Buying a new home is always an important and exciting time of your life. This home buying guide will walk you through why a building or house inspection is so important before purchasing a new home.
Buying a home is not a something you do everyday and is a huge investment, therefore it is important to find out if your desired property has any hidden defects or faults that might cost you money and heartache in the long run.
What Can Happen if You Don’t Have an Inspection?
Right now, you might be thinking that a house inspection is an unnecessary expense but the cost of not having one can lead to even higher costs – not just financially, but also emotionally as evident by the examples below.
Case Study 1
Evan and Ashley thought that they had bought their dream home in Point Cook. But their dream quickly turned into a nightmare. They incurred about $50k in additional costs because they were unaware of wiring and plumbing problems that had to be fixed after purchasing the place. If they had a building inspection done, they might have been able to lower the sale price to make up for the additional repair costs or forgo the house altogether.
Case Study 2
Andrew and Junie being first time homeowners bought an apartment in South Melbourne without a pre purchase inspection. The day they moved in it rained and water seeped in under the doors from the balcony, damaging the carpet and some of their furniture. Junie was at work at the time and did not notice until she returned home that night. It turned into a highly stressful situation for these two first time homeowners. If they had gone with a house inspection, it would have been found that the balcony tiling had been incorrectly installed and they may have negotiated a lower purchase and had the opportunity of having the balcony repaired prior to moving in.
The house inspection cost far outweighs the financial risks and emotional heartache that stems from buying the wrong property. Don’t let it happen to you.
What Exactly is a Building Inspection and What Does it Include?
A building or house inspection usually gives you an assessment of the following:
- presence of pests such as termites (or white ants)
- asbestos in the house
- roof space and sub-floor (to check for structural damage)
- guttering, down pipes and sub-terrain storm water pipes;
- footings (the base of foundation walls);
- window space (to ensure your windows are adequately sealed); and
- report any features of the house that do not meet current regulations, including illegal extensions or alterations to the property.
Pre-Purchase Defect Reports as Buying Negotiating Tools
After a house inspection, you will receive a full and comprehensive report known as a defect or pre-purchase report that highlights every area that needs special attention and work. At Building Masters, we provide guidance on all issues involving repairs, renovations, rebuilding and the costs involved.
The pre-purchase defect report can be a very powerful negotiating tool in the home buying process. If there any faults or defects found within the property, you can then use the report to potentially lower the asking price or pull out of the deal to avoid making a bad financial investment. Spend a little money on a building inspection and save more in the long run.
Choosing the Right Building Inspector
Now that you’ve understood the importance of a building inspection, it is essential that you choose a quality building inspector to do the job. Building Masters Inspectors are senior Registered Building Practitioners with years of hands-on practical experience. Unlike some of our competitors we are not designers or draftsmen or surveyors. We are the real deal with practical knowledge of building problems, costs and solutions.
Check into the qualifications of the inspectors and ask for a sample building report. At Building Masters, all our inspectors are veteran builders with decades of industry knowledge. The more qualified your inspector, the better – since they will be more likely to find any problems with your desired property.
If you are house hunting and would like multiple inspections make sure you get an inspector who can offer you a discounted rate for bulk inspections to get more value for your money.
Remember, inspect before you buy!