Why is a Building Inspection important?
A building inspection acts as a snapshot in time identifying safety hazards, major and minor defects that are present in the building. Building inspections therefore have a number of purposes and benefits.
The primary reason to have a building inspection is to ensure that the home you are buying or occupying is safe and doesn’t pose a health risk to occupants.
The major reasons to have a building inspection are outlined below:
• Many defects are concealed and difficult to detect without expert knowledge of construction methods and materials
• Most people won’t get onto the roof, into the roof and under the floor of a home during their own inspections of a property which may mean potentially significant and costly defects would be missed.
• Many individuals don’t have the expertise or time to assess the potential cost and works implications of the defects that are easily identified or obvious
• Interstate investors may buy property ‘online’ and a building inspection allows them to get independent advice and information about a property rather than relying on the advice of agents who have a vested interest in the sale proceeding
• You can rely on the findings of a building inspection as they are backed by Professional Indemnity insurance provisions; the advice of a ‘mate’ or ‘friend’ in the building trade doesn’t have the same assurances
• Prevent financial loss which may occur if you find major defects and safety hazards
• Assist you to plan for repairs and renovation and their likely cost
• Determine the rate of return on potential investments given the likely maintenance requirements
• Aid in negotiations for the sale or purchase of a property
• Document the condition of an adjoining property prior to major works which may create unintended damage
Building inspections are particularly critical when considering that a home or building may have Asbestos or other potential contaminants present including mould or lead products which are known health hazards.
When purchasing a building many people will plan to spend up to their maximum financial capacity to acquire the property. Without a building inspection these investors and home owners may then find themselves unable to meet the costs of repair works required to address defects.