Thinking of buying a home in Vancouver? Whether this is your first or fifth home, take a moment to read the following opinion piece. It may just save you making a big expensive mistake.
The real estate market in Vancouver has been absolutely crazy over the last few years, with homes selling for well over asking price, buyers putting in offers before they can even see the home, and insane bidding wars between multiple parties.
Lets just say if you are a realtor, you have had some really good years. But what about those unlucky few that bought a place and are now dealing with shotty renovations, hidden issues, and all out-nightmare scenarios. Unfortunately, there are contractors and home owners looking to make a quick easy buck, with some older homes not renovated properly or new homes that were not built properly.
Like buying a used car, there is only so much you can tell without actually owning and living with it for a little bit. Most buyers think they are safe because they got an inspection before they bought… Unfortunately, most home inspectors know the basic trouble spots to look for but are generally NOT professionals in any one trade. Home inspectors are protected by Errors and Omissions Insurance which costs them around $4000, while an Electrical contractors insurance costs them around $1500 a year. Simply put, the insurance companies realize there is a much higher risk in a home inspector missing something over a trained professional in a specific trade.
Most people do not have access to a long list of home inspectors to call and in turn ask their realtor for a recommendation. To me this is like asking the mechanic at the used car lot if the car you are looking at is any good? Lets face it, realtors need to sell houses to survive, inspectors need to inspect houses to survive. If an inspector is overly critical and is causing sales to not go through, would they still be the first recommendation? Would a realtor keep recommending the inspector who keeps losing them sales? Personally, this seems like an easy conflict of interest.
Now do NOT get me wrong, more likely then not, your realtor and home inspector are not going to lie to you just to make a single sale. I know a lot of realtors who are more honest then they need to be and are looking to build long lasting relationships with their clients. This is geared towards the small percentage of people who are more concerned with making a quick buck and not worried about longevity in their field. Unfortunately, there is those unlucky few who find this out the hard way and I wish I could say that I have never had to console a mortified new home owner as they learn that their life savings was put into a home that requires tens to hundreds of thousands of dollars of repairs to bring the home to the minimum acceptable code standards.
In BC all home inspectors need to be certified and there is a process that needs to be followed. In short the process goes something like:
- Take a 3/4 week course.
- Pass a test.
- accompany another inspector for 50 hours.
- Receive a letter of recommendation
- Obtain business licenses and insurance.
- Start doing home inspections!
I don’t know about you, but that does not seem like nearly enough training for how big of an investment is being made. Taking a 150-hour course that covers; roofing, flashings, chimneys, exterior systems, interior systems, plumbing, insulation, HVAC, ventilation systems, drain tile, damp proofing, framing, building code and electrical systems seems like A LOT of information to understand in such a short period of time.
In comparison, to become an electrician, plumber, HVAC tech or carpenter in BC the requirements are:
- 6000 hours of hands on work experience.
- 4 full time courses ranging from 4-10 weeks each.
- Pass written exams administered by provincial government.
- Receive a letter of recommendation from certified person in trade.
- Work as a journeyperson for an additional 2000 hours.
- Take additional code courses and receive a letter of recommendation from the instructor to even attempt the contractor’s exam administered by the province.
- Obtain Insurance and Bonding before applying for contractor’s license.
- Maintain relevant trade knowledge and code courses through provincial government administered programs throughout your career.
I don’t know about you, but it seems like a lot more work to become a certified contractor then it does to become a Home Inspector, yet home owners are still taking the risk and not thinking to ask the opinion of a trained professional.
Insurance companies are starting to realize the downfalls in this inspection process and are asking for more in-depth assessments when homeowners are applying for insurance. Unfortunately for most home owners in the Vancouver area, they are spending their life savings just to scrounge together a down payment let alone having extra money set aside to re-wire a home they just bought.
This may all seem crazy, overwhelming and unnerving, but don’t worry, there is a simple solution. Rather then hiring the “jack of all trades, master of none” to inspect everything in and around the home, ask your realtor, friends, Siri or Alexa if they know a trusted electrician, plumber, roofer and carpenter in the area. If you are new to BC, then check out the Technical Safety BC website which has a list of contractors. Ask them to come do an assessment of the system in your home. The cost of paying four trades rather then one person might end up costing a couple hundred dollars more, but you are receiving the opinion of a certified professional trained in that specific field. The best part is the tradesman are all getting paid regardless if the home sells or not, nobody is persuading their opinion one way or another. It also gives the buyer an opportunity to meet a group of trades they can call upon to fix anything that is found during the inspection. Just remember, talk is cheap. Do not be afraid to call around and ask opinions, just remember what is in it for them.
If you have already purchased your first property and are looking to turn it into a home, read our Ultimate Guide to Building a Smart Home as well as our complete list on Everything Home Automation!
