A close relative of mine recently bought a house for a princely sum after only a single open home inspection. I asked him some obvious questions about the state of various aspects of the building, the interior, the fixtures, the pool, and the landscaping - and he could not answer the questions with any confidence. In fact, he could only recall some obvious positives of the property. The next time he will see it is when he will move in, so let's hope there is no lurking expensive issues to address!
So how do you get the most out of an open home inspection? These tips by Property Observer will help you avoid wasting your time, and panicking as you sign the purchase contract that you have not checked some key items in the house.
If you are house hunting you should know after your first open home inspection whether the property meets your criteria, what the risks/issues might be, and have a sense of the fair value. Do not waste time re-inspecting houses because you cannot remember details, or you forgot to check something! House hunting is difficult enough as it is and your time is precious.
Renovator Store has found this great article by Property Observer that provides essential tips to ensure you get the most out of your inspections - saving you time and helping you make the right decisions:
- Prepare - know the house before you inspect and bring everything you need
- Be early - take the opportunity to check out the street and area, and local noises and features.
- Engage the agent - have a chat with the agent and get on their buyer list. Thank them on exit and seek a followup if you feel the property will make your short list.
- Walk through - initial walk through points to look for, and a more detailed second walk through looking at the detail. "Buying Property for Dummies" highlights there are nine basics you need to look for in the street appeal, and rooms such as the kitchen, bathrooms, living/dining areas, bedrooms, laundry, garage, and the backyard
- Discrepancies - check the property features against the listing. Do not simply rely on what is marketed to you.
- Details - seek the documents and floorplans you need and make use of some of the fantastic smart phone apps - one can create floor plans for you on site. Take note of the interest and attendance on the day
- Other - learn to look past the staging (such as rented furniture and art), and have a keen eye for what looks like recent touch-ups and repairs
Click here to read this article by Property Observer and let us know below what issues and surprises you have experienced in-house inspections.