Key things to look for during a home inspection.

Buying an existing home is a significant investment, and it's essential to ensure that the property is in good condition before making a purchase. A thorough home inspection can help you identify potential issues that might require costly repairs down the line. By knowing what to look for, you can avoid unexpected renovation costs and make a more informed decision. We will walk you through the key things to look for during a home inspection, helping you move into your new home with confidence.

Inspection checklist

1. Dampness and mould - check for damp spots, water stains, and mould, especially in wet areas.
    
2. Structural issues - look for sagging roofs, buckling walls, and rotting floorboards.
    
3. Cracks - inspect walls and floors for large cracks or gaps.
    
4. Gutters and downpipes - ensure gutters are rust-free and downpipes discharge properly.
    
5. Plumbing and electrical - test taps, showers, toilets, light switches, and check the fuse box and heating system.

Assessing structural integrity

Before buying, ensure the property is structurally sound and pest-free. A qualified inspector can uncover hidden issues and provide a detailed report, which can help in negotiating the price.

Evaluating renovated properties

If the property has been renovated, verify the quality of work:

• Building permits - ensure all renovations have proper permits and approvals.
   
• Real vs. Cosmetic fixes - check that critical systems like plumbing and wiring are updated, not just cosmetically improved.

Investor vs. Owner-occupied homes

• Investor-owned - may have cost-effective, low-maintenance renovations.
• Owner-occupied - likely to have higher quality, durable improvements.

Choosing potential over problems

Expect some wear and tear but distinguish between easy fixes and costly repairs. This approach can help you move into your new home with minimal renovations.

Navigating the complexities of buying an existing home can be challenging. The FinancePath team is here to help you make informed financial decisions and find the best solution for your needs. Contact us today to get expert advice tailored to your unique situation.

Call us at 1300 780 440 or book a 10-minute chat.