Jul 13
by Darren K. Thompson

Anytime you’re purchasing new property, you should have all your ducks in a row. Sure, this may be your dream home and you want to close on it before anyone else gets a chance, but jumping before thinking could be the worst decision you make. There are many issues that can be found within a home if you take the time to look for them.

This is especially true for a home that has been sitting on the market for quite some time without the owners living on the premises. During this time, there could be infestations all over that range from termites and cockroaches to nesting areas for mice and other rodents. Do you really want to put your family in a home that could possibly have these problems?

There are a lot of companies out there that can help you with inspection; however Sydney Termite Control has been taking care of these issues for years and will be the first to tell you how important a deep inspection is before buying. Not getting the property properly examined before hand could possibly get you one or all of the seven biggest dangers of buying a house without a proper inspection.

Health- We already mentioned it above, but placing your family in a home that is infested with rodents, insects, or other pests could send them to the doctor’s office within days.

Foundation- Foundation problems if left untouched can turn into huge bills. However, you can minimize your cost by catching it early and most of the time you can’t see it unless you know exactly what you are looking for.

Additions- Adding things to your home most of the time will increase its value and build equity faster. However, if you were unaware of say foundation problems it may the leading candidate to keep you from putting an addition on your home.

Equity or Value- You could end up losing both if you’re not careful. Once it’s apparent that there is a problem like infestation, the value of your home will drop tremendously. Plus, all the equity you’ve wanted to build up will be washed away.

The Neighbors- You will be forced to take action immediately if you see that a neighbor’s home is not being taken care of. This is a key to the survival of your investment. Insects such as termites that go untreated can lead to not only the destruction of the house that they are invading but when they finish, will go to the next nearest home.

Missing the Deal- If you don’t have a building report in the beginning that talks about all the issues with the home, you probably lost out on a major deal. Add that amount with the money it will cost to get a reconstruction done and you could end up losing money in the long run.

Repairs- Not having a building report and not knowing all the repairs that need to be done is not a good thing. You will have to figure out the money spent on the home, to the money spent on repairs, to the time it takes to get it all done and factor that in to your investment.

These are the seven reasons why you need to get yourself a building report. It really doesn’t matter if you are buying your home from a friend, relative, or someone you do not know, it is essential to have one of these in your hand. One small miss in property damage could lead to months or even years of work to get it back to normal, thus leaving your investment return smaller.

About the Author:

Leave a Reply

You must be logged in to post a comment.