5 questions to ask yourself before buying

When buying, there are many things you may need to think about.

When you’re buying a home, you (or your building inspector) will most likely identify something that you wish wasn’t there; damp wood, termites, leakage, or a frame with damaged structure. The simple fact is no home has a clean bill of health, especially if you’re looking to buy an 80-year-old Queensland home.

All properties have their own issues and a building and pest inspection will be able to measure the severity of them. A building and pest report will specifically outline any ongoing maintenance needed and a checklist of what to tackle in priority, should you go ahead and purchase the property.

Ideally, what you as a buyer wants from a building and pest report is for it to identify whether the property you wish to buy is better than/on par/worse than other properties in the area. For example, if you are buying an 80-year-old Queenslander, it will more than likely show signs of termite, borer and fungal decay damage and water ingress from aging roofs and bathrooms – where as a newly built home won’t.

Your building inspector will be able to identify whether there is any structural damage to be concerned about. They can also tell whether past damage has been rectified in an appropriate way; and how well the property has been maintained by its previous owners. Good building inspectors will meetnyou at the property so they can talk you through the inspection as they go. They will be able to identify the condition of the house on the spot; tell you how it stacks up for a property of its age and give you an honest opinion on the condition of the property.

Make sure you ensure the report you receive from your building and pest inspector is put into context. Don’t be scared of what is in the report but also don’t ignore it and go on to buy another property without engaging in a building and pest inspection. These reports are here to help you understand the condition of the property you are buying.

Still concerned? Ask yourself these 5 questions to help make your buying decision:

1.      How does this property compare to others of a similar age and style, in a similar location?
2.      What issues need to be dealt with before moving into the property?
3.      What is the likely cost of each issue identified in the building and pest report?
4.      Do you see any ongoing, costly maintenance issues?
5.      Would you let your son/daughter buy this house?