At Network Exchange Realty, we understand that purchasing a property is a significant investment, and it is essential to make an informed decision.
That’s why we recommend organizing a professional building and pest inspection before finalizing your purchase decision. A building and pest inspection involves a suitably qualified professional physically inspecting the property to assess the condition of the building and structural elements while checking for the presence of any pests, before providing their findings in a written report.
Why are Inspections Important?
This inspection can help you uncover any major building problems or pest issues in advance of your purchase and provide insight into how they may affect the property over time. Choosing the right inspector is crucial. Always use a qualified professional such as a licensed builder, surveyor, or architect to conduct a building inspection.
They will look past any cosmetic improvements obscuring issues that might otherwise be missed by an untrained eye while ensuring the report complies with the relevant Australian Standard. Timing your inspection is also crucial. It should be conducted before entering into a contract to avoid losing your deposit if you cancel the sale.
Likewise, it should be completed before bidding on a property at auction to avoid purchasing the property instantly with no cooling-off period. Inspectors will assess numerous areas of a property when looking for defects, including the interior, exterior, sub-floor space, and roof.
Analyzing Property Inspection Reports
While reports can vary depending on the inspector you use, any observed major defects should be listed, particularly urgent or serious safety hazards. Once you receive the report, it is essential to talk with your conveyancer or a trusted family member or friend with experience in dealing with inspection reports.
While many homes will present with one or more minor issues, where a home is riddled with problems or has a significant issue, then you should carefully consider whether the cost and time required to resolve them are worth proceeding with the purchase.
At Network Exchange Realty, we can assist you with starting your buying journey, and our agents can provide expert advice and assistance throughout the process. For more tips and advice on getting ready to buy, read our blogs on what first-home buyers wish they knew before buying property and getting ready to buy this financial year. You can also search our current homes for sale. Contact us today to start your buying journey.
Get in touch with our team to learn more about what you need for property purchases.