There’s an old saying that you should never judge a book by its cover, and this is true for houses – after all, who would buy one having never seen more than the front door? Open inspections are opportunities to really flick through the pages, and here’s how to take full advantage.
Really use your senses:
Sniff, peer, listen and feel as much as you can. Your nose might pick up a mouldy or musty smell that may mean damp. You might spy small or hidden cracks that could mean structural issues. That clattering sound when water is running? That can be a sign of serious plumbing problems.
Don’t be distracted by the beautiful bling:
Anyone can invest money in pretty cushions and lamps to set off the house. Or bake some cookies just as the open inspection starts so the house smells cosy and homey. But when buying property, you’re buying the sausage not the sizzle, so look past the perfectly presented and lit lounge room to the size, shape and placement in the floorplan of the actual room, and imagine how you will use it.
That means checking the roof on the way in and looking at the ceilings in the rooms. Damp and leakage issues are costly and notoriously hard to fix. And once the rot sets in, it’s there to stay.
That kitchen and bathroom advice:
It’s true what they say. If these two rooms aren’t how you would like them to be, are you prepared to live with it or spend the money required to transform them? According to Archicentre, kitchen renovations in Australia have an average cost of $10,608 to $31,722, provided that the room is in good condition and doesn’t need any significant structural renovation. Bathroom renovations will be upwards of $10,000, and probably a lot more.
Look at your surroundings:
Who and what are your neighbours? Check out the location at different times of the week and day. It may sound excessive, but maybe the house is under a window-rattlingly low flight path only when the weather is bad, there’s a bar across the road that blasts out loud music in the early hours but is closed during the day when inspections are on, or there’s a business down the road that when the wind blows a certain way sends nasty smells wafting. If you have kids, what are the local school like? What is the local crime rate?
Ask lots of questions:
What are the utilities like electricity, water, gas costing the current residents? As the Property Institute says, a home with large windows seems bright and sunny, but it can also make for warmer rooms in the summer – a problems that can make for higher electricity costs. It’s also important to ask about previous repairs and renovations; if something goes wrong down the track it can be good to have a history.
Have a pre-purchase building and pest inspection:
This may seem obvious but many houses are bought and sold without one. Home inspectors are trained to find flaws in a home that your untrained eye may never see as a problem, but may cost a lot to correct down the line. If it’s your dream home, you may choose to buy it even with structural or pest problems, but you’ll no doubt be able to negotiate on price.
Before you start looking at homes, get some smart mortgage advice about how much money you can borrow and which type of loan suits you.
If you’d like an obligation-free assessment of your finance eligibility, or any other questions you may have, I would love to hear from you.
Cairns Mortgage Broker – Jason Thomson is a Mortgage Adviser and Finance Broker based in Cairns with clients all around Australia. Over 100 client reviews featured on his website prove that Jason is a trusted industry professional, facilitating great outcomes for his clients. Using his wealth of experience in financial services, he thrives on delivering superior service. Jason is very approachable and is always looking for new clients to help in the often confusing world of finance and property. Offering a no fee service, you’ve got nothing to lose by having an obligation free chat with Jason today.