There is a certain parallel between buying a property and online dating. The photos are flattering, the listing has you sold on it, and then reality makes an entrance in muddy boots.
This is where pre purchase building inspections come into their own.
From the street a building may seem as solid as they come, but it can be harbouring issues that will put a dent in your finances. You might not spot faulty wiring, water damage or timber pests on a casual walk-through; a good layer of paint is a master at concealing things like poor workmanship or cracks.
An inspection is your chance to see what you are really putting your money down for before any contracts are made permanent. It is an independent look at the state of the place.
It is easy for buyers to get carried away with emotion. You step into the kitchen and have Sunday breakfasts all planned out, or you eye up a sunny patch of backyard for summer barbecues. Emotions take the wheel. An inspector puts some logic back in the driver’s seat.
They will go over the structural components, the roofing, walls and ceilings, the plumbing and electrical, drainage and more. They are there to find visible defects and flag anything that needs a closer look. In the end, their report is one of the most useful pieces of paper you will have in the process.
Take for instance a buyer who has taken a shine to an old charmer. The open inspection was unremarkable, but a building report comes back to show the roof is leaking and there is extensive timber rot. We are talking $40,000 in repairs. The so-called bargain doesn’t seem quite so attractive anymore. You hear these stories all the time.
Then again, sometimes you are left with the odd loose tile or some damaged gutters. Even those minor findings are worth having as a maintenance guide for the future.
And it gives you leverage in negotiations. When you have credible evidence of a defect, the seller’s strong position is diminished. You can ask for the price to be lowered, have the work done, or walk away from the deal entirely. Knowledge changes the tone of the conversation.
Do it before the purchase is unconditional if you can. Waiting too long makes a problem an obligation. And no one wants to uncover a major flaw after moving day.
The type of property you are looking at will dictate the risks. A new home could have construction flaws, an older one might have structural secrets, and an apartment can show you water ingress or balcony wear and tear. Don’t let an attractive exterior fool you into thinking you are getting a free pass.