All Topics / Help Needed! / is property inspection worth the investment for off the plan?

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of asouasou
    Participant
    @asou
    Join Date: 2015
    Post Count: 23

    I have purchased an off the plan 2 years ago and settlement is coming soon. Does anyone have experience if it is a good idea to pay and get a property inspection done before settlement? If yes, then how much will I need to spend and what types of inspection is needed? Any recommendations?

    Profile photo of Mandy114Mandy114
    Participant
    @mandy114
    Join Date: 2015
    Post Count: 4

    Hi Asou,

    I read your question and had to share my experience. The answer to your question is YES YES YES.

    I have recently done the same and at the last minute decided to have a building inspection done and I am so glad I did.

    It turns out that the gas was not connected to the mains, wiring was incomplete, oven not connected properly among other things. Thanks to the inspection I was able to force the builder to complete all these things before settlement.

    I would have thought it unnecessary to inspect a brand new property as well but this has probably saved me thousands of dollars and hours in trying to chase up the builder. This cost me about $350 and was money well spent.

    Just my 2 cents worth.

    Good luck!

    Mandy

    Profile photo of oncebittentwiceshyoncebittentwiceshy
    Participant
    @lambchop23
    Join Date: 2014
    Post Count: 12

    Hi Asou,
    I totally agree with Mandy, for a small outlay on a big investment. Inspections i believe are a must.You should receive full report with photos.Spend a little now and save a packet later.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Yep – for sure. It’s a small price to pay for such a massive purchase. Just because it’s new doesn’t mean it won’t present with issues.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of KatarinaHKatarinaH
    Participant
    @toddy2015
    Join Date: 2015
    Post Count: 10

    Fully agree with both. Additionally – make sure you do a proper walk through yourself and lodge both the building inspection and your defects / comments with the developer. No matter how small you think it is or not worth noting – write it down. That way at least it is on record for the follow on defect inspection (which should happen within 4-6 months of practical completion). Hope you enjoy the property.

    Profile photo of asouasou
    Participant
    @asou
    Join Date: 2015
    Post Count: 23

    Hi Mandy114/oncebittentwiceshy/Jamie Moore/KatarinaH

    Thank you so much for your advise. I completed my final inspection like over 1 week ago. The agent left me a text the night before the inspection and so I had no time to organise a professional inspection to be done onsite. I didn’t know what I had to do and just went over the checklist based on my thought and hand it back to the agent. The agent said I have 90 days warranty after settlement. So I am hoping to get a professional to come onsite and do it one more time properly. Do you have any recommendation I can use?

    Profile photo of oncebittentwiceshyoncebittentwiceshy
    Participant
    @lambchop23
    Join Date: 2014
    Post Count: 12

    Asou,
    What area is your property? Other alternative is to google Property Inspections Report. There should be links for you to follow.I paid around $350 for report. Well worth it as we also had defects that needed attending too.They should report on interior as well of exterior. Let us on on how you go?

    Profile photo of asouasou
    Participant
    @asou
    Join Date: 2015
    Post Count: 23

    it’s the new building in Blacktown. Settlement date is expected to be in 6 weeks. So, I can’t do my inspection until then.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    There are companies which specialise in building reports for new builds, who know what defects can be hidden in new builds especially.

    I’d definitely spend the money on it, as very small defects can cost you a LOT of money.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

Viewing 9 posts - 1 through 9 (of 9 total)

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