09 SEP 2015
Whether you're a first homebuyer looking for the perfect family home, or a keen investor scoping the market for another property to add to your portfolio, ascertaining the condition of a property should always be a priority. Knowing what you will likely need to repair, and when, is crucial information to have when you're buying a property. Property is an investment, and to make a smart one you need to know what you're investing in, both now and in the future. It can be easy to believe you can get by with your own inspection along with any details given to you by the seller's agent. However, if you want peace of mind it's worth investing in an independent and professional opinion.
The building inspection report focuses on the construction of the property. A professional performs checks to find any serious structural issues like movement (cracking) in the walls and faulty roofs. A pest inspection report will tell you if the property is housing any damaging critters, such as termites.
So why should you get one?
1. Prevention rather than cure
Having a professional on your side can save you from time-consuming and costly repairs or renovation down the track. While the building may look fine to you, a building inspector will be able to tell you about flaws that may require expensive repairs down the track.
2. Negotiate from the drivers seat
Having all the information about a property is invaluable, and puts you in the best position for bidding and negotiation. Perhaps the seller has never had an independent inspection done, or maybe they're not letting on about something they know will drive the price down. It's up to you to get this information, and once you have an accurate picture as to the condition of the house, you're in the driving seat. You're free to walk if there are any major issues, or you can stay and negotiate a discount or have the vendor fix the problem before you buy.
3. Safety first
Regardless of whether you're planning to live in your new property, or rent it out to others, you want your new buy to be safe one. A thorough report will alert you to the presence of any dangerous faults like poorly constructed balconies or balustrades that could cause an accident. A building and pest inspection is a small upfront cost in return for long-term peace of mind and investment security. With the report you can rest assured that you have made a smart and informed decision. Then you can get on with celebrating buying your dream property.
Before You Bid helps potential buyers save time and money on independent property reports. Find out more at www.beforeyoubid.com.au