Getting a building inspection is always recommended, but what could go wrong if you skip it? What are the benefits of having one? A thorough building inspection can uncover issues that might not be obvious at first glance—issues that could cost you thousands down the road.
For example, when is a 3-bedroom house actually a 2-bedroom house? It happens more often than you think, and without a proper inspection, you might not find out until it’s too late.
A Real-Life Example
One first-time home buyer learned this the hard way. After getting advice from so-called "experts" on Dr. Google and Dr. Facebook, he made an offer on what he thought was his dream home. Trusting the faceless "experts" on social media and believing the sales agent—two mistakes no property buyer should ever make—he nearly overpaid by over $100,000.
Luckily, we crossed paths just in time. Our builder-trained buyer's advocate took one look at the property and immediately saw something was wrong. We stepped in, took over the purchase process, and helped him walk away from the contract without penalties.
The Shocking Truth? What was advertised and sold as a 3-bedroom house was actually a 2-bedroom house with an illegal extension!
What Can a Building Inspection Uncover?
A building inspection can reveal hidden problems like:
Structural issues that could lead to costly repairs.
Illegal extensions or modifications that don’t comply with building codes.
Pest infestations or damage that could compromise the property’s value.
Safety hazards like faulty wiring or asbestos.
What Should You Do After Getting the Report?
Once you have the inspection report, it’s crucial to:
Understand the findings: Review the report thoroughly or consult with a professional to understand the implications.
Negotiate or walk away: Use the report to negotiate a better price or, if the issues are too significant, walk away from the deal.
Plan for repairs: If you decide to proceed with the purchase, factor in the cost of necessary repairs or renovations.
How Much does a Building Inspection Cost?
A formal building inspection takes about 2 hours and need not be expensive. Depending on location, type and size of the house, and obviously, other competitors in the area, a formal building inspection can cost between $500 to $700. In the bigger scheme of things, it is approximately 1% and it is a small price to pay, for your biggest investment in life.
Building inspectors usually does not include a pest inspection, which looks for pest infestations and pest damages, such as termites, boring insects, etc. Most building inspectors offer this as an additional cost option, of approximately $300.
Are there Lower Cost Building Inspection options?
Yes there are, but these would usually be limited to a 15-30 minute visual, non-invasive inspection of property.
Our builder trained buyers advocates offer this scaled down inspection as part of the Open-For-Inspection inspection package. As we inspect the property during the regular open for inspection times, we watch for obvious areas of concern in the properties. This is usually sufficient to highlight major issues, such as stumping issues, major concerns such as cracks, falling walls, etc.
We also include an independent appraisal, so you fully understand the true value of the property and avoid the risk of overpaying. Let us help you make informed decisions, no matter where you are.
Note: Due to the limited time available, this will be not be detailed inspection report.
The Bottom Line
Never underestimate the importance of a building inspection. It’s a small investment that can save you from making a costly mistake. Don’t rely on social media "experts" or sales agents—get professional advice, and make informed decisions.
Contact us today to learn more about how we can guide you through the property buying process and protect your investment.
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