Home Buyers Are Being Warned To Protect Their Finances

Ensure You Insure


Article heading image for Home Buyers Are Being Warned To Protect Their Finances

Getty

The Western Australian Building Commission has warned residents about the risks of building a home.

It comes recently after Schlager Homes entered liquidation, collapsing projects in Albany and Perth, and allegedly owing $2.5 million to workers.

Further investigations have suggested that Schlager Homes did not provide insurance and legal protection to its clients.

Building Compliance Director Sandy Randall said its imperative people ensure their building company has taken out Home Indemnity insurance.

“Without that policy, if someone’s handed over a deposit and the builder goes broke…unlikely that they receive any money back in terms of the deposit that they have paid”, she said.

WA Building Commission Warns Home Buyers:

Randall is warning all home buyers to be more careful and know what they’re signing up for.

The WA government has planned to create a fairer system for the building and construction industry with new legislation, ensuring all workers are paid in a timely matter.

Catch the latest headlines and your daily dose of news on The Briefing, with Tom Tilley and Jan Dran, Annika Smethurst and Jamilla Rizvi. Available on Listnr

17 June 2021




Listen Live!
Up Next