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It may seem one of the more tedious aspects of buying a home, but building inspections can help safeguard purchasers against investing in fault ridden properties.
Scott Mackey, Principal of RE/MAX Precision, says “it’s surprising how many people don’t think about getting a building inspection, or even contemplate forgoing one for the sake of saving a few hundred dollars”.
“The results can give peace of mind, with the knowledge that what they’re buying isn’t going to cost them in the long run”, he says. These inspections are essential for a number of key reasons:
1. Checking for structural issues
A structurally sound building is a must when you’re making a purchase because of safety issues and cost concerns. Buildings must also conform to the Building Codes and Standards of Australia. If you purchase a home or commercial building that does not conform to these standards, you will be responsible for the cost of bringing the building up to standard.
2. Budgeting for repairs
You may feel it’s worthwhile to purchase a building that needs some repairs because it is available for a discounted price, but going into the sale without an inspection could mean big costs for hidden repair issues.
If you opt for a building inspection, you know exactly what needs to be done to bring the building up to where you’d like it to be. Then you can look at hiring a professional to give estimates on the repairs that need to be done to complete an accurate budget for repair costs. For renovations, inspections are a cost saver and a life saver.
3. Electrical wiring and smoke alarms
Faulty electrical wiring can make for a dangerous situation that could increase the risk of electrocution or fire. Invest in a building inspection to avoid serious injury related to electrical wiring issues or fire.
4. Identifying unsafe areas of a home
If you’re buying a home for your family, you want to be sure the home is safe and ready for you to live in. A building inspection will reveal any areas of the home that may be deemed unsafe, in particular, the presence of asbestos and other dangerous materials, missing or loose balustrades and cracks in walls.
Uncovering such hazards gives you the opportunity to decide if you are willing to take on the cost of making the home safe.
5. Evaluating sundry structures
The building itself is not the only part of a property that may need the keen eye of a building inspector. Did you know sundry structures including sheds and patios also have to be examined?
Local council regulations (and they vary from region to region) often dictate where these structures can be built, and purchasing a building that does not conform with these regulations can mean tearing down a building which may have been one of the reasons you decided to purchase the property in the first place.
Making sure the building you are purchasing is safe, requires no expensive repairs and conforms to council regulations is absolutely essential. An inspection could stop you making the biggest financial mistake of your life – it’s a very small price to pay.
For more helpful advice, keep an eye out for our weekly blogs or give Scott and the team a call today. We’re here to help make your real estate journey as transparent, informative and rewarding as possible.
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