Your home is possibly the most valuable asset you will ever own. So it’s worth taking precautions to help ensure you buy a place that has a clean bill of health, free from budget-busting hidden nasties.
Even the most attractive homes can hide unwanted surprises, and it’s not always easy to spot a problem property.
Arranging a pre-purchase pest and building inspection gets a professional on the case to possibly reveal any dodgy or deteriorating building work or hard-to-spot pest infestations.
It can help you avoid unplanned repair bills and/or provide a red flag that you’re looking at a property with the potential to turn your home-buying dream into a costly nightmare.
A pre-purchase building inspection involves a qualified person, often a licensed builder, physically inspecting a property to check for serious defects such as faulty footings or rising damp, which can be expensive to fix.
You can organise a building inspection in isolation, or for a small extra cost you can often add in a pest inspection. This can help alert you to whether or not you’ll be sharing the home with a variety of destructive creepy crawlies such as borers or termites.
Experts say common faults and defects picked up by pest and building reports include active termite infestations, construction faults and the need for plumbing and wiring to be replaced due to safety concerns.
These sorts of issues can leave a buyer facing substantial – and often unplanned for – expenses once they take ownership of the property.
Buying a home often brings a raft of upfront costs, and it can be tempting to cut back where possible.
But a pre-purchase pest and building inspection is one expense you probably don’t want to sidestep.
Exactly how much you pay will depend on the service you use and the size of the home.
As a guide, HiPages says a building inspection fee on average can range from about $200-$300 for a smaller property to $400-$500 for an average-sized house.
Add in a pest inspection, and you could be looking at around $100-$150 extra.
If a home gets the thumbs down after a pest/building inspection, it’s not necessarily the end of the world – especially if the property ticks plenty of other boxes for you.
You can use a pest and building report to try and negotiate a lower price.
The key is to be confident that any offer you make takes into account the cost of fixing any faults noted in the pre-purchase inspection. That can mean gathering quotes from builders and/or pest exterminators before you make a formal offer.
Alternatively, you may decide it’s not worth the risk, and start your home hunt afresh.
Talk to us for more information on the pre-purchase checks worth making before committing to buy a home. It could be the difference between buying a quality property versus a bricks and mortar lemon.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
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