Buying a self-renovated property

With the plethora of television shows focused on home improvements substantially increasing in popularity over recent times, so too are many Australians being inspired to engage in Do-It-Yourself renovation projects in their own homes. 

While many of these renovations are no doubt completed with finesse, there may be the possibility of some such projects potentially containing faults if they have not been undertaken by a professional, experienced builder.  For prospective buyers considering properties – such potential issues may not always be immediately clear. 

It is for this reason that I would encourage all buyers to go through a thorough building inspection before committing to the purchase of a property. 

Engaging a professional company to undertake a thorough examination of a property will enable buyers to not only identify any pertinent issues that exist in the property now, but also those potential issues that may arise in the future. 

As a result of such an inspection, prospective buyers can gain a sound understanding of what (if any) repair work is necessary now, along with an indication of the remediation which may be needed at a later date – as well as with any associated costs.  

Such an upfront, realistic appraisal of a property gives buyers peace of mind and confidence in the knowledge that they know exactly what they are purchasing.  Whether buyers decide to purchase the property regardless of any faults, or if they feel that the potential costs outweigh their love for the property and do not take the purchase any further – the important thing is that they were in a position to make an informed decision.

In summary, there is no doubt that many DIY projects are spectacular renovations that have been completed in a cost effective, safe, professional manner.  However, with the risk of a faulty project having been conducted in a property you are considering the purchase of, it is recommended that you have a thorough, professional property inspection conducted prior to purchase. 

Posted by Charles Tarbey on 16/01/2012 at 10:12 AM | Categories:

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