Having pest and building inspections are not essential when applying for finances, however, these inspections will help you know what you’re buying.

Think about it. When you buy a car, generally, you take it for a test drive and you may even have a mechanic look it over before you buy the vehicle. You want to be sure you’re getting what the description says; while the car looks buffed and polished on the outside, underneath the bonnet might not be so good.

The same basic checks should apply when buying a property. After all, buying a home or a property for investment purposes are probably some of the biggest financial commitments you’ll ever make, so you want to be sure your purchase hasn’t got any hidden defects.

Here are three reasons why you should have building and pest inspections:

Help with the negotiation process

When you are putting in an offer on the house, you can make building and pest inspections a condition of your offer. If the pest and building inspections reveal some issues, you can use these to your advantage in the negotiation process.

You may opt to ask for a reduction in price or ask for the work to be done before you hand over the money. In some cases, you may choose to walk away from a purchase if the inspection reveals some really costly issues.

Save money in the long run

Major structural issues or tiny little insects living in the building can be costly to put right. Indeed, Robert Caulfield, architect and director of Archicentre (the building design, inspection and advice service of the Australian Institute of Architects) recently told one media outlet the average treatment and repair cost after a termite attack is estimated to be in the order of $10,000.*

Common defects building inspections reveal include cracking in ceiling cornices and wall junctions, showers leaking into the surrounding walls and cracked roof tiles. These too can be expensive to put right.

So spending a little bit of money up front in the first place may save you money, as well as heartache and pain, later down the track.

Ongoing checks

Some reports state as many as 1 in 4 properties in Australia are affected by termites in their lifetime, so it is vitally important you have your home or investment property inspected annually by a pest inspector. This means if white ants do decide to attack your property, their presence is picked up early and any damage is limited.

In addition, it’s worth checking your building insurance, as some policies don’t actually cover termite damage, so it’s you who will need to foot the bill.

Building and pest inspection reports start from a few hundred dollars, but remember you get what you pay for. The cheaper ones may not be as thorough and always make sure you use an authorised and accredited licensed building and pest inspector.

When it comes to property, we have a wealth of knowledge and experience behind us – in fact over 40 years worth, so it makes us one of Newcastle’s longest established real estate offices!

If you want to know more about buying or selling property, or you’re interested in the many benefits of our property management services, give us a call on 02 4954 8833, send us an email to mail@newcastlepropertymanagement.com.au or pop into our Cardiff office for a chat.

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* http://www.dailytelegraph.com.au/newslocal/central-coast/architect-body-says-termite-is-a-silent-eater-that-causes-massive-damages/news-story/578e429580158fee99960c92aca41a52