5 reasons why you need a building inspection before buying
Auction day is fast approaching, and you’re in for a chance at buying your dream property! If you win, have you safeguarded yourself against the chance of purchasing a lemon? What if your dream home is discovered to contain rising damp? Or worse an insect infestation? Organising a building inspection prior to auction is like purchasing insurance on one of your biggest financial investments. Along with peace-of-mind here are five reasons why you need a building inspection before buying a house.
1) Obtaining a pre-purchased building inspection can help avoid purchasing a property with major and/or minor structural defects. Structural defects can cause a partial to full building collapse, a significant safety issue, causing potential personal injury and costly repairs. It also can determine whether the property has any leaks or drainage issues that can cause mold, rising damp, subsidence, and other major expensive issues.
2) You will receive valuable professional advice on preserving the condition and structural integrity of the building. You can also use this inspection as an opportunity to receive ideas for extensions and renovations that will help to add value to your future home.
3) The comprehensive report will provide you with an assessment of what needs to be done around the property and will also give you a ballpark figure of costs to rectify these issues.
4) When you think about it, the initial cost of a building inspection is a small outlay as this is probably the biggest investment of your life. A pre-purchase building inspection can save you thousands of dollars down the track by determining any issues with the property.
5) Obtaining this information also strengthens your negotiating power. As you will be better informed on the property you will be able to discuss confidently with the agent or seller about the true value of the home.
Also, remember that cheapest is not always the best. Make sure your building inspector is a registered builder, a qualified carpenter and is a licensed timber pest inspector, as they will conduct an extensive inspection of the property. It’s best not to use a builder friend, use an independent expert.