5 common mistakes buyers make with inspections
Are you tossing up the idea of a better lifestyle and buying real estate in Surfers Paradise? Whether it's to live in or rent out, you should undertake an inspection.
Thus far in 2015, the monthly value of financial commitments for residential dwellings has remained at around $32billion. That's certainly not something to sneeze at!
With the sheer amount of money involved, it's vital that you go through the proper inspection process to ensure that you don't buy a dud.
If there are no problems? Great, you can have that warm feeling of confidence knowing you can make a safe purchase. But if there are? You will be able to make an informed decision and perhaps negotiate with the seller for their Surfers Paradise property. Win win!
Here are a few common inspection mistakes made by buyers.
Not using a professional
The seller may offer you a pre-prepared inspection report for their Main Beach real estate, but it's still a good idea to bite the bullet and get one done yourself for authenticity's sake.
Unless you're a qualified tradie and experienced with the art of finding potential problems within homes, then hire a professional.
The state government recommends ensuring the inspector holds a current license from the Queensland Building and Construction Commission, as well as interviewing them to make sure you're satisfied they're fit for the job.
Not being present at the inspection
While you will get a report once the inspection has taken place, should actually accompany your appointed professional while they do their job.
Hearing it straight from the horse's mouth rather than reading it from a piece of paper can help you better understand what issues are more severe, not to mention eliminates the risk of any problems falling through the cracks.
Watching your inspector like a hawk can also help ensure no corners are cut!
Not asking questions
It's quite likely that you're no expert when it comes to the guts of a home, such as plumbing, electricity supply and the structure.
Therefore, while your inspector piggybacks you around the Surfers Paradise property, don't be afraid to ask questions.
Some examples include: Why is that wire exposed? What does that mean? Is that safe? How much would it cost to fix?
Not testing the utilities
During the inspection, you should test all the utilities and appliances to ensure firstly that they work, and secondly that they work well.
You don't want to commit to a piece of real estate in Surfers Paradise only to find that the oven is possessed and refuses to turn off, the dishwasher floods and the shower's hot water lasts less than a minute.
Finding this out when you've got a head full of shampoo isn't ideal.
Not inspecting a new home
It's a common perception that a newly constructed home doesn't need an inspection, because, well, it's new! While this may be true the majority of the time, you don't want to be caught out in the minority.
The builder can reassure you that the building is perfect, but you should get it inspected anyway. There could be some slight slip-ups that could prove to be crippling in the future.
Real estate in Surfers Paradise
After you've gone to great lengths to find your home, it's understandable that the excitement may take over your better judgement and persuade you to forego an inspection.
However, a report from a qualified inspector can offer you many benefits, including the assuredness that comes with being informed and the potential to bargain the seller's price down if you find any faults.
If you are considering purchasing Surfers Paradise property, talk to the team at Ray White. We've got years of experience in Main Beach real estate, making our business goal to help you achieve yours.