A home inspection is a great investment for home buyers

By LegalMatters Staff • Anyone thinking about buying a home should get a home inspection done first. The relatively minor cost ($400 to $600) pays for itself in terms of peace of mind.

“A qualified home inspector can help you make an informed decision about what is likely the largest investment you will ever make,” says Edmonton real estate lawyer Peter Ewanchuk. “Though not mandatory in Canada, these inspections are highly recommended to avoid discovering costly issues down the road.”

He says home inspections are typically carried out after a potential buyer puts in an offer and before the closing process begins.

“Many offers to purchase will include an inspection contingency, obligating the seller to allow the buyer’s agent to inspect the home before closing,” Ewanchuk says. “Even buyers of new homes should insist on an inspection. It may uncover that the homebuilder took some shortcuts during construction that could come back to haunt you in years to come.”

He explains an inspection lasts two to three hours, with the inspector examining all the home’s systems and components (interior and exterior) that are subject to wear and tear. That includes the roof, plumbing and electrical systems and the overall structural soundness of the home.

“Make sure everything you want to have looked at is listed in the contract,” Ewanchuck says. “And after the inspection, the inspector should walk you through the home and discuss any issues that were detected. They must also provide you with a written report that notes any repairs that are needed.”

He adds that Alberta and British Columbia are the only provinces that demand home inspectors be licensed and regulated.

Avoid any inspector who may have a conflict of interest. That would include an inspector who is set to receive a fee from the realtor, your bank or mortgage broker.