Why Property Inspections are crucial in a Cooling Market
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Why property inspections are crucial in a cooling market

What does a building and pest inspection cover?

The housing market is cooling down in Australia, with gross sales reducing as interest rates increase.

Whereas property costs have increased and bidding wars aren’t as prevalent, as demand for houses seems to be dipping in most markets. If you want promote your house sale, it’s essential to contemplate this new unbalanced market whilst you list your property.

Having a pre purchase building inspection accomplished by your house inspector helps set your property aside from others already on the market in your neighbourhood by being transparent and reducing risk to the buyer. Call it an inexpensive marketing strategy if you will.

The pre purchase inspection will give you detailed and unboased assessment of the property and any work that should be performed sooner or later, which might empower you to make some adjustments your self prior to selling to increase the sale value. Minor repairs/upgrades are a great way to increase the sale value of your home.

This helps take the guesswork out of the homebuying process and boosts confidence in your property.

property inspections cooling market

I found a bargain of a house, should I get it inspected?


Mosr definitely. The saying goes, “if its too good to be true, it normally is”. However, in a cooling market, as unortunate as it is, people are defaulting on their loans which means banks are taking back houses that home owners were unable to fund. Why does this matter? Well, when this occurs, banks generally want to sell the property as soon as possible to reduce their own losses, and this means bargains are around. A building inspection is always required to ensure it is an actual bargain and not a lemon.


Do I need both a building inspection and Pest Inspection if I do find a bargain?


Again, Yes! Also for the same reasons. Some unscrupilous sellers might want to get rid of their home fast and cheap because it has serious issues like termite damage. There is simply no other way to assess the true value of a house until a reliable independent building inspector assesses the property for structural and pest damage.

Can I negotiate the price of the house after a building inspection?

In short, sometimes. This totally depends on the level of the damage or problems detected. Large defects are much easier to negotiate, while small defects are unlikely to yield any results. In any case, it simply makes sense to hire a reliable building inspector who specialises in detailed building reports to negotiate the house price.

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