The Importance of Building Inspections & Strata Reports

Whether first home buyer, seasoned investor or renovation sensation, purchasing a property can be daunting. From choosing a suitable location to finding a property that fits the requirements, the last thing on a buyer’s mind is a building inspection or strata report. However, it should be considered essential to every property purchase.

Principal of Nicholls & Co Estate Agents, Cameron Nicholls says, “Requesting a building inspection or strata report pre-purchase will save thousands in potential repairs or legalities down the track. Some issues may be noticeable to buyers, where others may not come to light until it’s too late.”

A building inspection eliminates the unknown and alerts buyers to many crippling issues. These include:

  • Structural Defects
  • Safety Hazards
  • Defective Wiring
  • Poor Roofing
  • Damaged Plumbing
  • Unwanted Pests

A strata report concerns community titled and company titled buildings and should be combined with a building inspection. Strata reports provide precise details of the building. Some of these details include:

  • The current owner
  • Whether the building is insured
  • Does it comply with fire requirements, asbestos management and OHS Obligations?
  • Building defects or claims for defects
  • Is there disharmony?
  • Dollars in the sinking fund