We undersell the cost of getting into the housing market if all we look at are high prices in cities across the country.
There’s the cost of buying a home today, and then there’s the financial burden of adapting it to climate change in the years ahead. Like no previous generation, today’s first-time buyers will have to juggle current and future housing expenses.
A thought for home buyers on managing the load: Buy a fixer-upper. You’ll pay less for the house, and be in a good position to make state-of-the-art improvements over the years to reduce your carbon footprint and deal with climate change.
The fixer-upper idea comes from Scott Meyer of Ottawa’s EnviroCentre, a non-profit organization that consults on sustainability issues and performs home energy audits. I started our conversation by asking about features that home buyers should seek out and avoid when viewing properties.
A drafty, unfinished basement seems like something to avoid, but Mr. Meyer spotted an upside. A bare concrete cellar may bring down the price of a house compared with a similar property with a fully decked out basement, and you have a chance to do a proper job of insulating it.
“You’ll have a comfortable space, and you’ll really drop the carbon footprint of your house,” Mr. Meyer said.
A basement can account for 30 per cent or more of heat loss in a home, he said. But in his experience, basement renos often don’t do a good enough job with insulation. For example, some renovations insulate only half of a basement area, while others skimp on the amount of insulation.
Read the full article at the Globe and Mail