Buying a house should always be a rational decision. When it comes time for the first inspection, you should be looking for any possible defects while admiring the advantages. A house that looks good but has hidden structural damage will quickly change from a smart buy into a really bad one.
The main goal here is to make sure that the property is exactly how you need it to be, and that you’re getting exactly what you’re paying for. The last thing anyone wants when buying a new home is to miss something that one day becomes a massively expensive problem one day in the future, especially if it could have been avoided.
House owner/real estate agent giving away the keys – house out of focus
Create A Checklist
There aren’t many purchases in life that will be as significant as purchasing property, so it should come as no surprise that they can also become extremely expensive money pits whenever there are problems. Remember that even those seemingly minor issues can ultimately become much more prominent over time, which you’ll eventually need to deal with at some point.
That’s why it’s so important to create a thorough checklist and use it diligently throughout the entire purchasing process. If you notice something on your checklist during the property inspection that doesn’t seem right, you’ll have time and you are well within your legal rights to have the issues rectified because every property must pass inspection before they are sold.
Finance Or Savings?
Before you start house hunting, you need to know whether you need to secure finance or you’ll be spending your savings. If you’re getting finance with a loan, it’s definitely a smart idea to get compare home loans options, pre-approve finance based on your current financial situation, requirements, and objectives. Pre-approval also called conditional approval, pre-approval provides you with a letter from your bank or lender stating how much money they are going to let you borrow.
Pre-approval puts you in a very strong position when you are ready to make an offer on a home and is also a requirement if you want to be able to place bids at some auctions. Remember too that you shouldn’t be making major financial moves before legal property settlement is completed after a separation.
Swimming Pool
Does the property you’re planning on buying have a swimming pool? Or are you planning to build one some point in the future? It’s important to be aware that there are strict laws concerning all types of swimming pools, so the vendor should provide a pool safety certificate.
If you have any concerns regarding swimming pool compliance, you should arrange your own independent inspection and evaluation of the pool itself, as well as the pool fencing and the surrounding area. Alternatively, if you’re planning to have a fibreglass swimming pool installed, you should check that there is easy access to the property for any necessary equipment hire that your swimming pool builder may need.
Accessibility
Does the house and property need any accessibility modifications? When searching for a home for the elderly, or someone living with a physical disability or sight impairment, they often have special needs that must be addressed.
It’s usually pretty unlikely to find the ideal house that has been specifically designed for someone with disabilities, so some modifications are usually unavoidable. But you should still look for a home that requires the least amount of modifications as possible by thoroughly investigating each one to avoid unnecessary and costly renovations. The right home should provide ample room for manoeuvrability, in-home hand railing, or access for standard or powered wheelchairs, whereas choosing the wrong one will create big issues when modifications like these are needed.
Roofing, Gutters, & Plumbing
Gutters, roofing, and plumbing all serve crucial and often overlooked roles in protecting your home from expensive water damage. Ask if the roof has been replaced or had work done recently and whether the warranty still applies and can be transferred upon sale. Check the roof and guttering for stains, dark patches, moss, or signs of decay or rust.
When it comes to problem areas with plumbing like blocked drains and busted pipes, they are often some of the hardest and therefore the costliest to fix, usually happening when you least expect it. Not to mention the amount of damage it can cause to your house, your property, and even your neighbour’s property, which certainly won’t help to keep up your friendly neighbourly relations. You should inspect drains, pipes, and sewage systems so that you can identify any faulty materials, possible water leaks, and other plumbing problems that may need repairs. If you’re uncertain about any of these areas, consult a professional to carry out a professional inspection. This saves you money as it spots all the potential problems before they can happen.
Final Thoughts
Between the real estate agents and mortgage brokers, as well as all the paperwork and technical jargon, buying a house can be a really confusing, complicated, and overwhelming process for many. But if you’re ready to make your big break in the property market, make sure that you’re not buying a lemon by checking everything thoroughly at the first property inspection.
