When making one of the biggest financial decisions of your life – purchasing a property – it’s critical to have a thorough building inspection done.
A professional building inspector can uncover major issues that could end up costing you tens of thousands of dollars down the line.
Discover the key reasons why you should always use a building inspector, what they look for, and how to find a reputable one.
Learn from a real-life case study that demonstrates the immense value a building inspector can provide.
What Does a Building Inspector Do?
A building inspector is a professional who thoroughly examines the condition of a property, both inside and out.
Their role is to identify any major or minor defects, safety issues, and potential problems that may not be visible to the untrained eye.
Some of the key things a building inspector will look for include:
- Structural integrity of the building
- Condition of the roof, walls, floors, and foundations
- Plumbing, electrical, and other systems
- Signs of water damage, pests, or other issues
- Compliance with building codes and regulations
They use a variety of tools and techniques to assess the property, including:
- Visual inspections
- Moisture meters to detect water damage
- Thermal imaging cameras to identify heat loss or air leaks
- Probing and tapping to assess the condition of materials
The inspector will then provide a detailed report outlining their findings, including any major or minor defects, the severity of the issues, and estimated repair costs.
This information is invaluable for buyers, as it allows them to make an informed decision about whether to proceed with the purchase and potentially renegotiate the price.
Why You Should Always Use a Building Inspector
Buying a property is one of the biggest financial decisions most people will make in their lifetime.
It’s crucial to have a professional building inspector thoroughly assess the condition of the property before you commit to the purchase. Here are some of the key reasons why:
Uncover Major Defects
A building inspector can identify major structural, plumbing, or electrical issues that could end up costing you tens of thousands of dollars to fix. These might include:
- Extensive water damage or mold
- Termite or pest infestations
- Faulty wiring or plumbing
- Foundation problems
Without a building inspection, these major defects could go unnoticed until after you’ve already purchased the property.
At that point, you’re stuck with the repair costs, which can be financially devastating.
Negotiate a Fair Price
Armed with the information from the building inspection report, you can use any major defects as leverage to negotiate a lower purchase price.
This helps ensure you’re not overpaying for a property that requires significant repairs.
As Bunna from Jim’s Building Inspections explains, “If there’s a major defect identified, this is something you can go back to the vendor or your conveyancer and say, ‘Hey, there’s a major defect identified here. This is the potential implication, these are the costs that could be involved.’ You can use that as leverage for a price reduction.”
Understand Maintenance Requirements
Even if a building inspection doesn’t uncover any major issues, it can still provide valuable insights into the ongoing maintenance requirements of the property.
The report will identify any minor defects or areas that may need attention in the future.
This information allows you to budget accordingly and tackle any problems before they escalate into larger, more expensive issues.
It also gives you peace of mind knowing what you’re getting into when you purchase the property.
Avoid Costly Surprises
Without a building inspection, you run the risk of uncovering major problems after you’ve already moved in.
These unexpected repair costs can be financially devastating, especially for first-time homebuyers.
As Rachel from Jim’s Conveyancing points out, “Buying a property is the largest transaction you’re ever going to make, and a lot of people they only buy one property and they stay in them for the rest of their lives. Such a minor thing that you would think is actually a huge play in the game – I think it’s critical to get a building inspection done.”
What to Look for in a Building Inspector
Not all building inspectors are created equal.
It’s important to do your research and find a reputable, experienced professional who will provide a thorough, unbiased assessment of the property.
Here are some key things to look for when choosing a building inspector:
- Extensive experience in the building industry, ideally 10+ years
- Proper licensing and qualifications, such as a builder’s license or relevant certifications
- Use of specialized equipment like thermal imaging cameras and moisture meters
- Willingness to thoroughly inspect the entire property, including hard-to-access areas
- Detailed, easy-to-understand reporting that clearly outlines any issues found
As Bunna from Jim’s Building Inspections explains, “There are those inspectors who will just fly through your house, tick and flick type thing. They’ll charge you a bit less, but what are you going to get? I don’t think my price is expensive, but if the price is what you’re looking for, then be my guest. You shouldn’t compromise your price here because this is a big transaction you’re about to undertake.”
The cost of a building inspection can vary, but you can generally expect to pay between $300 to $600 for a comprehensive assessment.
While this may seem like a significant upfront expense, it’s a small price to pay compared to the potential costs of major repairs down the line.
A Real-Life Case Study
Let’s look at a real-life example that demonstrates the immense value of a thorough building inspection.
One of Rachel’s clients, let’s call him Ravi, was interested in purchasing a property in the Trina area.
The real estate agent was pushing Ravi to buy the property and use a building inspection report that was already done, rather than getting his own inspection.
Ravi was hesitant, and Rachel encouraged him to get his own building inspector to take a closer look.
She referred him to Bunna from Jim’s Building Inspections.
When Bunna inspected the property, he found major issues that the previous report had failed to identify:
- Significant water leaks in the bathroom and ensuite
- Extensive moisture damage that had spread throughout the walls and subfloor
Bunna explained that to properly address the bathroom issues, the entire bathroom would need to be gutted and rebuilt – a job that would likely cost tens of thousands of dollars.
Ravi was shocked by the findings, as the real estate agent’s report had not disclosed these major defects.
He ended up terminating the contract, saving himself from a financial disaster.
As Bunna recounts, “I felt proud of that job because I’ve managed to save him. That was the most valuable $680 he’d ever spent in his life if he moved in. The whole house is pretty much gone, and they repaired the areas where they suspect that people going to see or the inspector is going to pick up, but they didn’t expect me to find everywhere else.”
This case study highlights the critical importance of using a thorough, experienced building inspector.
Bunna’s diligence and attention to detail saved Ravi from a costly mistake, and allowed him to walk away from the purchase with his financial future intact.
Buying a property is one of the biggest financial decisions you’ll ever make.
Skimping on a building inspection can end up costing you dearly in the long run, with the potential for major repair bills and other unexpected expenses.
By engaging a reputable, experienced building inspector like those from Jim’s Building Inspections, you can uncover any major defects, negotiate a fair price, and understand the ongoing maintenance requirements of the property.
This information is invaluable in helping you make an informed decision about whether to proceed with the purchase.
Don’t take chances with your financial future.
Invest in a thorough building inspection – it could end up saving you tens of thousands of dollars down the line.
To request a free quote from Jim’s Building Inspections, call 131 546 or visit jims.net.
Be sure to check out the Jim’s Group YouTube channel for more expert advice and how-to videos.