The buying of a home is the single most significant financial transaction that the vast majority of people in Australia will ever be a part of in their lives. Whether it is a first home, moving into a new home, an investment property, or even a second residence, purchasing a home is an exciting and life-changing experience. You will have a pretty decent notion of your fixed costs such as loan fees, government charges, and the like, but it will be harder to foresee any kind of future issue that could end up making your financial position much more difficult regarding your property. A building and pest report can give you the peace of mind and information you need to know the choice you are making is the right one. If you are about to enter the market as a buyer or seller, looking to renovate, or even build, a building and pest report can provide the information you need to know.
Benefits of building and pest reports for purchasers
When deciding whether or not to buy a piece of property, having a report that details the condition of the building as well as any pest problems is really helpful. During the inspection, any existing problems with the property should be taken into account, and you should be provided with an estimate of the costs associated with fixing any of these problems. This gives you the ability to “keep your eyes open” to the prospect of future expenses and, perhaps more crucially, gives you the chance to negotiate a lower price to allow for any future work that may be identified. Both of these benefits are extremely beneficial. A summary of the following items, if they are existent, should be included in a pre-purchase building report:
- Significant architectural flaws or flaws that have the potential to cause damage to the building.
- Flaws of a less significant nature, such as those of a cosmetic or maintenance nature (e.g broken tiles, leaking taps).
- Clear indications of the existence of pests, with a special focus on termites if they are present
- Photographic evidence of any flaws that have been found in the product.
In addition, acquiring financing for your investment may be made easier with the help of a pre-purchase inspection report. When deciding whether or not to grant you the necessary financing, certain financial institutions find the peace of mind offered by pre-purchase and pest inspections to be helpful.
Benefits of building and pest reports for vendors
Before putting your house up for sale, it is in your best interest to have a general understanding of the state the property is in so that you can price it appropriately and choose the degree to which you are willing to be flexible throughout the negotiating process. A pre listing or pre sale inspection will arm you with the knowledge you need to negotiate fairly and accurately. Keeping in mind that it is generally accepted as a wise practise for a buyer to have an independent assessment carried out for the home, a pre listing or pre sale inspection will provide you with the information you need. As is the case with any transaction involving significant stakes, talks can be difficult since both sides are looking for the best possible conclusion.
A head’s up gives one an advantage. It is to your advantage in a variety of different ways to be fully informed about the state of the item you are selling. It is able to uncover issues that can be quickly fixed, saving you the inconvenience of a buyer using those issues as a bargaining chip to get a lower price. If you are aware of the actual state of your home, it will be easier to sell it quickly and there will be less need for tiresome back-and-forth debates regarding any problems that are discovered. The information that is gathered during a pre-listing inspection can also be helpful in any promotion or marketing efforts that are undertaken for your property.
Is it always necessary to have a building and pest report?
In extremely unusual circumstances, a building and pest inspection might not be required. This happens the majority of the time when the property is purchased with the intention of performing a “knockdown rebuild” (KDR). It is likely that you will not be obliged to get an inspection if you plan to perform significant structural modifications as part of your extensive renovations. If you have any questions about what may or may not be required, an independent licenced building inspector will be happy to provide guidance and answer any questions you may have. Communicating with your architect or builder should be enough to clear things up for you.
Alternately, you may be considering renovations to your existing property. Depending on the size and scope of your plans a building and pest inspection can re-assure you that you won’t be uncovering work needed over and above what you are hoping to achieve as well as keeping your plans in check with local regulations.
A building and pest report is Vital for your peace of mind
Simply put, if you are involved in any kind of property transaction, the staff at Vital Building Inspections Sydney can provide the information you need in a manner that is clear and straightforward, which will assist you in making the best decision possible. You can have entire faith in their vast choice of report alternatives to discover problems and give you the best idea of what is required for repair because they have over 18 years of expertise working in the field and are assisted by the latest in inspection technology.
They have a saying that goes, “for peace of mind, it’s VITAL.” Contact us immediately to discuss your building inspection requirements. We service all of Sydney’s local government areas. You may get a price estimate by calling at 0401 012 074, sending us an email at support@vitalbuildinginspection.com.au , or submitting this contact form.
