Buying a new home can be an exciting time but the process of finding a property and completing the sale can also be lengthy and stressful. Once you have found your dream property you probably want to get the sale completed as quickly as possible without the need for unnecessary delays.
Although the process of buying a property can seem drawn out, it’s essential that you don’t skimp on the details in an effort to save time or money. Buying a property without organising a pre-purchase inspection first could lead to an expensive mistake and it could even endanger your family or your tenants.
Here are five reasons why you should always arrange a pre purchase property inspection before buying in Melbourne:
- If you plan to renovate. You may think that the condition of the building isn’t important if you are planning to undertake extensive renovations but a pre purchase property report can identify any hidden repair issues that could fall out of the scope of your planned renovations. This can help you budget accordingly and ensure that your renovations don’t end up costing you more than you expect, or decide against purchasing the property if the problem is too costly to repair.
- Safety. As well as avoiding repair costs, making sure the property is safe to live in is essential, especially if you have a family. Health and safety issues in the home are not always obvious and without an inspection you may be unaware of potential hazards like asbestos, damp issues, cracks in walls and structural faults. A pre purchase building inspection can also alert buyers to issues that warrant further investigation, like faulty wiring.
- To ensure your building is structurally sound. A structurally unsound building could potentially collapse and as well as providing a risk to health and safety, a major collapse can be impossible to repair without major construction. A pre-purchase property inspection checks for structural weaknesses and faults and helps to ensure that your potential purchase conforms to Australian building codes and standards. If your investment property or home doesn’t meet the required codes you may end up having to pay for the cost of making the building compliant.
- To evaluate external structures as well as the main building. External buildings like garages and sheds can be dangerous if they have structural issues or damage and there are very specific rules about where and how external structures can be placed. Repairing a shed or garage can be expensive if it turns out to be unsafe or doesn’t comply with building codes. If you purchase a home with a structure that hasn’t been properly constructed and approved, you could be asked by Council to remove it.
- To ensure you are paying a fair price for the property. Buying a property is probably going to be one of the biggest financial investments you ever make. Uncovering potential problems and getting a realistic understanding of the condition of the property and any surrounding buildings can help you negotiate the right price and avoid paying more than the property is worth.
Arranging a pre purchase property inspection can help you avoid making an expensive mistake and helps you ensure that your new purchase is not only in good condition but safe and compliant with all the relevant building codes. If you do find there is a problem, you may still wish to purchase the property, but being aware of important issues allows you the opportunity to negotiate further or budget accordingly for repairs and renovations.
Compare Inspections makes it easy to organise a pre purchase property inspection in Melbourne. With us you can compare inspectors and rates in your area within moments and even choose to make money back on your inspection report by reselling it after you have purchased it. Don’t risk your financial future – always get a pre-purchase property inspection report.
By Darel McBride
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