The Risks of Skipping a Building Inspection
When purchasing a property, many Australian buyers often face the dilemma of whether to invest in a building inspection. Although it might seem like a cost-saving decision to skip this step, the hidden costs can be substantial and detrimental in the long run.
Common Concerns About Building Inspections
1. Is a building inspection really necessary? Absolutely. A thorough inspection can uncover issues that may not be visible to the untrained eye.
2. What if the property looks fine? Just because a property appears good on the surface doesn’t mean there aren’t underlying problems. For instance, issues related to termites, structural defects, or electrical safety can remain hidden until they become serious problems.
3. How much can I save by skipping an inspection? While it may seem like you save a few hundred dollars upfront, without a proper inspection, you could face thousands in unexpected repairs.
Understanding Hidden Costs
According to recent statistics, approximately 1 in 5 properties in Australia have some form of major defect, which can lead to costly repairs. Here are some of the hidden costs you might encounter if you skip a building inspection:
- : These can cost tens of thousands to rectify. Addressing issues like subsidence or severe foundation problems can be a financial burden.
