The importance of a property inspection when buying your home

Written by realestateview.com.au in Buying

When buying a new home, having a property inspection can be the deal-breaker for buyers.

Discovering out your dream property has had dodgy renovations by previous owners or is battling a termite infestation would put anyone off.

That’s why you should always be prepared before signing on the dotted line. Knowing the ins and outs of your new home will avoid any unwanted surprises after you’ve settled in.

After organising an initial list of homes you’re interested in purchasing you should, if possible, arrange an in-person inspection with the real estate agent.

property-inspections

If you are purchasing from interstate or overseas, you can ask the agent to send you video and images of the property and any selling features they might like to point out. A buyer’s agent can help you save thousands on a bad investment by representing you during the process.

When inspecting a property, among other things, keep an eye out for the following:

  • Has it had flood damage or is it in a flood zone
  • Check if the neighbourhood is noisy or if there is construction nearby
  • Check for signs of termites, mould and rot
  • Check the water pressure in the taps and bathroom
  • The current tenancy rate if purchasing as an investment

New homeowners should also consider including a building inspection as part of the contract for the purchase.

A properly conducted building inspection will provide potential owners with information that could ultimately influence their decision to purchase the property and will assess whether the house is structurally sound.

In a perfect world, the building inspection should be completed before making an offer to purchase a property, although this can cause delays.

The majority of buyers will include a building inspection as a condition to an offer which will include information about structural defects, any actions to be taken on the property and a completion date.

If the report comes back with negative findings, the condition should then offer the seller the option of fixing the problems within a set time frame. If the seller refuses to comply, the buyer should have the option of terminating the contract.

Don’t be afraid to ask the seller to meet any expectations you may have about the integrity of the structure, including fixtures and fittings.

A reputable building inspector will discuss all these issues with you and more to create an inspection that suits your requirements and provides you with peace of mind.

When choosing a building inspector, check they are qualified to be a building inspector and ask your inspector about what industry experience they have and how long they have been in business.

You should ensure they are adequately insured. A professional service should have Professional Indemnity, to cover the advice they are offering and Public Liability.