Purchasing a house is the biggest investment and the most important decision for anyone. It is a hysterical time as there are many daunting but necessary decisions are to be made. Any wrong decision may throw the family into lifelong miseries as it is about the lifetime savings of the family.
One of the difficult things is to find out the quality and soundness of the building itself. Beautiful facade, freshly painted walls, and the sweet-talking real agent could be hiding serious building defects underneath. This is where a professional building inspection can save you from making the wrong decision. A building inspection is a technical inspection of a building and provides you with a written report about the hidden, present, and potential defects in the building.
Here are 7 must reason to have a building inspection done before making the final deal:
- Safety of family: Family is important for everyone and that why we buy a house to keep them comfortable. But do you know there can be defects in houses that can cause health and safety risks to your family members? A loose safety railing or damaged building structure could convert your dream home into a fatal nightmare. An expert building inspector identifies these health and safety defects and protects your family from potentially fatal accidents.
- Protect your investment — Property is always the biggest investment for any family and if anything goes wrong with this investment, the future of the whole family sinks with it. Research shows that almost 100% of buildings have building defects where 1 in every 20 apartment buyer have to fork out above $50,000 to fix the building defects in their newly purchased property and 1 in every 20 house buyers have to spend above $20,000 to repair building defects in their new house*. A simple leakage in one bathroom can easily cost up to $15,000 to fix. So building inspection can protect you and your family from these financial pits.
- Illegal Modification: Building inspection can protect you from the nasty legal battle with administrative departments, councils, and other stakeholders. Many house owners carry out illegal modifications or extensions in their houses. First, a buyer pays extra for these appealing modification then fight costly and nasty legal battle with governing agencies to protect these illegal extensions. The homeowner has to either face heavy penalties or get an illegal extension demolished at their own expense.
- Negotiation Leverage: Building Inspection report contains all the defects and acts as a great negotiation tool. The buyer can negotiate the repair cost with the seller or alternatively ask the seller to get the building defects fixed. On the other, without a building inspection report, the buyer does not have any solid ground to negotiate with the seller.
5) Future cost: The building inspection report details out all the present, hidden, and potential defects in a house. This report can help you to calculate the total cost to fix these defects and determine the total future cost of the property. Buyers can also prioritize which defects need immediate attention and which defects can wait to plan out the budget.
6) Time-saving: Many families are too busy in their profession and cannot afford time off their work to fix building defects. These families are looking for a property that does not need any kind of fixing and is ready to move in. A building inspector minutely scans every inch of the property for any defects and certify if the property needs any repair or not. Also, the inspection report list out all the defects which can help you to calculate the total time required to get those defects fixed. This helps the buyer to plan out the future plan.
7) Discover deal-breaker: Building inspection reports can help you to make the final decision for the purchase of the property. The building may have minor and major defects. Minor defects can be ignored or get repaired later on. But there could be major defects like structure damage, major water leakage, old pest damage, etc in the building which can threaten very building itself. These major defects can cost up to hundreds of thousands of dollars and years of time to the new owner. Basically, building inspection provides you with all the information to make an educated final decision.
Whether you are a first home buyer or a seasoned property buyer, there is no way you can detect all the defects. A single missed defect can cost thousands of dollars and depletes all of your savings. A building inspector has the proper education, skills, tools, and experience to inspect a property. There can be many hidden defects under the fresh paint which only a trained building inspector can catch. This is a small investment that pays for its self many folds, so if you are buying a property then building inspection is a must.