Better Protection in the Works for Alberta Home Buyers
We’ve all heard the stories about home buyers purchasing brand new homes, only to find out within the first few years that there are serious problems with their purchase that require costly repairs.
Across the country there have been problems with new homes, whether they’re single-family dwellings or condominiums; some home owners have been hit with such high repair costs that they’ve lost their homes as a result, particularly in cases of leaky condo repairs. It looks like things might be looking up for buyers in Alberta soon though. The Provincial Government has proposed some new regulations to help protect home buyers in the province from shoddy workmanship and create more accountability for home builders.
The new regulations will be included in the Home Warranty Program and will include mandatory new home warranties, a longer period of time that home owners can press charges against their builder for building code offenses, and increases in fines for both first time and subsequent offenses.
Other changes to the Alberta home buying process are coming into effect in September 2011 with regards to the home inspection process. The changes will ensure that all home inspectors have formal training and are licensed by the province. The Home Inspection Business Regulation will also include provisions for errors and omission insurance to protect against mistakes and will mandate which aspects of a property are required to be included in an inspection.
These new changes should help buyers purchase a new home with the confidence that they are well informed and protected against avoidable problems.