Buying your first home is exciting! It’s a time when you actually can’t wait to jump out of bed early in the morning to visit as many open house inspections as you can. You’ve already done your homework, have your finance sorted, and know your budget. Before you grab your jacket and sprint out the door, here are a few things to look out for before you buy your first home.
What to look for when buying your first home:
Building Inspection
Before you sign on the dotted line, a building inspection is a must. Why? A building inspection will provide you with enough information to determine whether the property is worth the asking price, or worth buying at all. Carried out by a qualified inspector, it covers everything from structural defects, rising damp, roofing issues and more. You will know if the property is sturdy and safe. Most importantly, it will also give you an idea on whether the building faults can be fixed, and how much it may cost to repair them. You can use this information to your advantage when you negotiate for a fair asking price.
Pest Inspection
Just like the building inspection, a pest inspection is also a must! Pests such as termites or white ants can cause unimaginable damage. Repairing this damage can cost you thousands. And, worse still, damage caused by these insects is not usually covered under your home insurance. You will be left to foot the damage bill, alone. Termites are not easy to see. They are known to burrow long distances to find food sources, so it can be difficult to detect them. Safeguard yourself and hire a professional pest inspector for a thorough inspection before you buy. A small outlay now can save you heaps in the long run.
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Asbestos Inspection
If you are buying your first home with the intention to renovate, consider this – Does the home have any hazardous material such as asbestos? Many older homes, especially those built prior to 1985 are highly likely to contain asbestos. This dangerous fibrous material can normally be found in roofing sheets, eaves, exterior wall cladding, old sheds, walls, ceilings, carpet underlay, flooring sheets and more. To find out if there is any asbestos in the home, and how much it will cost to remove it, we recommend a professional asbestos inspection. Then, you can factor in any potential costs to your renovation budget, and avoid any nasty surprises.
Buying a home is one of life’s biggest decisions and investments. It’s important to get it right. Go to Things to look out for before you buy your first home – Part II to be fully prepared, and armed to make an informed decision.
If you’re just beginning your home-buying journey, click here to see a full list of Jim’s local experts who can help you along your home-ownership pathway.
Related Jim’s Group Blogs:
– Things To Look Out For Before You Buy Your First Home – Part 2
– Average Cost To Build A 4 Bedroom House In Australia.
– Budget Home Maintenance Ideas In 2020
– Bushfires And Protecting Your Home.