One of the most important parts of the home-buying process is the property inspection. While it may be the last thing you feel like doing after months of searching for the right home and finally having an offer accepted, it’s a critical step that should never be overlooked.
Having a set of unbiased, expert eyes can help reveal any hidden issues that the property has and save you from making an ill-informed purchase. Here are just some of the reasons to have a professional conduct a thorough property inspection before you settle on a property.
- Ensure the safety of you and your family
There’s nothing more important than the safety of your family, and a property inspection can help to uncover anything that may pose a risk to you and your loved ones. Problems like asbestos, structural defects and the presence of termites are just some of the commonly found issues that can pose both a health and safety risk.
- It’s affordable
One of the best parts of a property inspection is that they are very affordable, and generally don’t cost more than a few hundred dollars. When compared to the investment and financial risks of buying a home, it’s a tiny dot in the big scheme of things.
When you consider the potential costs that come with an uninspected home, a property inspection is well worth the investment and that couple hundred bucks can save you tens of thousands in repair costs.
- Reveal pest or infestations issues
Most property inspection companies offer combined property and pest inspections, and this is an offer that you should always take up. Something like a termite infestation can go unnoticed for months or even years and can cost thousands of dollars in repairs.
They can wreak absolute havoc on the foundation of your home and are the last thing anyone would want to deal with as a new homeowner. Rats, mice and possums infestations are other issues a pest inspection could uncover, so when looking for a building inspection make sure this service is included.
- Expose illegal renovation work
Uncovering illegal renovations or additions to a home is something that only a professional can do, and is one of the most quintessential reasons to invest in a property inspection.
Modifications to a home that don’t meet Australian Standards or were not permitted by zoning laws and council restrictions can result in huge headaches, impacting your taxes, insurance and permit applications. A professionally conducted inspection will help you to amend these issues before they become too costly.
- Uncover structural issues
An experienced property inspector will be able to assess the true condition of a home, and any dangerous problems it may have. Structural issues and damages may not be immediately noticeable to the blind eye but can pose serious risks down the track. On top of that, they can be extremely costly and take a considerable amount of time to repair.
- Provide an estimate of maintenance costs
Beyond exposing any faults or red flags in a home, property inspections can also provide you with an estimate of a property’s maintenance costs. This is through determining the age of various systems such as air conditioning, water systems, plumbing, electricity and more. They will be able to provide you with an idea of the condition they’re in and when they will need replacing.
- Negotiation leverage
If you uncover some issues in a property but still want to go ahead with the purchase, you can use this information to your advantage. Whether you demand that the repairs be paid for by the owner prior to the settlement or you get the property at a lower price, you should be able to work out a fair deal with the help of your realtor.
In order to achieve true peace of mind and make the most informed decision possible, don’t skip this all-important step of the home buying process. Pre-purchase property inspections are available to help you stay safe and save thousands.