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Don’t gamble with your investment

So you’ve finally fallen in love with the property of your dreams. It looks great inside and out and because you pre-arranged your finances you’re super keen to sign on the dotted line.

But in the words of property expert John McGrath, buying a property without having a professional pest and building report “is gambling, not buying”.

Buying a property involves a huge financial investment that can sometimes go into the millions of dollars. Having a professional look over the house makes perfect sense. Even if the property does have some issues, this could prove to be a price negotiation point or they might be affordable for you to repair.

Jason Wier runs Inspection Angel (www.inspectionangel.com.au ) an Australia-wide pre-purchase building and pest inspection services directory.

Pest inspections and pest control covers a wide range of animals and insects and also depends on where the property is located, Jason says. He advises pre-purchase pest inspections on all properties for two reasons. First of all a professional inspector can provide an objective view, he’s not in love with the house. Secondly, think of it as protecting your investment, he says.

“In order to ensure you get the best results from your desired pest control solutions it is important you are using a pest control service that is familiar with your location and an expert on the species of pest that requires control,” he says.

“Check that the pest inspector is a member of the Australian Environmental Pest Managers Association,” he advises.

“Check that the pest inspector is a member of the Australian Environmental Pest Managers Association,” he advises.

For house buyers wanting a building inspection of an existing house, they should ask for a home inspector, inspection and report as per the Australian Standard 4349.1 1-2007 Inspection of Buildings – Pre Purchase Inspections – Residential buildings.

If the buyer is after a timber pest inspection they should ask for a qualified inspector, inspection and report as per AS4349.3, he says

Having a pest and building inspection carried out is not compulsory but is highly recommended.

The standards are pretty similar state to state, though there is different content pertaining to the area that the property is in. For example, the building standard in cyclone-prone far north Queensland would be different to the areas of Melbourne where new bushfire standards apply.

Next time we will take a look at unravelling some of the jargon in the property market and conveyancing and advise you how to make sense out of it all.

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