It doesn’t matter whether you are buying a property to live in, flip, or rent. The truth is that it will always be a sizeable investment and, with that investment, comes risk. After all, the property may look fantastic and cheap to remodel. But, if you find a list of unexpected issues you can quickly see your budget going through the roof.
That’s why it’s essential that you have the property inspected before you purchase. It will ensure you are aware of all the issues and can renegotiate if necessary. You should note that this is still relevant when purchasing a new build, it should reach the desired standard. If it doesn’t then you’ll want to speak to a specialist in the security of payments act NSW to rectify the issue with the builder.
What The Home Inspection Includes
You should note that a home inspection doesn’t cover every single detail of the property. It’s important to know what it does cover. This will help you understand the condition of your property and whether it is worth investigating any aspects further.
The home inspection will look at the condition of the roof to assess whether it is sound, damaged, and how much insulation is present.
They will then look at the outside walls to check if there are any cracks or other visible damage. You should note that an inspector doesn’t just rely on their eyes. They have an array of equipment that can be used to ensure the property is structurally sound. Cracks are a potential indication of movement which could be a serious issue.
An inspector will also inspect the inside walls and any basement for signs of cracks and movement. If possible they will also look under the floor in the crawl space.
A home inspection report will highlight any wood damage, such as that caused by termites. It will also inform you about any lead paint or asbestos present, although this is normally only an issue in older houses.
The aim of the home inspection is to confirm the property is structurally sound and free of hazardous materials.
Items Not Checked
You should note that a home inspector cannot damage the property. That means they can only inspect what they can see. It’s important to note that damage may be hidden.
Alongside this, a property inspection will not check the electrics or plumbing, it’s a good idea to get an independent inspection of these. They also won’t check that the fireplace is functioning properly, that any fitted alarm work, or that there are no issues with the swimming pool.
Remember, a property inspection simply tells you about structural issues and potentially hazardous material. If you want more detailed checks on specific items within the property then most property inspectors will be happy to do this, for an extra fee. If not, you’ll be able to find a specialist to do it for you.
Considering the cost of purchasing a home it is better to have as many facts as possible before you buy.