Building a house is no small feat so a lot can potentially go wrong along the way, especially when tiny details get overlooked early on in the construction phase. Those overlooked faults may seem insignificant (and barely noticeable) but they may wreak havoc over the course of a few years. This is why buying a new home is a risky business.
Any real estate purchase, indeed, comes with unseen risks and this is why a building inspection is becoming a norm in the country. In fact, this particular procedure has been made mandatory for property purchases in at least one state. However, getting one isn’t just done for the sake of legal compliance.
In reality, there are significant reasons why a pre-purchase building inspection should be included as part of your contract for the upcoming purchase.
You want to know what you’re getting for your money every time you make a purchase. Buying a property is no different. Keep in mind that the Australian Consumer Protection Law only covers purchases of up to $40,000 and there’s no insurance policy that can protect you against buying a house riddled with damage and defects. Simply put: once you sign the purchase contact for a house, there’s no going back even if something is inherently wrong with it…
With a building inspection report, you’ll be presented with the weaknesses’ within a specific property’s structure e.g. poor workmanship, uneven foundations, not to the standards etc. Threats such as these can affect a building’s structural integrity and buying an house with no knowledge of these will only sour the entire property purchase experience.
If you happen to be securing the purchase of an older property, you may have to watch out for pests, especially termites. These pesky insects dig their way into the house and eat wooden components from the inside out, leading to detrimental structure damage that may be too expensive to fix.
Extensive termite damage will render a property irreparable and, in some cases, will require demolition. You wouldn’t want to purchase a property and then have it demolished (for renovation) in just a matter of weeks or months! Isn’t this enough reason to invest in a building & timber pest inspection for the real estate asset you’re planning to buy?
Investing in an existing property means that you have little to do with the asset’s construction. Since you’re not involved in the process, you may have no way of knowing whether the builder and tradespeople who built it have cut corners somewhere. More often than not, shoddy workmanship will result in major headaches later on.
To know if the property you’re about to purchase uses substandard materials or was built below the building requirements, you need to ensure it undergoes a building inspection. Smart real estate decisions often come from understanding all there is to know about the asset you’re about to acquire, after all.
The most common issue present in properties is water damage and the related mould issues that can result contributing to continued health hazards if left unattended. Because it’s costly to fix, you have to make sure that the property you’re about to buy doesn’t have traces that it has sustained this kind of damage.
Typically, water damage can be caused by occurrences such as faulty air-conditioning units, leaking showers, insufficient weatherproofing, water ingress etc. Get a pre-purchase building inspection done, find any signs of this issue with a moisture meter, and get it rectified by the vendor before you move forward with the purchase. That’s just part being a smart property buyer!
As you get to the negotiation table, you want to give yourself as much leverage as you can so you can get a property at a reasonable price. This is where building inspections will come in handy.
When inspectors find significant issues in the property you’re prospecting, you can use this newfound knowledge to shave enough off the property’s asking price in a bid to cover for repair costs. It’s a good way to get a better deal with the vendor, especially when you really want to buy a particular property.
Peace of Mind
One thing you can’t put a price on is getting peace of mind as you go through the stresses of buying a new house. Taking the time to understand what you’re putting your hard earned money down on, through a building inspection is one way to achieve this. It’s a safety net and it should keep you from purchasing a residential property may give you nothing but regret for years to come.
Protect yourself by making smart and knowledgeable investment decisions, which can only be achieved with the aid of an expertly undertaken building inspection.
Building Inspection Is Essential to Successful Real Estate Purchases
Naturally, you’d expect a property builder to be following all Australian building regulations & standards, never skip corners, and ensure that every interior fixture to be in working order. Unfortunately, this isn’t always the case and there may be a chance that something somewhere may not be quite right. To find those minor and major issues, you have to get an independent building inspection done. This way, you ensure that you end up purchasing a safe and structurally sound property.
As much as you want to snag a bargain off your real estate purchase, you certainly don’t want to end up buying a lemon either. Although paying a visit to the prospect property helps, bringing in experts to complete a detailed inspection is a better way to check if you’ll end up with a worthwhile asset. Indeed, getting a timely building inspection from us should help prevent potentially disastrous outcomes.