About Solar Rooftop Panels

When acquiring a property one of the things to consider these days is if the house has solar panels or if the house is able to have solar panels installed. This can actually be a financial advantage and can even help to potentially reduce the payments that you need to make on your mortgage.

Before I get started on this I would like to mention that each city, state and country has different rules and regulations regarding power consumption, solar panels and potentially selling the power back to the grid. However that being said, look into your local laws and get yourself educated as there even some financial incentives in such countries and Australia for the installation of solar panels.  There are also options to lease solar panels in some areas.

If the house already has solar panels?

If the property you intend to purchase already has solar panels you will want as much information as you can regarding their condition and their output. Find out from the owner how old they are and if there is any warranty left on them. I would highly recommend getting an expert such as Roof Restoration South Adelaide to inspect the entire roof as well as the solar panels and give you a written report on the condition with an estimate of the price of repairs if at all required. I would also get a copy of all the previous owners power bill records so that you know how much they are saving you in electricity bill payments. You should also keep in mind that over time most panels do become less efficient.

If the house does not already have panels.

There are many things to consider when looking at solar panels, these include if your roof is in good enough condition for installation, if you get enough sun and how many you need to acquire and install. This will all effect exactly how much energy your property and solar panels will produce. As there is a wide range of options I would recommend obtaining multiple quotes on the cost of the installation and panels.

Solar panels can be a financially helpful and environmentally conscious way to reduce your bills and take some pressure off of your mortgage repayments. This information is of general interest and does not take into account your personal circumstances.

Purchasing Your Home – Pre-Purchase Roof Inspections

Roof Restoration

If you’re in the property market and looking around for a home to buy, then this article is for you. In this article, we discuss the importance of having the roof inspected before purchasing a property.

When things go wrong when buying a home, things can get very expensive very quickly and the emotional stress and strain caused to you and your family can be very unhealthy. Consequently, carrying out your due diligence prior to purchasing a property can save you tonnes of heartache, misery and potentially save you your life’s work.

Here’s where the importance of the roof comes in. If you’ve ever had to pay for a new roof, roof replacement, or a roof restoration then you will know how expensive this can be.

According to the team from Roof Restoration Penrith, many people fail to pay particular attention to the roof prior to purchasing. Instead, they leave the responsibility to the building inspector and rely on their judgement. Most building inspectors are reliable and thorough, however sometimes issues can slip through the cracks.

Buying a home is very serious business and a lot can go wrong. To minimise risk, ensure that your roof is inspected from both the top and the bottom. Often a building inspector may not get on the roof to inspect it. It’s also very possible they don’t get into the ceiling to inspect either.

The best insurance you can buy when it comes to your roof is to have the roof inspected by a reputable, qualified roofing company. These guys are roofing experts and will provide you with a detailed report regarding the condition of the roof.

For a small fee, it could be well worth the investment preventing you from getting into trouble with a very expensive roof repair. In addition, it could provide you with bargaining power if you wish to negotiate for a cheaper purchase price (of course, only if issues are found).

Something to keep in mind is that sometimes issues with the roof can go undetected to the untrained eye. What might look like a roof in perfect condition to you may have some serious issues visible to the qualified eye. If you look at the roof and see anything like missing tiles, cracked or dislodged tiles, flakey mortar (look at the ridge capping), then it could be well in your interests to get a roof inspection carried out. If the house has a metal roof, then rusty sheets and/or loose sheets can be a good indication to get a roof inspected.

Many local roofing companies will be more than happy to assist you in a pre-purchase inspection. Don’t discount how important this can be to the success of your purchase.

What is a Home Loan

What is a Home Loan?

Owning a home can be one of the best things ever, and it is a good idea to know more about ways of owning a home and the best option for you. Lending institutions have provided an easy for people to own homes without having the cash to pay for it. One of the most common options people go with is taking a home loan. With a home loan, you will have a chance to own a home and pay for it over a period of time.

A home loan is a loan that financial institutions give and get the security over the property you are buying using the loan. The loan will be 25 to 30 years, and you need to make regular payments every month or fortnight. The loan will be paid over the contracted term. The security of the loan is the property, and this means the lender can sell the property to settle the debt if you are not able to pay the loan. Many people in the country are able to own homes through loans because of the high property prices.

There are different types of home loans. They can be classified by purpose, or the type of interest rate. The two main types of home loans using interest type are fixed rate home loans and variable rate home loans, but there are many other types.

The variable rate home loan means that the interest rate will fall and rise over the term of the loan. This can be as a result of the change in official cash rate or decision by the lender. This type of home loan will offer flexibility. You must meet the monthly requirement, but you have the chance to pay more if you want to. You will not be charged with a break fee because there is no fixed term for the break, and this means having the freedom to sell the house without paying extra fees and charges, which usually applies to fixed rate home loans. The downside is the fact that the rate can rise anytime, and can be bad if you are on a tight budget.

Fixed rate home loan is where the interest rate is fixed for a given amount of time, with 1,2,3,4 or 5 years being the most common. This type of loan comes with certainty because you know the repayments you are going to make. If you decide to sell before the end of the fixed term, you end up being charges a “break fee”.