8.4.2015 | 21:21
Whether you are purchasing a home as your primary residence or adding an investment property to your portfolio, the need to take precautions and do your due diligence is always necessary. In countries like Australia, where a large percentage of homes sold show some type of structural building issue, the importance of being safe cannot be stressed enough. After looking over a home and possibly even falling in love with everything about it, highlights a common scenario that lets some people slide in their decisions, allowing emotion to cloud their judgment. This is especially when one should be more careful and always get a pre-purchase inspection prior to doing anything drastic. Buying a home is a big decision so treat it that way.
The Importance Of Pre-Purchase Building And Pest Inspections
If you’re an investor and really know the local marketplace you are buying in, factoring in all the possible scenarios and knowing the values does put you at an advantage over just the casual buyer. That being said, even then you should still invest in a pre-purchase inspection since it will put you in the advantageous position of really knowing the property well. The modest investment you put in will pay many dividends later.
So what is the most obvious benefit here? A skilled inspector will thoroughly check the interior and exterior of the building, the subfloors that are easily accessible, the roof and attic, the garage structure and the surrounding fences or walls. The primary things they’d be looking for are the presence of any obvious and not so obvious defects in the building structure. Uncover if there are hidden cracks in the walls while also testing for the presence of asbestos. Electrical and plumbing are checked for obvious damage (not in detail though so be aware of this), but an inspector will dig into any drainage problems.
Noting if there are any dampness issues and the operation of ventilation systems are carefully examined. The conditions of the windows, carpets, and floors are all jotted down as well. Any areas that are not easily accessed are not inspected in a general package but other options like thermal imaging inspection can be added to see things one normally can’t.
A good option is to also add on pest inspection since this can adversely affect the value if an infestation of any kind is discovered. Wood rot and the presence of termites are particularly damaging so must be handled before anything else.
It should be obvious about the value of having a pre-inspection of a home. The comprehensive report will allow you to make an informed decision as well as have a great bargaining tool with the seller. Don’t purchase a home without one!