If you’re looking to enter the property market or add to your portfolio, doing your homework is essential. If you don’t have building experience, knowing what to look for can become a bit of a guessing game, so getting some advice from the experts might be your best bet.
If you’re considering a professional inspection, here are some of the benefits you can expect.
Get a chance to look past the pretty façade
Chances are you haven’t found a property you love within the first week of searching. Most of us will spend many weekends travelling from inspection to inspection in search for that gem hidden in the property listings. It can be easy, then, to fall into the trap of falling in love with a property that finally shows a bit of potential.
Curb appeal, great storage, enough bedrooms, lots of space – all of these are great things to tick off when viewing a property. However, they’re not the only things to consider. An inspection lets you take a peek under that gorgeous styling and intricate design to look at the structural integrity of a home.
Make a choice between your favourite properties
If you have a couple of properties you are struggling between an inspection may be that final decision maker for you. As mentioned before, it shows you what’s underneath those pretty looks and can help you make an objective decision on which property is actually going to be the smartest investment for you.
Avoid an investment that will drain your savings
Buying a property is one of, if not the, biggest investment you are going to make in your life. So choosing poorly can end up costing you big. On top of mortgage payments, general upkeep, bills and rates, you could be left with a property that requires major costly repairs or pest control. That’s not exactly the best way to celebrate your new investment.
Inspections will provide you with a written report and photos of any problem areas that are of concern. These problems could include structural issues, dampness, safety hazards, pest infestations or even building code violations. With this information, you’ll be able to steer clear of money draining properties and stick with ones that are going to keep you happy for years to come.
Get extra negotiating power
Saving you money even further is the extra negotiation power you’ll have from being armed with the information an inspector provides. Outlining the repairs that are required or modifications that are needed and attaching your report could make a massive difference in the final number on the contact of sale.
Essentially, this one small fee for an inspection could be one of the best investments you’ll ever make.