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.

害羞草研究所淭here was at least three to six cars that had pulled up to this complex wanting to buy one of three units available,害羞草研究所� he said.

Feeling the pressure and fear he害羞草研究所檇 be scooped by another buyer, Loughrey made a one-subject offer, foregoing a home inspection.

RELATED:

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 he害羞草研究所檚 been going back and forth with the builder and Pacific Home Warranty 害羞草研究所� but it害羞草研究所檚 been a stressful and frustrating process.

害羞草研究所淚 made a gamble and I lost,害羞草研究所� he said. 害羞草研究所淚害羞草研究所檓 just going to work harder and make sure everything gets repaired.害羞草研究所�

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.

害羞草研究所淢unicipal, provincial, federal 害羞草研究所� something has to be done.害羞草研究所�

Loughrey certainly isn害羞草研究所檛 the only British Columbian who害羞草研究所檚 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. That害羞草研究所檚 compared to 75 per cent in 2015.

RELATED:

Despite the market starting to cool off, not much has changed.

Barton said there害羞草研究所檚 been a noticeable shift in buyers feeling the need for inspections. 害羞草研究所淢any realtors, in my opinion, have become used to a no-subject offer,害羞草研究所� she said. 害羞草研究所淎nd more and more inspections are being skipped even as the market normalizes.害羞草研究所�

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
Like us on and follow us on .