After months of searching, you finally find a property that meets your needs. But how can you be sure that the building and grounds are in good condition?
One of the best ways to make sure that your dream home is without significant defects is to have a pre-purchase building and pest inspection before finalising the sale.
People who need a building and pest inspection may be reluctant to initiate one because they are worried about the cost. Here, we discuss factors that affect the cost and present a range of prices typical for different locations and types of properties.
What Is a Building Inspection?
A building inspection examines the major elements of a structure, outbuildings and grounds to determine whether there are structural problems or elements not up to code. Building inspections are recommended for both new construction and older homes.
Pest inspections look for evidence of damage by termites, ants and other wood-boring insects. An inspection will look at the condition of the foundation, roof space, exterior roof, flooring and underfloor space. It also examines interior and exterior elements, including the condition of wiring and plumbing.
In addition, the inspection should look at exterior features such as paths, driveways, retaining walls and fencing. Outbuildings or attached auxiliary buildings such as garages, carports, garden sheds and pergolas will also be examined.
The exterior grounds will be examined, particularly for slope, drainage and overall condition of the property. A pest inspection will examine timber associated with subfloor spaces, attic spaces and other wooden features of the home to look for past and present evidence of wood-destroying insects.
A report will detail the findings of the inspection, accompanied by recommendations on how to rectify any damaged areas or bring a property up to code. The report should also state the legal status of the property. This includes certifying the guarantee of a title and any outstanding mortgages or encumbrances against the property.
The report will also identify any areas not examined and why. For example, if access to the attic space is blocked and the inspector could not enter the roof space, the report should state this.
How Much Does a Building Inspection Cost?
The price of a building inspection is dependent on several factors, including whether the property is in a city or a rural setting, the size of the property and what kind of property it is. Apartments, town homes and smaller homes will cost less than larger homes or buildings on lots with unusual topography.
The price will also vary if other inspections, such as an asbestos audit or termite inspection, are also done. A qualified building inspector is trained to evaluate the condition of a property. Because inspectors set their own rates, pricing is competitive.
In general, an inspection for a small property may cost between $200 and $350 in a regional area. A larger home may cost between $400 and $500. Prices in metropolitan areas are higher. A comparable home in Brisbane, for example, could cost between $800 and $1,000.
Pest inspections generally cost less than building inspections. Some inspectors charge $100 per hour for this service. Others charge a flat fee, often a minimum of $250. Prices depend on the size of the property. Inspectors may offer lower prices when both the building and pest inspection are carried out at the same time.
Inspections completed prior to purchase allow the buyer to be aware of any need for repairs or structural problems. The contract for sale can include a clause stating that the sale is dependent on the condition of the home subject to a building and pest inspection.
Evaluate Your Inspector
Because inspectors are independent and can set their own prices, it is important to make sure you find a well-qualified inspector. Ask to see proof of certification.
Just like other industries, it’s best to get estimates from several people. Make sure that the quotes specify what the inspection will cover so that you are able to compare prices. Ask for referrals and testimonials from previous customers.
Although inspections may seem costly, they can help the buyer save in the long run. Hopefully, an inspection will find only minor problems, suggesting that your dream house is sound and ready to change hands.
If faults are identified, the price of the property can be negotiated to reflect the cost of repairs.
