When you are purchasing an apartment, it may seem to be in excellent shape. However, that isn’t always indicative of the condition of the structure in which your apartment is housed. For example, if any cracks appear in ground floor apartments in the building, you too would have to contribute an equal amount to fix the structural damage, even if your apartment happens to be on the second floor. Read on to learn more on how a housing inspection can save you money and trouble.
Today, many people are choosing to buy apartments rather than build houses, and the trend is to purchase “off the plan”. In cities like Sydney, there also a number of older apartments being put up for sale. This makes it extremely important for people to check the quality of the actual apartment, and be aware of the overall building condition as well. The latter can have a significant impact on your financial situation in the future.
Today, an increasing number of people buying apartments are choosing to get pre-purchase housing inspections done. Most realise that once they have signed on the dotted line, not only are they responsible for the condition of their own apartment, but all the common spaces of the structure too. This is why it becomes important for you to conduct a detailed check on the maintenance plan for that property as well as the Sinking Fund.
It isn’t uncommon for some owners to put up their apartments for sale if they suspect they might have to shell out a large amount of money on a future repair bill. Individuals considering buying older apartments to live in or as an investment need to be wary of potential faults in the structure. Problems such as electrical faults, cracks, termites, rising damp etc. can be equally present in old as well as new apartment buildings. Market statistics indicate that at least one in three houses on the market have at least one major problem.
It is far easier to fix faults in a house rather than an apartment building or block of flats that may throw repairs on multiple, individually-owned properties. This makes a professional building inspection a very vital aspect. Some of the commonest faults that come to light during these inspections include:
As you can see, there are a number of different problems that might exist in an apartment structure, especially in older buildings. This makes it important for prospective buyers to look beyond new carpeting and fresh paint before they make sign the agreement.
If you are considering purchasing an apartment, you should:
If you want to know more about our services here at Inspect It First, don’t hesitate to call us at 1300 557 047 or contact us through our contact form and we will revert shortly.
Thanks for reading,
Inspect It First Team
1300 557 047