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25% of Quebecers ran into issues within 5 years of purchasing property: report

Montreal – A quarter of Quebec homeowners said they experienced considerable issues within the first five years of purchasing their home, including water issues, according to a new survey by Léger, conducted on behalf of Allstate Insurance Company of Canada.

Of that 25 per cent seven per cent faced damages between $1,500 and $5,000 and five per cent ran into damages exceeding $10,000 in repairs, the company said in a news release.

Homebuyers may be overlooking critical checklist items to consider before making an offer, and overlooking critical fixes that could help avoid costly issues down the road, the report suggests. What’s more, homebuyers may be misinformed when it comes to what to look for and ask about while shopping for a new property.

In Quebec, 40 per cent of homeowners surveyed say they would go about things differently if they could redo their home-buying experience. Among them, 18 per cent would hire a building inspector and 17 per cent would be more cautious in looking for potential damages or risk factors.

Before buying their property, nearly half of Quebec homeowners looked for information or inquired on their own, about the risks of sewer backup or water infiltration.

Poll findings also suggest property seekers could be doing more research and background checks prior to purchase:

Only a third (35 per cent) verified if the property is located in a flood zone, near a large body of freshwater or a former swampy ground

A third inquired about previous damage or insurance claims on their property as a result of flooding or fire.

A quarter of homeowners inquired if there had ever been any complaints, class actions or lawsuits against the contractor who built their property.

Twenty per cent of homeowners researched how their property could be impacted by urban development around it.

Before committing to a new home or project, homebuyers and owners are encouraged to do their research and work with an expert to complete a home inspection or assessment prior to purchase, maintenance or renovations.

According to the Allstate Insurance Safe Homeowners Study, which analyzed Allstate household incident claims data from 2017, the most frequent and costly home insurance claim in Quebec are due to water damage, followed by damage caused by wind or hail, with fire-related claims landing in third place.

Water damage now accounts for the most frequent and costly home insurance claims in Quebec. Water claims due to burst pipes are the most frequent according to Allstate data, followed by toilet and shower leaks. Other sources of water damage come from washing machine leak and hot water tank leak. The main impact of wind and hail related damage (nearly half of the claims) is water infiltration through the roof, followed by falling shingles or siding.

Allstate has published a guide to help new homeowners.