Why You Need a Building Inspection Before Buying

By Peter Sarmas on 23 Oct 2013
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If you are looking to buy a new house, you might be wondering whether you should get a building inspection before committing to a purchase.

To put it simply, the answer is yes, you should! Most people would probably not buy a house without inspecting it, but the truth of the matter is that building inspection is even more important. Read on to learn why.

Prevent Nasty Surprises

Building inspections exist to make sure that properties are in line with state building codes.

They are one of the most crucial steps you can take in ensuring you make a good purchase, and will prevent any nasty surprises from popping up down the track.

Whether you are looking to purchase a house, unit or apartment, a building inspection is important because it guarantees that the property is in good condition, and does not have any major problems that are likely to cost you money to fix, or that will bring down the property’s value.

Unfortunately, you cannot trust that every real estate agent or vendor will tell you the whole truth about the condition of a property.

Occasionally, uninformed buyers fall for the cosmetic appearance of a home without taking the proper precautions to investigate its condition. They are later met with the unpleasant news that their new home requires major structural repairs.

Building Inspectors Will Examine Areas You Overlook

While you may think that you are able to determine the condition of the property during the open for inspection, a qualified and accredited building inspector will be able to examine things you are likely to miss.

The building inspector should be able to inform you of any structural damage, whether the roof is sagging, if there is any dampness in the walls, if the electrical wiring is in safe working order, if there is any asbestos on the property, if there are any termites or infestations, and if any renovations that have been made were approved by the council.

It Is Better to Be Aware

Be warned, you may not receive the news you want.

If you have your hopes on a house that receives a poor report, keep in mind that it is far better to be fully aware of the condition of the house so that you are able to make an informed decision.

Use a Poor Report to Negotiate

Remember, a poor building inspection report doesn’t necessarily mean you should rule out buying the house completely – a smart buyer will use the report as power to negotiate a better price.

If it seems likely you are going to need to make renovations or repairs to the house in the near future, consider whether you are willing to invest the time and effort in fixing up the property. If this doesn’t deter you, use your knowledge to your advantage and try to negotiate yourself a better price.

You could end up knocking the price down far enough to completely cover the cost of the necessary repairs, and who knows? You may negotiate the price down more than that.

If you are thinking of buying selling or investing and would like a FREE 5 minute chat
with Street News Director Peter Sarmas, please contact him on 0418 740 606
or via email at [email protected]

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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