When you've located your perfect home and are about to put in an offer, make sure you have a professional, independent building, pest and strata (for those buying an apartment) inspection.
Building inspections will usually cover things like:
Structural damage to the roof space.
Sub-floor ventilation and drainage.
Rising damp, asbestos and other hazards.
Damage or problems with gutters, windows, foundations, cracks.
Doors, ceilings, plumbing, electrical wiring.
Extensions, renovations, additions that do not meet regulations.
Pest inspections look out for things like:
Existing or potential damage from all kinds of pests.
The active presence of pests, like termites or white ants.
Strata inspections are only applicable to apartments/townhouses and they cover:
Ongoing maintenance fees and any special levies payable.
Rules and regulations set out by the Body Corporate/Owner's Corporation.
History of disputes or claims against the current owners.
The balance in the administrative and sinking funds.
Whether the insurance cover for the building is adequate.
What if problems are found?
You don't have to kiss your dream home goodbye if problems are identified in any of the reports. You could use the information to find out the cost of fixing any problems and negotiate a lower price through the real estate agent. But remember, if you don't organise inspections or don't take note of the findings it could cost you thousands of dollars in repairs that you didn't factor in to the price...and that could hurt.
Source: stgeorge.com.au
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