As a buyer with no prior experience, the first set of things you’ll likely be fascinated by when you see a building you’re about to purchase is the beautiful backyard, the stunning kitchen and the charming neighbourhood as well.
But before you sign on the dotted line, there’s one crucial step you absolutely shouldn’t skip, and that’s a building inspection. In fact, this might just be the most important move you make in the entire home-buying process.
What Exactly is a Building Inspection?
A building inspection is a thorough assessment carried out by a qualified professional, typically a licensed building inspector. Their job is to assess the overall condition of the property, looking beyond what the eye can see. They dig into the details you might miss, and frankly, things you wouldn’t even know to look for. And they don’t just walk through the home and point at obvious problems. What they do is inspect everything, from the roof to the foundation, and everything in between.
These professionals will be sure to check for structural defects, hidden leaks, foundation issues, termite damage, electrical faults, and much more. The procedure is not a quick walk-through at all; it is an in-depth process, with detailed reports outlining what’s great, what’s not-so-great, and what might need urgent attention.
An inspector familiar with Australian homes and our local environment will know exactly what to look for.
Also, the rules and standards for building inspections in Australia are strict. You want to ensure that your inspector is licensed and follows the Australian Standard (AS 4349.1-2007). This guarantees that they’ll be checking all the right areas and delivering a thorough and reliable report.
Why is It So Important?
You might be thinking, “Isn’t a building inspection just another added cost?” Well, yes, it is an expense. But think of it as an investment, one that can save you tens of thousands of dollars in the long run. Here’s why:
Hidden Defects
When you walk through a property, everything might look pristine. Freshly painted walls, new carpets, and sparkling countertops can make any place look perfect on the surface.
But what about underneath? Are there cracks in the foundation, dodgy wiring, or signs of pest infestation lurking where you can’t see? A building inspector’s trained eye will catch these potential nightmares, giving you the full picture of what you’re actually buying. And honestly, it’s better to find out now than later, after you’ve moved in and the problems become your responsibility.
Negotiation Power
A building inspection report is also a powerful tool for negotiation with the seller. Say the inspection uncovers that the roof needs replacing or there’s significant termite damage. You can use this information to either negotiate a lower purchase price or request that the seller fixes these issues before finalising the sale.
Without an inspection, you would have had no idea these problems even existed, and you’d be stuck paying for repairs down the road.
Ensuring Safety
It’s not just about the money, though. A building inspection also ensures the property is safe for you and your family. Faulty wiring, structural instability or asbestos are all serious hazards that could put your loved ones at risk.
If you know about these dangers upfront, you will be able to make an informed decision about whether you’re willing to take on the associated costs and risks.
Avoiding Future Expenses
You certainly must have heard stories of homebuyers who move in only to discover they need to fork out thousands of dollars in repairs. That’s the sort of stress nobody needs.
A professional inspection helps you avoid nasty surprises like crumbling foundations or faulty plumbing that could cost you a fortune down the road. You’ll be able to plan for any necessary repairs or even decide whether the property is worth the investment in the first place.
What Happens After the Inspection?
After the inspection is done, you’ll receive a detailed report. This report will outline any issues found, give you an idea of how serious they are, and provide estimates on the cost of repairs. This is your opportunity to sit down, go through everything, and decide whether the property is still the right fit for you.
If major problems are found, you have a few options. You can negotiate with the seller to fix the issues before you buy, ask for a reduction in price to cover the repair costs or even walk away from the deal altogether if the problems are too significant for you to handle.