If someone is willing to look past the cosmetics and the heart of the house is sound, they‘ll have a good buy. All the house may need is the tender loving care to put the polish back in the diaâ€" Of course, not every older home in the fixerâ€"upper cateâ€" gory has severe, latent defects. It‘s possible to find a real diamond in the rough whose only problems are on the surface. When you pull out the old sink, you discover bad plumbâ€" ing. Then you pull out the bad plumbing, and you discover floor boards or wall studs that are rotten. Pretty soon, the project you thought you could do in a weekend for $200 turns out to take a month and $2,000. Ontario home starts only inched down to 48,600 from 48,700 units SAAR. Construction of singleâ€"detached units posted moderate gains in urban centres, driven by healthy advances in sales and prices for existing homes and good yourself for unforeseen probâ€" _ employment growth so far this year. The offset came from lems. Old homes can be laden with costly defects. Many experts call it the "mushroom factor": when the attempt to solve one problem leads rapidly to the discovery of others. Choosing the right property 467 Speers Road Oakville, Ontario 845â€"3824 Fax. 845â€"5516 Published by: Starts of singleâ€"detached dwellings recorded a 9.4 per cent decline to 93,500 units SAAR, following a strong second quarter. Multiple starts fell six per cent to 59,700 units SAAR, their lowest level in three years. "Activity fell mainly in Quebec and the Atlantic region, which also had posted high second quarter results. In other regions, new construction changed only marginalâ€" ly as stronger job creation has cushioned the blow from higher mortgage costs," explained Proulx. "As we expected, third quarter results show the delayed response of new construction to the spring run up in mortgage interest rates. However, new construction is expected to stabilize in coming months since mortgage rates have retreated partially from their recent peaks. Job creation and consumer confidence remain favorable. And sales of existing homes appear to have stabilized too," said Gilles Proulx, Chief Economist at CMHC‘s Market Analysis. units during the third quarter, compared with a level of 166,700 units during the third quarter, compared with a level of 166,700 units in the previous three months, reported Canada Mortgage and Housing Corporation. Results are seasonally adjusted at an annual rate (SAAR.) Nauonal housing starts fell 8.1 per cent to 153,200 Starts affected by higher rates Â¥ _ NEW BUNGALOW SERIES Buyer Participation Program (we work with you to customize your home) BEVERLY GOLF COUNTRY CLUB OPTION WINTER/SPRING ‘95 POSSESSION ©3.75% DUNDAS ST. (AWY. 5) I PARKSIDE DR. ON _: MODELS Rated "Excellence" for after sales service by the Ontario New Home Warranty Program UE Upgraded luxury features Check our: DESIGNS Hamilton Halton 1 Home Builders For Windemere (Waterdown) Please call: Castellano Real Estate Inc. Home construction in the Atlantic region fell to 10.900 units from a strong level of 12,800 units SAAR in the secâ€" ond quarter. Only Nova Scotia reported higher construcâ€" tion activity mainly for rental apartments. Activity fell sigâ€" nificantly in New Brunswick, Newfoundland and Price Edward Island following strong second quarter numbers. In the Prairie region, starts inched down to 23,500 units from 23,600 units SAAR, as weaker construction in Alberta canceled some gains in Saskatchewan and Manitoba. The Alberta new market reflects resale market trends featuring lower sales and flat prices. By contrast, construction rose in Manitoba and Saskatchewan. British Columbia starts advanced slightly to 38.500 units from 37,200 units SAAR, as construction of singleâ€" detached units held virtually steady. The increase was due to a recovery in condominium starts. Construction of affordable semiâ€"detached dwellings, a popular product in a costly market, has also been increased recently. The province‘s solid economic performance provides a healthy base to the strong housing market. Quebec starts fell 28 per cent to 31,700 units in the third quarter, from a strong 44,400 units SAAR in the secâ€" ond quarter. The decline was widespread, hurting both single and multiple units. Following a strong performance in the last 12â€"18 months, job creation has begun to slow down recently. As well, firstâ€"time home buyers in the province who remain key players on the market, have been sensitive to the rise in mortgage rates. a drop in mulnple units, especially rental apartmems, and lower activity in smaller centres. (905) 522â€"2269 (905) 689â€"4828 Office