It’s not easy to find a house you like in every respect; and so after an extensive and tedious search when you finally think you have found your dream home; you just keep your fingers crossed and hope that everything is okay with it. However, a home represents a major financial investment and isn’t a decision you can take lightly.
Just as you ensure that all the ownership papers and other technicalities are in place you also need to assess the structural integrity of the house. Getting a building inspection done by a certified and licensed professional is one way to have peace of mind that you are investing in a structurally sound property. Structural problems can be prohibitively expensive to fix and cause a lot of hassle as well, so it’s best to cover all your bases before signing on the dotted line.
What does a building inspection involve?
Pre-purchase building and pest inspections need to be carried out before you are committed to the property and sign the contract. A comprehensive building inspection report will make mention of the condition of various features such as:
- Roofing and guttering
- Ceilings and walls
- Doors and windows
- Electrical installations
- Retaining walls
- Illegal renovations & remodels/additions/extensions
Most well-established building inspection companies also provide pest inspection solutions. This assesses the property for termite and other pest-related damage, most of which isn’t evident in a cursory visual inspection.
Building inspections – the costs involved
Prospective homeowners have to be careful with their expenses as every penny needs to be put towards their new home purchase. And sometimes they wonder whether a building and pest inspection is really necessary. But the fact is while these inspections aren’t exactly cheap, the benefits of getting them done far outweigh the amount you pay for them. Let’s look at the building inspection costs in detail below.
There is no fixed rate for a building inspection. The amount you pay will be dependent on the spread of the property and the structural elements that have to be inspected. However, the average costs of a pre-purchase building inspection could be as follows:
- Small property – $200-$300
- Average sized house (regional area) – $400-$500
- Average sized house (metropolitan area) – $800-$1000
A pest inspection isn’t as extensive as a building inspection and can cost in the range of $100-$150.
Note: These are indicative costs and the actual amount you pay will depend on the company you hire for the job and your location. The prices are also subject to market fluctuations.
It’s not feasible or even necessary to get a building and pest inspection for every property you look at and like. It’s best to wait till you find a house you are really impressed with before you pay for an inspection. Even if some faults come to light, assess the cost of fixing them and consider whether it’s something you would want to do if you purchase the property.
You can then use the findings from the inspection report as leverage to negotiate a lower price. If the structure has major faults, its best to just give that property a miss and look for one without similar problems.
Hire the right building inspection professional
Before hiring a building inspector, get quotes from multiple inspectors and compare them on the basis of inclusions and exclusions. Ask the inspectors for referrals and make it a point to call some of the previous clients to understand what the level of service and reliability has been and then make your choice.
Thanks for reading,
Inspect It First Team
1300 557 047