The housing crunch may be seeing some relief now, but the buying frenzy that ensued during the hot market last year is still causing chaos for some home owners.
Frank Loughrey bought his brand new Clayton Heights townhouse with his wife and two young children last year.
He still remembers the open house for three half-built lots in the complex, and the several eager potential buyers checking out the properties.
91裸聊视频淭here was at least three to six cars that had pulled up to this complex wanting to buy one of three units available,91裸聊视频� he said.
Feeling the pressure and fear he91裸聊视频檇 be scooped by another buyer, Loughrey made a one-subject offer, foregoing a home inspection.
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Five claims of 132 deficiencies later, Loughrey says regulations need to be in place to protect home owners and buyers struggling to find an affordable house to live.
Problems include an improperly laid and leaky foundation and chipped countertops.
Loughrey said he91裸聊视频檚 been going back and forth with the builder and Pacific Home Warranty 91裸聊视频� but it91裸聊视频檚 been a stressful and frustrating process.
91裸聊视频淚 made a gamble and I lost,91裸聊视频� he said. 91裸聊视频淚91裸聊视频檓 just going to work harder and make sure everything gets repaired.91裸聊视频�
In the meantime, Loughrey wants to see governments intervene through the whole process, from builders to home inspections. He said he hates to think of another family being in the same predicament if he were to have turned the house down.
91裸聊视频淢unicipal, provincial, federal 91裸聊视频� something has to be done.91裸聊视频�
Loughrey certainly isn91裸聊视频檛 the only British Columbian who91裸聊视频檚 taken the risk of a no-subject purchase in recent years.
Helene Barton, executive director of the Home Inspection Association of B.C. said back in July that only about 10 per cent of home buyers were requesting home inspections. That91裸聊视频檚 compared to 75 per cent in 2015.
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Despite the market starting to cool off, not much has changed.
Barton said there91裸聊视频檚 been a noticeable shift in buyers feeling the need for inspections. 91裸聊视频淢any realtors, in my opinion, have become used to a no-subject offer,91裸聊视频� she said. 91裸聊视频淎nd more and more inspections are being skipped even as the market normalizes.91裸聊视频�
An effective way to minimize the chances of home buyers finding themselves in similar situations is to make inspections mandatory, Barton said.
Until then, she warns that recent buyers could be finding deficiencies months or even years after purchase.
ashley.wadhwani@bpdigital.ca
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