Why is it important to have a Home Inspection
When you’re purchasing a home in Melbourne, or anywhere else for that matter, it’s really important that you do your due diligence before signing any agreement. Buying a property is a lengthy process and can take several months, if not years because of the magnitude of the decision that you will be making. The first step is to obtain your finance and work out your budget. Then you’ll need to start searching for a property, and once you find properties you like, attend the open for inspections/open homes. There are other steps in the property purchase process that you will need to take as well. One of these is getting a home inspection.
A home inspection is essential because it lets you know the faults prior to signing any documentation. This protects you should there be something wrong with it. If you bought a home without getting a home inspection done, you could find yourself losing a lot of money if you were to later find out there were defects. If this was the case, then you, not the vendor would be liable because you wouldn’t have conducted the relevant checks. That could cost you thousands of dollars, and that would assume the issue was minor.
Let’s say the issue was major and you wanted to back out of the sale, but had made an unconditional offer, you would have no legal recourse if you hadn’t had a home inspection done, so if you found that you didn’t want to proceed with the sale you could lose the deposit plus any legal fees or finance approval fees.
A home inspection may be a cost that you don’t want to fork out for, but considering you’re spending hundreds of thousands of dollars, if not millions of dollars, it’s much better to spend a few hundred dollars getting the property checked over by an independent builder, so you know exactly what you’re getting. By getting a home inspection completed, you will also find that you may have more bargaining power and can negotiate the price down if you find that there are defects that need to be repaired.
You will also avoid the risk of defects being omitted by the vendor if you get an independent home inspection conducted. Let’s be honest, if you were selling a house or any other goods or service, would you let the potential buyer know the faults? The chances are you wouldn’t because you’d want to sell the property. A home inspection will help you because you will know exactly what you are getting and there will not be any nasty surprises later on.