Whether you’re getting a fixer-upper or a luxury home, you’ll definitely be worrying about the money you spend on such a massive purchase. Because you don’t want to fork out for a property that is more of a liability than an asset, however, the decision whether to buy it or not has to be made fast. After all, the clock is ticking from the moment you sign on that line and put a deposit down.

This is why the pre-purchase building and pest inspection you book has to be done fast. Wait too long and you’ll likely run out of time to make crucial decisions based on the report’s findings. Without the aid of an inspector, it’d be hard to decide whether to negotiate for a better price, accept the flaws and proceed with the sale anyway, or cancel the deal entirely.

Despite the fact that a building inspection can shape your financial future and ensure a property is a good investment and not a lemon, investors hesitate getting one done because of financial constraints. This may be why some might be tempted to cut corners this early in the purchase cycle.

Are Cheap Building and Pest Inspection Any Good?

For most inspection companies, offering inspections at the cheapest rate is only possible through volume. That means they may have dozens of inspectors on the field performing several inspections a day. Go with such companies and you’ll get your property inspection done in less than half an hour.

While that might sound enticing, know that they’ll probably just take a quick look to see if there’s no obvious faults in the home. In most cases, they’d limit the scope of their assessment to necessities like drainage, ant caps, and noticeable signs of infestation. When they find nothing visibly concerning to the property in question, they’ll proceed to ‘fill in the spaces’ on a pre-purchase inspection report template.

Although going for this option makes financial sense (especially when you’re on a tight budget), remember that a proper and thorough building and pest inspection is very critical in situations where you’re buying a rather inexpensive asset. Such a fixer-upper could become a disaster pretty fast, especially when you simply breeze through the inspection phase.

The Cost of a Reliable Building Inspection

For the most part, the cost of this property assessment largely depends on factors like the size of the building inspected, type of construction, the type of inspection it requires, and the property’s location.

Having a small property inspected for building & pest using two inspectors may take you back around $500-$600 and an average-sized one could be estimated to cost between $600-$900. Most building inspections don’t come with a flat rate, though.

Ticking All the Right Boxes

As much as you want the pre-purchase inspection report done fast, you have to be sure that the information it provides can serve you well. That means you have to make sure the inspector ticks the following boxes:

  • Properly document problems and potential concerns (i.e. clear image and straightforward remarks) so you can have the evidence to support your argument throughout the negotiation
  • Provide expert advice on major problems as opposed to cosmetic ones so you can be pointed in the right direction as you calculate potential repair costs
  • Spend a good amount of time fully investigating the hidden problems found throughout the property in question
  • Do a comprehensive report on the property; not just one that uses generic, vague descriptions and phrases. The inclusion of pictures would be great, too

With all these expectations met, you can rest assured that you can get the best possible information from your building inspection report. Regardless of the kind of property investment you’re going for, you can save a bundle off the price when you’ve got a thoroughly done assessment of the prospective asset.

Factors That Impact Building Inspection Price

As mentioned, a lot of factors come into play as you get a quote for building and pest inspections. That includes the following:

  • Property type – The type of inspection required and the length it takes will depend on this specific factor. For example, an apartment situated several floors above the first floor will not have a subfloor to inspect or most likely roof space or on the roof inspection. If a house is built on stumps and has a sub floor space rather than on a concrete slab, then this inspection will take longer so cost more as the inspectors will need to crawl around under the house for 20 minutes or so.
  • Inspection type – A need for technical expertise as well as the time it takes to finish the inspection often depends on the type of inspection requested. If a property owner requests for an investigation on any apparent mould and pest infestation, aside from the general building inspection, he or she may likely incur extra costs as the inspector may bring in licensed specialists e.g. plumbers and electricians for the job.
  • Property size – A one-bedroom apartment generally costs less to inspect as it requires less time to assess compared to a property that has five or more bedrooms.
  • Location – The price of building inspections may vary depending on how far the inspectors need to travel.

It may be worth mentioning that some building inspectors offer their service in a package. To make it more convenient and economical on their client’s part, some will perform building and pest inspection instead of conducting both assessments separately. In most cases, these inclusive packages can save you more than going for standalone inspections.

The “Cheapest” Isn’t the Way to Go

Although you may come across building inspectors who price themselves at the low end of the market, there are no good ones to find within that price range! Even if you want to save up a few bucks on the way to a property purchase, you wouldn’t want to end up with a dodgy report that’s haphazardly done because you’ll definitely lose the race against the clock by the time you organise a second inspection.

In the end, you want to make the biggest financial decisions of your life with the aid of thorough and effective building inspectors like us. Get in touch with our team and we’ll help you make educated choices throughout your real estate endeavour.