What are their purpose and why are they important?
The purpose of a home inspection is to reveal any defects or flaws that a property has, so that potential buyers can make an informed decision and avoid costly surprises down the road. During an inspection, the inspector will investigate every room in the home to identify and assess possible underlying health and safety issues; they will look for structural issues, water damage, working appliances, insect or pest problems and even forecast potential future expenses.
What do they mean for homebuyers?
An inspection report can help a homebuyer decide if a property is a good fit for them or if it has too many problems to deal with, and they should consider re-evaluating. It can also be useful during pricing negotiations because it discloses issues that would likely cost the buyer additional money above the purchase price to repair; buyers can use the report to request the seller to make the necessary repairs or reduce the asking price.
Who should attend the inspection?
It’s a good idea for the buyer and their REALTOR® to be present during the home inspection so that they can ask questions and fully understand any issues if they are discovered.
Are home inspectors licensed?
In Canada, only two provinces have licensing requirements for home inspectors: British Columbia and Alberta. The Canadian Association of Home and Property Inspectors (CAHPI) has established standards of practice and codes of ethics and will award a professional designation to inspectors who meet all of the regulations.
What are the top issues to consider when purchasing a property?
Any property can host a variety of defects, but some of the pricier issues that you need to be on the lookout for include:
- Structural problems
- Pests and termites
- Water damage or plumbing defects
- Mold and asbestos
- Wiring and electrical issues
- Heating and air conditioning malfunctions
- Well water complications
- Roof leakage