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Buying a House: Do I Need a Property Inspection?

Do I Need a Property Inspection? With Money Compare

You have found the home of your dreams. It’s gotten the warm fuzzy feeling flowing and gets you excited to make lots of new memories in this space. You are ready to make an offer! 

But not so fast! Have you had a pre-purchase property inspection? While you may love the hardwood floors and the sunshine pouring into the living room, there may be issues that your eyes are just not necessarily trained to spot. A professional property inspection can help find wear and tear, and any issues before you go to sign any papers, so that you are fully aware of the condition of the property and of any repairs that may need to be done. 

Still not convinced? Here are our top 4 reasons why you should absolutely get the property professionally inspected before putting in an offer. 

1. Determine Structure Integrity

While it is unlikely that a house on the market is about to collapse, you simply don’t want to run the risk. A residential building inspector can determine the structural integrity and soundness of the house by checking for any defects such as: 

  • Rotting beams
  • Rust on roofs
  • Cracked walls
  • Dampness

2. Estimate Repair Costs

Your inspector can help determine the costs of repairs, if there are any. It’s important to remember that when you invest in a home, there are going to be costs involved in maintenance and repairs. If your inspector finds any defects, they can provide an estimate of the repair costs. You can either have these defects repaired before you purchase the home, or use them as negotiations for the sale price. 

3. Determine Safety Issues

You want the home you’ll be living in to be safe and sturdy, able to withstand the tests of earthquakes and storms. The pre-purchase property inspection can help determine how safe the home will be for your family to live in. The inspector can determine if there are any fire or electrical hazards, or dangerous substances in the property such as asbestos or unhealthy mould. 

4. Other Structures

A professional inspector can not only inspect the house itself, but also other parts of the property. For example, they can inspect the integrity of the garage, shed, driveway, deck, patio and fencing. These parts of the property are all important, and you don’t want to wind up with a disappointing and unexpected issue 6 months down the road. 

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If you are in the early stages of the home buying process, we implore you to jump on Money Compare to take advantage of our comparison tools, educational content, and our industry expert partnerships. Compare home loans to ensure you are making a fully informed choice and that you are getting the best deal possible. 

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If you have any questions about home loans and mortgages, we have partnered with industry leading experts to help you with free advice. Simply request a free call back by clicking the button below and a fully qualified advisor will be in touch. They can help with any home loan or mortgage questions.

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Further Reading: 

Why Do I Need Pre-Approval?

Factors to Consider When Choosing the Perfect Neighbourhood

Tuesday, 22 October 2024