Buying a property is a big investment whether you are going to live in it or rent it out. It's important to know as much as you can about the building as you can.
While on the surface, the property may seem to be a great buy, what lies beneath is equally important to know. You want the new home or apartment to remain an investment and not an ongoing expense.
The best way to discover everything about the intended purchase is to arrange a pre-purchase building and pest report.
What Is A Pre-Purchase Property Inspection Report?
As the name suggests, it's a report you get in writing on the condition of the property BEFORE you buy.
Amongst other things it'll tell you about cracks in walls, moving foundations, rising damp or perhaps a leaky roof. All things that could be very expensive for you once you own the property.
While there maybe evidence of damage caused by timber eating pests like termites, a building inspection usually only covers structural information on the property. It would be advisable to get a separate pest report.
But Why Do You Need One?
Put simply, you need to know what potential expenses you might be up for once you own the property.
Fully armed, you'll be better equipped to negotiate the price being offered if you know the roof needs replacing for example. The extent of such work may cause you to pull out of the negotiation all together during the cooling-off period; 5 business days after both parties have signed the contract.
What Normally Goes Into A Report
Generally, you need to know about:
· the exterior of the building
· the interior of the building
· the under roof area
· under floor areas including wet and dry areas
· foundations on the site
If the building is old, make sure your building inspector checks for asbestos. Removal of asbestos is specialised work, dangerous and expensive. You don't want to be paying for this.
Safety is another criteria to consider. Ensure the property has an electrical safety switch and up to date smoke alarms. These items are mandatory in Queensland and the laws are constantly being updated. Get a professional who is across the latest laws.
Don't Let The Pests Eat Away Your Home
Is your new property home to insects, bugs, termites or dry rot? Hopefully not but only a true profession pest inspector can determine what's going on.
A pest inspector will be able to test for the existence of pests not seen by the naked eye. They will also check around the foundations of the property and under the roof.
How Much Does A Building And Pest Report Cost?
Depending on where you live costs can vary from $400-$500 up to $1000. Shop around or call our Property Management Department for our recommended local service providers.