Many Australians, when choosing to purchase a house, prefer buying an old house to renovate and restore as it is an opportunity to return a run-down house to it's former glory. This also significantly increases the value of your investment and creates a beautiful and modernized family home.
Before buying a property however, it is essential that we carry out pre-purchase electrical inspections. The two most common of which are building and pest inspections to ensure that there are no major structural issues or infestations of insects or rodents.
Checking for structural issues is a must when making a purchase because of safety issues and cost concerns. Structural weaknesses can often cause collapses that may injure a person, but there is also the possibility that the structural issue will be impossible to repair without having to undergo major construction.
Buildings must conform to the Building Codes and Standards of Australia. If you purchase a home or commercial building that has major structural issues - which will definitely save you a lot of financial and emotional heartache down the track.
Another important thing to remember when doing a pre-purchase inspection is budgeting for repairs. Perhaps it seems like a good idea when it comes to purchasing a building that is in need of a few repairs because of discounted prices, however when you into the sale without an inspection, it could very well mean big costs for hidden repair issues.
If you opt out for a pre-purchase building inspection, you know exactly what needs to be done to bring the building up to where you'd like it to be.
Another important thing to be mindful of during pre-purchase electrical inspections is the checking of electrical wiring and smoke alarms. Faulty electrical wiring can make for a dangerous situation that could also increase the risk of electrocution or fire. Not having enough smoke alarms installed increases the likelihood of injury or death in the event of a fire, so invest in a building inspection to avoid serious injury related to electrical wiring issues or fire.
If you plan to buy a home for your family, you want to be sure that the home is safe and ready for you to live in. And there's nothing better than having a pre-purchase building inspection as it will reveal any areas of the home that may not be safe, in particular, the presence of asbestos and other dangerous material, missing or loose balustrades and cracks in the walls.
Uncovering hazards will give you the opportunity to decide if you are willing to take on the cost of making the home safe.
Remember when purchasing a new home, that is is important to do a pre-purchase electrical inspection, especially when evaluating sundry structures as the building itself is not only part of a property that may need the keen eye of a building inspector.
The local council regulations (they very from shire to shire) often dictate where these structures can be built, and when you purchase a building that does not conform with these regulations, it can mean tearing down a building which may have been one of the reasons you decided to purchase the property in the first place.
Opting out of a pre-purchase inspection may seem like a good idea, and the temptation may pull you in, but when you think you can save a few hundred dollars, the safety of the home you are purchasing is the most important priority. So make sure the building you purchase is safe, requires no expensive repairs and conforms to council regulations.
Inspecting could stop you making the biggest financial mistake of your life - it's a very small price to pay.
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