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Media Release |
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NRMA and Archicentre take out Insurance on Home Buying Risks
Thursday, 12 July 2012 15:19
Major insurance company NRMA and Archicentre, the building design, inspection and advice service of The Australian Institute of Architects, have combined to take the risk out of buying a home.
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Mark Stewart |
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Archicentre Chief Executive Officer Mark Stewart said, "With over a third of all homes sold in Australia having some type of serious defect, undertaking a property inspection is the best way of protecting a home buyer's financial position by assisting them to avoid costly repairs that can blow out to tens of thousands of dollars.
"When people find problems after buying a home, these costs are usually added to the mortgage costing even more over time.
"Expensive to fix problems like rising damp, cracking, illegal building and timber rot are some of the more common defects buyers can be left with after purchasing their new home."
Mr Stewart said, "Through a new partnership with Archicentre, NRMA Insurance is helping home buyers avoid costly after-purchase repair work by offering NRMA Insurance Property and Building Inspections.
"All NRMA Insurance Property Inspections are completed by a highly qualified Archicentre Accredited Architect and come with a guarantee offer of up to a $50,000.
"Pest and termite inspections are also available and are a good way for consumers to fully understand the condition of the property."
Mr Stewart said one of the major problems facing home buyers is that in NSW and the ACT, there are no regulations regarding property inspections and there are many providers out there operating with no qualifications who have no insurance or appropriate training and fail to complete the inspection to Australian standards.
"NRMA Insurance Property and Building Inspections are completed in a timeframe which suits the buyer and include a detailed written report and provide advice on areas of concern and preventative measures."
NRMA Insurance spokesperson Adele Buhagiar said, "Archicentre are the experts in their field. They know what to look for, and can identify any serious faults or defects to the main structural elements and exterior of the building.
"They can see through cosmetic improvements covering up faults that might otherwise be missed by an untrained eye."
Media Enquiries:
Ron Smith, Corporate Media Communications, Archicentre - Mobile: 0417 329 201
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