Once you’ve found the house of your dreams, before going ahead with the purchase, a building inspection is a crucial step before finalising the decision.
It’s important to keep in mind that the cost of inspection is a lot less than the cost of buying a house that may have defects. Despite that, many people still do not go ahead with it just to save a few hundred dollars. Given below are some of the reasons why a building inspection is essential.
To Identify Issues with the Building Structure
When buying, the property under consideration should be in line with the Building Codes and Standards of Australia. If you buy a commercial property or house that does not follow these standards, you will have to bear the cost of bringing the house in line with the code. By doing the inspection, you can easily identify these issues ahead of time and save yourself the financial and emotional stress in the future.
To Prepare a Budget for Repair and Maintenance
Sometimes, you can negotiate a discount on the purchase price if the property requires some repair and maintenance. However, it can cost you a lot more than you expect, because there can be hidden damage that you may not be aware of. You can also hire a professional to help you with your budget so that all relevant expenses are incorporated.
Assess the Electrical Wiring and Alarm System
Something easily overlooked is the electrical wiring and alarm system in place. Faulty wires can be very dangerous and lead to fire or electrocution.
On top of that, if smoke alarms are not working properly, these situations can be fatal or might result in severe injuries. By going through the inspection process, you will be able to spot these issues beforehand and save yourself from financial and physical harm.
To Assess External Structures
Although, the structure of the house is the key concern of a buyer, don’t forget about the external structures, including patio and sheds. Local councils often lay out the requirements related to where you should build these structures. If, however, you buy a house that did not follow those regulations, you may need to make changes or tear the structure down.
It is easier to opt out of the decision of going through the inspection process, but if you miss this step, you may have to incur substantial costs in the future that will add to your financial burden. On the other hand, if you undergo the inspection process, you can save the money that you would have to otherwise spend on expensive repairs in order to conform to the local state laws.