Purchasing a house is arguably the most expensive investment you'll make. As much as you'd like the whole experience to be straightforward and hassle-free, it often isn't. It's an exciting time, yet full of gambles and risks.
One of the biggest potential risks when buying a property is ending up with a lemon - a house that looks great on the surface but is riddled with hidden problems that end up costing you a fortune to fix. This is where building inspection reports come in handy.
A Melbourne building inspection report is a document compiled by a professional building inspector detailing a property's condition. It covers everything from the house's structural integrity to the condition of the plumbing and electrical systems.
This report is undoubtedly an invaluable tool for buyers, as it gives them an unbiased assessment of the property's condition. It can help you avoid making a costly mistake or give you some leverage when negotiating the property price.
Just keep in mind that building inspections Melbourne do not guarantee that the property is free of all problems. It's simply a snapshot of the property's condition during an inspection.
A building inspection is usually required when purchasing a property, although it's not always the case. Sometimes, the lender may require it as part of the loan approval process. In other cases, the buyer may request one themselves.
If you're planning to get a building inspection report, do so early in the process. This way, you'll have plenty of time to review the report and make an informed decision about whether or not to proceed with the purchase.
You should also make sure to use a reputable and experienced building inspector. Ask for recommendations from family and friends or look for online reviews. Once you've found a few inspectors you're considering, ask them for quotes and compare the cost of their services.
Once you've decided to go ahead with building inspections Melbourne, the next step is to schedule an appointment with the inspector. They will visit the property at a mutually convenient time and conduct a thorough examination.
The inspection usually takes around 2-3 hours, although this will depend on the size and complexity of the property. Once it's finished, the inspector will compile a report detailing their findings.
This report will cover a wide range of topics, including the following
1 - Defects in the structure of the building
One of the first things the Melbourne building inspection report will cover is any defects in the structure of the building. This includes cracks in the foundation or walls, issues with the framing, and problems with the roof. It's a comprehensive list, but it's important to remember that not all of these defects will be serious.
2 - Problems with the plumbing system
The inspector will also check for issues with the property's plumbing system. But because the inspector isn't a licensed plumber, anything listed in the report about plumbing and drainage is merely observations. It's up to the would-be buyer to decide if they want to get a professional opinion from a licensed plumber.
3 - Electrical system issues
Melbourne building inspections will also check the property's electrical system for potential problems. Again, because the inspector isn't a licensed electrician, anything included in the report about the electrical system should be considered an observation only. A licensed electrician may be called upon to provide a more definitive assessment.
4 - Pest and vermin infestation
The inspector will also look for any evidence of pest or vermin infestation. This is particularly important in older properties, as pests can cause serious damage to the structure of the building if left unchecked. A separate pest inspection report may be furnished upon the buyer's request.
5 - Building code violations
Another item on the building inspections Melbourne is building code violations. These are instances where the property doesn't meet the minimum standards set by the local building code. But do note that not all building code violations are serious, but some can be. The buyer will need to decide if they're willing to take on the responsibility of bringing the property up to code or if they'd rather walk away from the deal.
6 - Health and safety hazards
Finally, the report will highlight any health and safety hazards observed during the inspection. This could include things like asbestos or lead paint. Of course, not every property will have these hazards, but it's still important to be aware of them.
While it's true that building inspections Melbourne aren't required, it's still highly recommended. It's a valuable tool that can help the buyer to make an informed decision about whether or not to proceed with a purchase. With that said, the report is only as good as the inspector who prepared it. Hence, the one performing the inspection and furnishing the report must be competent.
Remember that a building inspection report is simply an objective assessment of the property's condition during the inspection. It is not guaranteed that everything listed in the report will still be an issue when you purchase the property.
No law requires you to commission a building inspection as a buyer, but common sense tells you it's worth your effort, money, and time. Without a professional assessment of the property's condition, you could be moving into a house full of surprises - most of which are things you never wanted in the first place. But with a building inspection, you minimize the chances of that happening.
Moreover, building inspections Melbourne can also be used as a bargaining tool during negotiations. If defects or code violations are listed in the report, you could use that information to try and get a lower purchase price. Meanwhile, the seller can also attest that the property is in the best condition possible through the report.