Your home is possibly the most valuable asset you will ever own. So it’s worth taking precautions to help ensure you buy a place that has a clean bill of health, free from budget-busting surprises.
When it comes to buying a home, it’s easy to get caught up in the excitement of finding the perfect space — whether it’s a cozy cottage or a sprawling family home. But remember, buying a home is one of the largest financial commitments you’ll ever make, so you want to ensure you’re investing in a property that won’t end up draining your bank account with hidden issues.
Arranging a pre-purchase pest and building inspection gets a professional on the case to possibly reveal any dodgy or deteriorating building work or hard-to-spot pest infestations.
What does a pest and building inspection involve?
A pest and building inspection is a comprehensive assessment conducted by licensed professionals to evaluate the overall condition of a property. Whether you’re buying or selling a home, this type of inspection is crucial to uncover hidden problems that could potentially turn into costly repairs or safety hazards in the future.
You can organise a building inspection in isolation, or for a small extra cost you can often add in a pest inspection. This can help alert you to whether or not you’ll be sharing the home with a variety of destructive creepy crawlies such as borers or termites.
Experts say common faults and defects picked up by pest and building reports include active termite infestations, construction faults and the need for plumbing and wiring to be replaced due to safety concerns. These sorts of issues can leave a buyer facing substantial – and often unplanned – expenses once they take ownership of the property.
How much does a pest and building inspection cost?
Buying a home often brings a raft of upfront costs, and it can be tempting to cut back where possible. But a pre-purchase pest and building inspection is one expense you probably don’t want to sidestep. Exactly how much you pay will depend on the service you use and the size of the home.
As a guide, HiPages says a building inspection fee on average can range from about $200-$300 for a smaller property to $400-$500 for an average-sized house. Add in a pest inspection, and you could be looking at around $100-$150 extra.
What if the property gets a bad pest/building report?
If a home gets the thumbs down after a pest/building inspection, it’s not necessarily the end of the world – especially if the property ticks plenty of other boxes for you. You can use a pest and building report to try and negotiate a lower price. The key is to be confident that any offer you make takes into account the cost of fixing any faults noted in the pre-purchase inspection. That can mean gathering quotes from builders and/or pest exterminators before you make a formal offer. Alternatively, you may decide it’s not worth the risk, and start your home hunt afresh.
Talk to us for more information on the pre-purchase checks worth making before committing to buy a home. It could be the difference between buying a quality property versus a bricks and mortar lemon.
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