17. June 2015 11:51
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swanvalleyrealtyblog
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You’ve found a home you like and are waiting at the door. Now what?
A buyer’s first inspection of a prospective property is kind of like going on a blind date. You have almost certainly seen some photos (always showing the home in its most flattering light) but will likely have many unanswered questions.
Will you ‘click’? Will it meet your non-negotiable criteria? What will it look like? Has it had a hard life? Will its internal wall colours make you cringe – or make you smile?
What is the point of a buyer inspection?
Independent buyer’s agent Catherine Cashmore says a property inspection is a golden opportunity to educate yourself about the bricks and mortar before you spend hundreds of thousands of dollars buying it.
She strongly advises all buyers inspect prospective homes or investments more than twice if planning to purchase.
Often a property looks great online or in a glossy brochure but as soon as you pull up at the curb you know it is not ‘the one’. Perhaps it backs a smelly industrial site or is next to a busy, noisy road? Perhaps its bedrooms are too small for your double beds?
You simply cannot know some things unless you have visited the site in person.
Photos can be illusive, so always make time for an inspection.
“Remember, the property is being presented for ‘sale’ so any visible flaws will be covered over,” Cashmore says. “For example, a dab of fresh paint can obscure cracks in the wall or careful placing of furniture can divert your eye away from possible defects.”
Cashmore strongly cautions against buying property without walking through it. “Whether a buyer or investor, do not purchase a property sight unseen,” she says.
“At the least, make sure an independent buyer advocate that you have paid and works for you inspects the home on your behalf. Photos can be illusive and you leave yourself open to the potential of buying a dud that’s impossible to sell on if you buy sight unseen. Don’t do it.”
Inspect and save: Could a property inspection save you thousands?
What should you look for?
Everything that determines if this is somewhere you or future tenants want to live. But don’t let groovy cushion covers sway you. This is your chance to probe this property, to measure, to push and to pull.
- Does everything open and shut?
- Do lights turn on and off without flickering?
- Do taps work and is the water flow adequate?
- Are there signs of water damage (i.e. peeling or bubbled paint work, mould, stained ceilings)?
- Do doors close smoothly or stick?
- Walk around the edge of each room and look up as well as down to gauge dimensions
- Walk around the outside of the property to check fences and the condition of the building’s exterior including gutters and down-pipes
Ignore the furniture and decor – take a tape measure with you and measure the bedrooms.
“Often hired furniture is smaller than real furniture and can obscure a room’s size,” Cashmore reveals. “Bedrooms need to be at least 3m x 3m in size – otherwise the room is a ‘study’ not a bedroom.”
Ignore the furniture and decor – turn your attention to floorspace.
Common missteps: 7 first home buyer mistakes
Ask lots and lots of questions
Buyers should try and arrange a time with the agent to visit the home on a private inspection.
Use this access to find out why the vendor is selling and ask questions that will help you work out the real value of the property.
Questions to ask yourself may include:
- Can I live with the floor plan?
- Is the toilet at the rear of the home too far from the bedrooms?
- Do the bedrooms run off the living area and be affected by television noise at night?
- Is the home going to adequately cater for my needs over the next seven to 10 years?
- Can I extend the property if I outgrow the home?
“When attending an open for inspection, it’s hard to think clearly with crowds of competing buyers squashing in and out of the rooms,” Cashmore says.
Try and visit during the day and turn off the lights to assess natural light.
“Don’t be afraid to open cupboards to assess storage space. When on a private inspection try and visit during the day and turn off the lights to assess natural light. Is it too dark to read a newspaper without putting the light on? Is there anything you can do to improve the situation? i.e. – sky lights for example.
“Concentrate on the things you can’t change (orientation, location) – not those you can.”