Home inspections rebound amid slower housing market – The Globe and Mail

Home inspections are making a comeback as buyers take advantage of a slow real estate market to make sure their dream home isn’t a disaster in disguise.

Jonathan Sheppard, a home inspector in B.C.’s Lower Mainland and president of the Home Inspectors Association BC, says the practice spiked toward the beginning of the pandemic as home sales started to rise, but by the time sales peaked during the pandemic, business was “dead” as frantic buyers were forgoing all conditions in an attempt to win bidding wars.

Before the pandemic, 12 inspections a week would be a typical workload for Mr. Sheppard. These days, he says business comes in short spurts, but he believes the tables have turned, and buyers are using their power to be sure of what they’re purchasing. He’s averaging around five inspections a week.

“If there’s an opportunity for home inspections, people will take it, because the consumer wants it,” said Mr. Sheppard. He pointed to recent legislation by the B.C. government to introduce a three-day cooling-off period for home purchases in 2023, which is meant in part to give buyers time to organize a home inspection even if it wasn’t included as a clause.

Nasma Ali, founder of One Group Toronto Real Estate, says the vast majority of buyers she works with are including inspection conditions to take advantage of the slow market, which has been sluggish in the face of multiple interest-rate hikes.

“Buyers have this mentality that they’re doing you a favour by giving you this offer, so they’re going to include every possible condition,” said Ms. Ali. “It’s a buyer’s market, there’s no doubt about it.”

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She says the trend is benefiting buyers in the suburbs and exurbs in particular, since listing agents in larger markets like Toronto had already started to produce their

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