Building Inspections: An unregulated industry, what does this mean for you?
Just like your Accountant or Doctor works in a regulated industry, you would expect the same from the inspector carrying out an inspection on your new home you’re buying or building, right?
Your expectation is one thing, but facts, say otherwise. Since 2009, Building Inspectors are no longer regulated under the Home Building Act in NSW (and other states), nor do they require a license by Fair Trading.
This means, the person you are paying to complete your inspection, doesn’t need to be qualified. They might have some basic building knowledge, maybe they’re a carpenter, or a painter and they will probably provide you with a report, which is basic and vague.
As a building inspection company, why are we sharing this?
Because we set ourselves apart from the rest, we want our clients to have this knowledge because knowledge is power and without it, you could risk investing in one of the biggest purchases in your lifetime without understanding exactly what you’re paying for.
As a result of the regulation change, there is now a clear risk to those wanting to engage a building service inspection. Before engaging a building inspector, ensure that the following is in place:
- Check what qualifications the person that is carrying out your inspection has. Don’t be afraid to ask questions, ensure they have building experience. (All of our inspectors at Houspect are qualified builders)
- Ensure that if you need any help in understanding your report that your inspector is available to speak with you once the inspection and report has been completed.
- Check they have professional indemnity insurance: Many will have as little as $250,000 and some won’t have any at all. This means you have no protection. Houspect has coverage of $5,000,000.
- Ask for their reviews, search online to see what past clients have said about them. Their reviews will speak volume.
‘Cheap and Fast’ are catchy labels, but they don’t in any way guarantee effort and quality. Building or buying a home isn’t a cheap exercise and it’s important to ensure you understand exactly what you’re paying for.