Buying a property is an expensive exercise and it is tempting to try and save money.
You may feel that you and perhaps your partner are more than capable of inspecting a property and find any potential issues.
However, by choosing a professional who is not emotionally invested they are trained to notice things that you may miss. They will help you to potentially save money and ensure your new home is safe and sound.
What is a pre-purchase building inspection?
Carried out by a qualified inspector, it is an overall assessment of the condition of a property. They will inspect the property from the top to the bottom. Looking at the roof, down to the structure of the underneath of the house. Then as part of the report, you will be provided with estimates to repair any issues. This report gives you the power to potentially negotiate the sale price of the property.
The vast majority of buyers also have a pest inspection to check on any termite or other pest issues.
What will be looked at?
Structural – You want to know that your property is structurally sound. Some structural issues can cost many thousands or tens of thousands to repair, assuming they can be repaired.
Necessary repairs – Your report will provide you with a list of repairs that are necessary for the property. Along with a list that may have to be looked at in the future.
Unsafe areas – Perhaps the home has asbestos or there is a deck that needs repairs.
Electrical wiring – Faulty or old dangerous wiring increases the chance of a fire in your home. If this is found you may be up for the cost of rewarding the property.
Smoke alarms – There are laws that require properties to have smoke alarms and enough to cover the property.
Additional structures – Garages, sheds and more all will be inspected.
Note: The property inspection is not generally looking at cosmetic issues although some may include it in their report.
What will a pre-purchase building inspection cost
Of course, this price is variable but you should expect to pay an average of $600 depending on the property size and location. It is a small price to pay when you are spending hundreds of thousands or millions on a property.
If you have any questions about arranging a pre-purchase building inspection please get in touch.
At Select Conveyancing, we are here to help you every step of the way in purchasing your property.