Top 5 Things you NEED to know before Buying a Home in Port Hope

If you live in the area then you no doubt have heard all about the Port Hope Area Initiative. Commonly known as the clean up of low-level random in the Port Hope community. But if you're new or considering buying in the community, this might be something you're unfamiliar with. So here are my top 5 things you NEED to know before buying a home in Port Hope.  

1. Contrary to some urban legends, there are no known negative health effects of any kinds as result of living in the community of Port Hope. There have been countless studies and the town and the people are just as healthy as anywhere else. Some might argue we like to "keep it weird" but I can assure that's nothing to do with low-level radon.   

2. The most important thing you can do before looking at or buying a home in the community is contacting the Port Hope Area Initiative Management Office.  They are a wealth of information and expertise on the clean project and always available and willing to meet to discuss any concerns or questions you may have as a home buyer.  

3. Property Value Protection Program. The purpose of the PVP is to compensate homeowners that experience a loss of value directly due to the project. Common examples are homes that either require clean up or are along a truck route. Its assumed that a home that is directly impacted by the program will sell for less than a similar home that isn't directly impacted. As such, the PVP is in place to protect the homeowners from such loss. There is an appraisal required and the process of course to receive a claim.   

4. Radiological Status Letter: You as the buyer have the right to know the history and current status of the property as it relates to the program. Each and every property in Port Hope obtain a radiological status letter from the Canadian Nuclear Laboratories (CNL) that outlines the history of testing, any remediation, and current status of the property. If the property is above the normal level then it will be outlined in this letter or if it requires clean up under the program. As a buyer, this letter should be provided to you prior to making an offer. If it's not, then your offer must be conditional on obtaining one and reviewing it.   

5. Use a LOCAL Realtor. There is no more important town or community in Ontario, where I believe the use of a local and knowledgeable realtor is essential to protect your interests. From what route the trucks travel, what the timeline of clean up will be, clauses to protect you in an offer, to dealing the PHAI office. Only local realtors know the ins and outs of this program and the impacts it can have on you as a buyer. Doesn't have to be me, we've got a lot of fantastic and knowledge local realtors in the community. And I have no doubt each and every one of them would be willing to sit down with a buyer and walk them through what you need to know before you buy. From experience, out of town realtors usually, haven't heard of the program prior to showing a home in the area which becomes a challenge as they are supposed to be the ones educating you as the buyer on it. And if they don't know anything about it, how are they suppose to help you as their client?  

For more information on the Port Hope Area Initiative Program, you can visit them online at  http://www.phai.ca/en/home/phai/default.aspx For questions on buying or selling a home in Port Hope and the impacts of the program you can call me directly anytime at 905-375-0062 or at  pennington.remax@gmail.com