When buying an investment property, it makes sense to get a building inspection and pests prior to purchase, in order to avoid any hidden surprises.
You may decide to hire the services of a professional to do this. Andrew Mackie-Smith, building inspector and pest of BuildingPro, a YIP award winner, said that when choosing an inspector, make sure that he is the licensee and that it is insured in accordance with the requirements of your state.
"It's also a good idea to check out Google reviews. It is difficult to qualify for the Inspector Compensation Insurance because they have a large number of waivers and exclusions, so it is best to choose an inspector who has a lot of experience and enjoys an excellent reputation. Do not select an inspector based on price; the $ 100 you save today can cost you tens of thousands of dollars later, "he says.
The inspectors verify that a property complies with AS4349.1 and AS4349.3 with regard to major construction defects, safety hazards and wood pests. They will inspect all reasonably accessible areas.
However, Mackie-Smith believes that inspectors do not have to comment on compliance, unauthorized construction work, concealed plumbing, electrical appliances, cables, wired internet, asbestos, lead paint and hidden defects.
"For example, if the interior of a property is chipped, there are two bodies in the backyard, the device for opening the garage door is broken , the air conditioning system does not work, the house is in flight path, there is no cable connection and there is a gas leak, none of this will be covered by the building's standard inspection, he said.
It could cost many thousands of dollars to rectify or not be repairable at all. That's why you should use your own checklist and consult the property yourself.
If you can attend the building inspection, ask your agent if you can check the operation of the appliances, especially essential items such as air conditioning and the cooktop. If you can not get there, ask your buyer's agent or property manager to check these things for you.
To read the entire article in which you will explain how to do your own building inspection and pest inspection, check out the full article in the March 2019 issue. from Your Investment Property magazine.
Available at Coles news agencies and supermarkets from February 14 to March 14, 2019, or download the magazine now.
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