Purchasing a home is an exciting yet nerve racking time for most people. Competition is tough at the best of times, and you’re undoubtedly spending most of your weekends looking at a wide variety of potential homes that cater to your needs. When something does come up, you’re usually in a rat race with several other eager home buyers who don’t want to miss out.
But before you rush into this major, life-changing decision, we’ve compiled a list of helpful tips to keep in mind when purchasing a property in Melbourne.
THE STATE OF THE PROPERTY MARKET IN MELBOURNE
As one of the weirdest year’s on record comes to a close, one thing has remained firm in 2020 despite the doom and gloom predictions of real estate experts across the nation: House Prices.
According to the latest reports, despite a sluggish past few months, the Melbourne Property market for both regional and metropolitan areas continues to hold strong. This is much to the relief of homeowners who may have been worried over capitalising on their investments prior to COVID.
“…Despite everything being thrown at the property market, it remains really resilient,” says Leah Calnan, the president of the Real Estate Institute of Victoria. Leah also highlights that you shouldn’t always listen to the property experts who predict price crashes of up to 25 per cent.”
To keep an eye on trends in the Melbourne property market, The Real Estate Institute of Victoria provides regular property reports for suburbs across Victoria.
A BUSY SUMMER AHEAD FOR THE PROPERTY MARKET
Things for the Melbourne property market don’t look like they are expected to slow down anytime soon. With COVID19 restrictions easing across Australia and interstate travel resuming just in time for the Christmas holidays, a new wave of eager home buyers will undoubtedly be looking to get their foot in the door of the property market.
There’s also been an influx of enquiries from Melbourne and Sydney residents looking to make a seachange to Queensland. This is great news for Melbourne home buyers as there’s likely to be opportunities coming up over the next few months.
But before jumping into the biggest financial decision of your life, it’s important to take an in-depth look at your future property to ensure you’re making a calculated, educated decision.
ADVICE FOR HOME BUYERS
If you’re looking at buying your first house or have found one you’re interested in, there’s a good chance you’re concerned with numerous factors that don’t concern the physical property. Things like the suburb it’s situated in, it’s proximity to schools and shops, how busy the street is, your friends that live in the area; the list goes on.
When it comes to inspecting the actual property, first home owners may be oblivious to major issues that can be detrimental to the integrity and value of the house. It may initially seem like an easy fix to you, but a professional pre purchase building and pest inspection can quickly reveal the eye watering costs involved to rectify certain issues.
A QUALITY BUILDING AND PEST INSPECTION UNCOVERS DEFECTS INSIDE AND OUT
If you’re new to the property game, A Building and Pest Inspection is a visual inspection of accessible areas of the interior and exterior of your property. It’s undertaken to detect safety hazards, major and minor defects and general maintenance required prior to the sale of a house.
A thorough building and pest inspection is paramount to ensuring your new dream home is exactly that. With Building and Pest Inspections Melbourne, our registered builders go over each and every property with a fine-tooth comb. Potential home owners can rest assured knowing that any unexpected or hidden surprises are brought to your attention.
Our detailed reports are emailed to you the same day as the inspection and we take time to answer your questions and explain our findings to you. You’ll be able to accurately assess any potential areas of concern. This might provide you with some bargaining power with the seller, or it’ll simply help you avoid buying a lemon.
COMMON ISSUES FOUND IN BUILDING AND PEST INSPECTIONS
Although every home is different, there are a lot of common issues that occur with properties over time. We’ve compiled the following list of major issues that appear in building and pest inspections.
● Water issues/Drainage
If you’ve lived in a house with water issues or have undertaken any previous renovations, you’ll know how expensive plumbing can be. Damaged gutters and downpipes, leaking taps and pipes in bathrooms, to leaking roofs, water is one of the biggest issues that can occur. Failed waterproofing in the bathrooms of older homes is also a regular issue. The water can seep through the grout between tiles and can start to decay the floor and seep into other areas of the house.
● Roof Damage
Roofs are another leading cause for concern. With Australia’s unrelenting weather, particularly for Melbourne, roof deterioration is bound to occur at some stage of the property’s life. Whether it’s damaged tiles or defects with the roofs frame, a damaged roof can require significant, costly repairs.
● Structural Defects
Over time, structural defects from decay can affect most homes without regular maintenance. A property’s walls may be bowed or on an angle, or the home’s foundations may have moved or have significantly deteriorated over time. This may lead to failure to support the weight of the house.
● Pest Activity
The word “Termite” strikes fear in any homeowner, and for good reason. In many cases, it’s only when visible signs start to appear that you may realise you have termites. By then, substantial termite damage may have already occurred to wood-framed structures, making the property structurally unsafe. In addition to termites, Building and Pest inspectors look for signs of other pests that can infest a property such as rats and possums in the sub-floor or roof void.
SO DEFECTS WERE FOUND IN YOUR BUILDING AND PEST INSPECTION, NOW WHAT?
It’s not uncommon for there to be a range of items listed on a building and pest inspection, so how do you know the difference between a minor defect and a major one? With Building and Pest Inspection Melbourne it’s easy. Our detailed report with photos
categorises each defect as either a safety hazard, a major defect, or a minor defect.
Following the inspection, with Building and Pest Inspections Melbourne, our qualified builders will discuss their findings with you, answering any questions you may have. We’ll let you know any major red flags you should be concerned about, offering our expert advice and the potential costs involved.
Regardless of the issue, we want you to be completely informed about the state of your potential new home, both inside and out before you go unconditional on the building and pest clause of your sale of contract.
GET A BUILDING AND PEST INSPECTION YOU CAN TRUST
If you’re in need of a building and pest inspection Melbourne based or beyond, we pride ourselves on exceptional customer service and friendly and professional advice. Our licensed builders email same day reports, and we’ll talk you through your report in detail and answer any questions you may have.
Contact our friendly team today to book your Building and Pest Inspection.