It is the buyer who pays for a building and pest inspection. As a responsible and smart buyer, you should do your due diligence and getting a better lay of the land, so to speak, by having an expert assess the property you are interested in prior to closing the deal.
How much you’ll pay for a building and pest inspection will mostly depend on the inspector’s qualifications and level of experience, and how detailed or complicated the inspection is going to be. The costs can range from a few hundred dollars to $1000. A building inspection in Melbourne is a separate service from a pest inspection; but some companies offer a combined package at a lower cost.
Purchasing a property is already a substantial investment, and adding even just a few hundred dollars to your expected expenses, much more $1000, could seem like a few hundred dollars too much. But when you consider the savings you’ll make by avoiding costly repairs from undetected issues, then you will realize that making room for a building and pest inspection in your budget will be worth every dollar.
When you pay for a building and pest inspection, you’ll be able to make a more informed purchase. A standard building and pest inspection will let you know of any structural issues the property may have, both minor and major; maintenance problems; future risks for damage; safety hazards; and signs of previous or current pest activity or infestation. You’ll find out if immediate and/or preventive repairs are needed, and if the property’s current condition is typical given its age, type, and location.
Having a better idea of the overall condition of the property will help steer you in the right direction – whether to go ahead with your purchase or to withdraw from the contract. When your inspector submits his report to you, you should also set aside some time to discuss with directly the results of his inspection and to clarify items that may be too technical.
Depending on the results of the building and pest inspection, you can be in a better position to renegotiate the price of the property. You can, for example, request that the estimated cost of all necessary repairs be deducted from the property’s sale price. Or when adding a “subject to building and pest inspection” condition to your contract, you can specify which repairs should be shouldered by the seller, should any issues be detected.
Undetected future liabilities will end up costing you a lot more compared to how much you’ll pay for a building and pest inspection, and even if you add the costs of necessary repairs. And then there’s the peace of mind you’ll get to enjoy when you know your investment will guarantee the comfort and safety your family deserves.
Only hire an inspector who is not only highly qualified but also has many years of experience under his belt. Someone who is also more than familiar with the location would also be an ideal choice. Make sure that the inspector is covered by insurance, especially for professional indemnity. And ask if the company offers a combined building and pest inspection.