Home inspectors, who play a vital role in every home purchase, have received some bad press over the years.
This generally happens when an inspector gives a home the thumbs-up, but when the buyers move in, they uncover a multitude of (often expensive) problems.
To avoid this kind of situation, the Alberta government finally took a step in the right direction by announcing licensing and standards for home inspectors in the province. The announcement was made this month, but the rules come into effect September 1. Thorough education requirements translate to more professional inspections.
Read the full press release here.
I was happy to see that errors and omissions insurance will now be mandatory for home inspectors. All inspectors are human and can make mistakes, but a small percentage can be downright negligent, lazy or rushed. Either way, you are covered. Making an insurance claim is a lot simpler than trying to take an inspector to small claims court.
(Note: Realtors also carry errors and omissions insurance. This is one the valuable benefits you receive when buying or selling real estate with a licensed agent.)
Keep in mind that the added cost of education, licensing and insurance for inspectors may be passed down to the consumer. Don’t be surprised if you see the price tag of an inspection rise over the next couple of years. However, a $500 inspection can save you thousands of dollars and possibly hundreds of hours of your time that would be spent if you purchased a seriously flawed house. Whether it’s a century-old character home or brand-new construction, I always recommend obtaining a home inspection. It’s a great way to learn about the systems and structure of your home, if nothing else.
Thanks to Reinhard Thomas of Inspection Professionals for keeping me up-to-date on happenings in the inspection world. More from Reinhard in my next blog with “How to Choose Your Home Inspector”. In the meantime, you can direct any questions to email@example.com or 403-650-5159.