Check

PROSPECTIVE home buyers should check for defects to houses by getting a pre-purchase property inspection, experts say.
Archicentre, the largest supplier of pre-purchase property inspections, said nine out of 10 people did not get an inspection on the home they bought.
Archicentre Victorian state manager David Hallett said people spent more time and money to check a $10,000 car to be roadworthy than an average home that cost between $500,000 and $1 million.
Archicentre inspection statistics showed more than 35 per cent of 120,000 homes inspected during the past decade had defects including illegal building, roof faults, faulty electrical wiring and cracking.
“What this means is when people purchase a home and are faced with hefty unplanned repair or maintenance bills they are dramatically at risk of over-capitalising and, if not well planned and managed, the purchase of the home ultimately can turn into a loss,” Mr Hallett said.
“People have usually borrowed to the limit and if expensive repairs are needed this is normally added to the loan, increasing the long-term debt and limiting financial return.”
Mr Hallett said at the very minimum prospective buyers should undertake their own comprehensive inspection, which was available on the Archicentre website.
“It is too late once you have signed on the dotted line and it is important to have the inspection done before signing the contract, or in today’s buyer’s market sign the contract subject to the inspection reports outcome.”