Purchasing a home or investment property is one of the biggest investments you may ever make. Having building and pest inspection could help you prevent your structure from crumbling down because of little invaders.
Why a Building and Pest Inspection is Essential?
Termites are annoying little pests that are usually unnoticeable for months or even years. It wrecks the property’s foundation before you find out that they’re even there. The average repair cost for termite damage to a house is $5,000 to $7,000. Some even pay tens of thousands of dollars to set right the termite problem.
At the same time, structural issues can cause significant financial headaches. In fact, building issues can be present in both old and new homes. So, when you’re planning to buy, it’s sensible to have a building and pest inspection by an expert as a crucial part of your due diligence process.
Building and Pest Inspection for Old and New Homes
Building and Pest Inspection for Older Homes
All houses should conform to the Building Codes and Standard of Australia. If the home doesn’t meet the code, then it’s up to you to make it up.
Property inspectors will check for structural issues in older homes. This is important as the unsound structure could be costly to repair and replacement of structural components could mean total property renovation.
Upon receiving the building inspection report, you may notice that there some minor things you’ll need to repair, replace, or remove like trees near the building. So, knowing the costs of this upfront is crucial.
An electrical inspection will also check the current electrical wiring and smoke alarms to ensure that all are in working order and that you’ll not experience any fires caused by faulty wiring. If there’s fire, having functioning smoke alarms are essential and could save lives – so make sure yours are working properly.
Older homes are more likely to have asbestos and other unsafe materials, which can cause harm if your family is exposed. Another is the risk of termite infestation and associated costs with it. Moreover, there could be several things that could go wrong with a building given the complex number of elements involved in the construction. This happens most especially with older properties.
Building and Pest Inspection for New Homes
It makes sense to get building and pest inspection for older homes, but how about new homes?
A brand new-home should most definitely be up to code. That said, it might be only just up to code. Imagine a building supervisor working for a high-volume builder. Because of several constructions, he might oversee some things as he may not have enough time to pay attention to the details that they should.
Some issues we’ve seen in new homes include water damage due to improper waterproofing, roof placements, or incorrect installation of insulation, which cause severe structural issues.
The advantage of building and pest inspection is that the inspector can check up on these issues and ensure you avoid any potential risks when buying new. Some things may not be an urgent concern, but a tree planted too close to you can cause several issues. Alerting you now means you can resolve it before it turns into a costly and time-consuming problem.
When Should You Get a Building and Pest Inspection?
Building and pest inspection should be done before entering into a contract. No matter how fast-moving the market or property is, you should be doing this to make sure you’re having a worthy purchase.
Moreover, it’s also important to make sure that the condition of the contract and the clause wording is in your favour. This is where you want to get a conveyancer/solicitor to help you with the wording because you want to ensure the building and pest inspection is done satisfactorily and not some minor clause that gives the seller very little scope to let you out of the contract. You want to protect yourself and ensure that the right wording is the topmost priority.
Choose Independent Building and Pest Inspection
It’s important to have an independent building and pest inspection. In some cases, the owner or the real estate agent had got one inspector with them and making them available to prospective purchasers.
While it could be free, it’s important to spend the money and hire your own independent building and pest inspection. Doing so will give you peace of mind because you know everything will be disclosed so you can decide whether to buy that property or not.
In terms of material, it’s important to realize that a building inspector should tell you everything that’s wrong. You also need to discern between what’s material or non-material in nature. An example of material is the termites all over the joint or the place is going to fall down. This is one of the reasons why you wouldn’t want to proceed to buy it. But a leaking faucet or a crack in the floor tile is not a deal-breaker. However, this could be some leverage to help you negotiate for better prices.
If you’re buying a newly constructed house, you should have high expectations and what you should be getting because everything’s brand new. However, if you’re buying an old property, be realistic. If it’s around 20, 50, or 100 years, something’s probably is going wrong. This is why it’s important to know what’s material and non-material when reading reports on the building and pest inspection that you get from inspectors.
How Can Building and Pest Inspection Help Both Sides?
Effective Building and Consultancy note that a building and pest inspection is something that can help both parties when it comes to negotiation.
As a seller, you can use this as a tool to give your buyer peace of mind, especially if a professional building and pest inspector carries this out.
If you’re the buyer, it can make you aware whether the property is a good buy or may come with risks that are something for you to consider and decide. It’s like buying a second-hand car; you would have a mechanic to check the car before purchasing.
For an investment of a few hundred dollars, a combined inspection will cost you around $300-$600. In this amount, you will not only gain peace of mind but also help you understand some relevant information that will help you with purchase price negotiation.
A Real-Life Story on How We Helped a First-Time Property Owner
Alexa from Barangaroo bought a three-bedroom house earlier this year, 2021. She made an offer, and it was accepted. However, the report revealed current termite damage in a tree stump and previous termite damage in the bedroom ceiling.
The building report also noted some evidence of water leakage in the laundry area. A quick phone conversation with the building and pest inspectors confirmed that the issues weren’t much of a concern and were common in buildings of that age.
As a result of the reports, however, Alexa was able to negotiate a full termite treatment plan, remove the infected tree stump, and laundry area repairs. To sum up, work to the value of $3,000 was carried out on the property, with the seller paid up.
Alexa said that getting a building and pest inspection was the best decision she made. In her opinion, it’s completely worth the money. At first, she only did it because her mortgage broker suggested it, but now, she’s convinced – they’re really worth it.
Final Thoughts on Building and Pest Inspection
Effective Building & Consultancy understands that getting a building and pest inspection is critical. Hence, we are happy to introduce our team of building inspectors reputable and have been in the industry for more than 20 years.
There is a lot to think about and cover. This is why it is important to have a combined inspection prior to the home buying process. It will safeguard and arm you with all the information to make an informed decision.
Know that these things are important before putting a final offer on the property or for when you go to bid at auction.
For more information about building and pest inspection, visit our Help Centre.