Top 3 Benefits of Building Inspection
There are countless benefits of building inspection and overweigh its price many folds.
When buying a new house, we all are looking forward to a happy and secure future for our family. It is an exciting time for a new beginning. Dealer explains all the fantastic aspects of the property. But, is that all?
Properties are way more than location, amenities, shining facades, and gleaming floors. There may be hidden building defects that may drain all of your savings and joy. A building inspection is a small but necessary step to provide you all the information about the condition of the property and help you make an informed decision. Following are the 3 top benefits of building inspection:
1. Learn About Property:
Very first benefit of building inspection is that you get learn about property. Right from searching a property on realstate.com.au or domain.com.au, you start getting information about the property like price, size, suburb profile, amenities, etc. The sweet talking real estate agent provides you some more information which is always positive. He will give you a property tour boasting about the fleshy facade and freshly painted walls. The things they are not forthcoming, are the problems in the building. Research shows that 100% of properties have defects that could be minor or major.
Building inspection provides you the opportunity to know the property before making any commitment. It reveals all the existing and any potential risks that may arise in the future.
The building inspector conducts thorough scanning of the building to record all the minor and major problems. The inspectors are trained and experienced to detect any defects even when there are efforts made to conceal them. So, learn about the property through detailed information provided in the building inspection report.
2. Secure the Future
Your today is the outcome of the decision of yesterday and your tomorrow will be the outcome of the decision of tomorrow. If you want a secure and happy future, then you must make the right decision today with precaution. Imagine yourself investing your life’s saving into a property only to find huge issues in the property(structure damage, water damage, footing movement, or termite infestation) which can cost a massive amount of money. Also, you do not want to spend your time chasing repairmen instead of spending time with your family in the new house.
Building inspection also informs you about a minor issue that may turn into major problems with time if left unattended. For example, small termite infestations will grow with time and damage any or every part of the building. Similarly, any internal water damage or external water penetration will turn into structural damage, termite infestation, and cracks in walls. With the help of building inspection reports, you learn about potential serious issues and address them in time. So building inspection helps you with real facts about the property and plan a future budget for issues.
So it is one of benefits of building Inspection is to gives you confidence in form of information to make a decision for a happy and secure future.
3. Tool for Negotiation
Your real estate agent will bend over backward to justify the price of the property but how you will know the right price.
A thorough inspection points out all the major issues that are not visible to naive property buyers. You can assess whether the property is worth buying or not. A list of defects can help you calculate the maintenance cost and hence the future cost.
Once you have an inspection report with major defects like termite infestation or water damage, then this gives you a valid reason to renegotiate the property price. You can show them the report with defects to prove your point.
You can re-negotiate the with the seller in 2 ways – asking them to get the defects fixed or to lower the price to cover the cost of the detects. If you are not happy with the new offer from the seller, then building inspection provides you an opportunity to pull out the contract under the “Subject to building inspection” clause.
Besides, above mentioned benefits of building inspection, it helps you in many other ways like peace of mind, planning future budget for the property, protect you from potential disaster, etc (for detailed list of benefits, click here>). It is a small precaution to avoid the need for a huge cure in the future. This small investment pays for itself in terms of the benefits it delivers. Building Inspection Council is a not-for-profit community service helping Australian property buyers. We provide free quotes from the pre-verified building inspectors in your area. As we are a not-for-profit organization, we do not compromise for profit and you are guaranteed to get honest and genuine quotes.
15 top building defects found during building Inspection According to research done by choice.com.au, the following are the 15 most common building defects found in
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