Why you shouldn’t skip the building inspection step when buying property

Purchasing a property is a huge milestone, whether it’s a cozy first home, a bigger place to bring up your growing family, or a commercial space for your business. However, amidst the excitement it’s crucial not to overlook a vital step in the process. The building inspection.

We understand that it may seem like an additional expense and time-consuming task, but a thorough building inspection could save you from potential headaches and financial burdens in the future.

Let’s talk about the convincing reasons why you should make getting a building inspection, a priority.

Identifying any structural issues

One of the main reasons for paying someone to complete a building inspection is to uncover any underlying structural issues. From foundation cracks to roofing problems, these issues may not be visible during a casual walkthrough. By hiring a qualified building inspector, you can gain insight into the structural integrity of the property, ensuring that you’re not investing in a structurally compromised building that could pose safety risks in the future.

Checking for any safety concerns

Speaking of safety, ensuring your new property is going to be safe should be a top priority. A building inspection can reveal potential safety hazards such as faulty electrical wiring, plumbing leaks, or the presence of toxic substances like mould or asbestos. Some things aren’t always a game-changer, but it is very important that you know what you are signing up for.

Assessing maintenance needs

Even if a property appears to be in good condition on the surface, there may be underlying maintenance issues that could escalate into costly repairs over time. A thorough building inspection can help you identify areas that require immediate attention, allowing you to budget for future maintenance expenses accordingly. Whether it’s addressing borer damage or upgrading outdated heat pump systems, knowing the property’s maintenance needs upfront can save you from unexpected costs in the future.

Negotiating Power

Armed with the findings from a building inspection report, you may gain valuable negotiating power when it comes to finalising the terms of the sale. If significant issues are uncovered during the inspection, you can either negotiate with the seller to lower the price or request that they address the issues before the sale is finalised. In some cases, a building inspection may even uncover deal-breakers that prompt you to walk away from a potentially problematic investment.

Peace of mind

Knowing that your property has been thoroughly assessed by a professional inspector will not only give you confidence in your investment decision, but it will give your lender the confidence that they are backing a good investment too.

How we can help

A building inspection isn’t a nice to have, it’s an essential step in the property purchasing process. Here at Mortgage Link Hawke’s Bay, not only can we find you the best solution for your mortgage, we can help you build a team to back you on your property buying journey. This may include solicitors, building inspectors, insurance advisers, KiwiSaver advisers etc. Give us a call today.