You’ve found it – the house of your dreams. The kitchen is bright and sunny, the shed has heaps of space for your latest project, and the view from the master bedroom is simply divine. Now that you’ve seen it, it’s time to put in an offer.
Hold on. First you need a building inspection.
A building inspection involves a walk-through of the property by a certified building professional. The inspector can highlight maintenance issues, significant defects, inferior building work, and other issues that may have an impact on your decision to buy a property.
Skipping this vital part of the home buying process could land you in a world of trouble. You may buy a property that has piling issues, obvious water damage, or a drainage problem that could make it difficult for you to get insurance, live comfortably, or sell the home.
Once the home is yours, any problems are your responsibility, and it’s up to you to ensure you perform any checks prior to signing the dotted line.
Choosing a Building Inspector
When choosing your inspector, look at their qualifications. In New Zealand, there is no formal qualifications required to become a building inspector. However, most inspectors will be building professionals – usually ex-builders who are licensed building practitioners. Check for inspectors who are members of professional organisations that require certain qualifications and standards, such as the New Zealand Institute of Building Surveyors, the New Zealand Institute of Architects, and the New Zealand Institute of Quantity Surveyors.
Ask your friends and family for recommendations. People buy and sell property all the time, so someone is bound to have a name they can refer you to. Ask especially if the inspector identified any issues that changed their minds about a property.
Don’t ask your real estate agent – your inspector should be independent from your agent, to avoid a conflict of interest.
The inspector you choose should also have up-to-date indemnity and public liability insurance.
Can I ask a friend to perform my building inspection?
If you have a friend or relative who has experience with building, they could perform your building inspection.
However, you need to be aware that should they miss an issue that then crops up after you purchase the house, you’ll have little legal recourse and will likely ruin your friendship.
What should I expect to pay for a building inspection?
In New Zealand, most building inspections will cost between $500-1500.
When adding up the closing costs of purchasing a home, it’s easy to decide to skip the inspection in order to save money. We definitely don’t recommend this. Your home is the most expensive purchase you’ll likely ever make – use every avenue available to you to ensure there are no nasty surprises.
If you’re thinking about buying a new home, give Mike Whittaker a call to learn how we can help you get the best possible mortgage. Our services are completely free, so you have nothing to lose. Book your free no-obligation chat today!
