Whether a house is new or old, it is imperative that a pre-buy character inspection is obtained. The biggest mistake a novice character purchaser could make would be to skimp on the cost of obtaining an independent character inspection report.
In Queensland a standard RE IQ house buy contract incorporates the provisions for a building and pest inspection. “Knowledge is strength” and armed with an accurate, detailed character inspection report you will have the knowledge to decipher whether the information provided to you by the vendor or agent is accurate or simply sales spiel. For example, a question regarding a small amount of white powder running by the grout around some floor tiles is probably not spilt talcum powder as the vendor may have tried to tell you and is far more likely to be efflorescence caused by moisture penetration by the concrete slab. However, armed with the knowledge that you obtained from your building inspection report, you would be empowered to make an informed decision that could save you from a potentially costly rectification.
Another assistance of obtaining a building and pest character inspection report is the ability to renegotiate the contract price for faults that were not disclosed to you prior to signing the contract. What many house purchasers do not realise is that despite a contract being signed and price agreed upon, the purchaser has the right to renegotiate the buy price to offset the costs involved in rectification of faults highlighted within the character inspection report. Should the vendor and purchasers not come to an agreeable reduction to cover the cost of rectification the purchaser afterward retains the right to terminate the contract, providing the faults were of reasonable significance.
A detailed building inspection report is also an highly useful tool when budgeting costs for future maintenance. Most quality character inspection reports would incorporate detailed photographs of the specific faults whilst providing general script in relation to what’s involved in rectifying the faults and incorporating time frames for the repairs. An accurate character inspection report would also provide an insight into issues that may arise in the future despite not being problematic at present. Being forewarned of an issue and afterward taking steps to prevent far more meaningful issues occurring in the future could save you many thousands of dollars.
In summary, whilst you could probably think of far more enjoyable ways of spending your money, the minimal cost involved in obtaining a detailed building inspection report is insignificant compared to the cost outlay involved in the buy of a house. In fact, in most situations the cost of the character inspection report would be saved many times over thanks to the findings in the building inspection report enabling a renegotiation of the buy price or by providing you with the information to avoid future costly maintenance issues. After personally undertaking over 20,000 character inspections and seeing many tragic house buy situations I would always recommend my friends, family and general public acquire an independent character inspection prior to buy to avoid possible future heartache.