By JASON BLACKSHAWProperty inspection: Let the buyer be aware(photo credit: SHUTTERSTOCK)
Buying a home is one of the most expensive transactions an individual or a family will make in their lifetime. In addition, since many home buyers have to take out a mortgage, buying a home incurs a financial commitment of 20 years or more.Yet despite the large financial obligation that is entailed, many buyers assume a cavalier attitude toward their purchase and don’t take the time and trouble to ensure that their future home is in good condition and represents good value for money.Most people who buy a car, which costs a fraction of the price of a home, make the effort to take the vehicle to a garage for a check-up. This is to ensure that the car is in good condition, has no mechanical problems, and is generally worth the price. However, many home buyers are not so diligent.Check it out!Engaging the services of a reputable company to make a thorough inspection of a property to verify if it is in good habitable condition – and if it isn’t, to offer advice about what must be done -- should be a top priority for prospective home buyers. But many home buyers make do without expert advice, much to their future regret.This happens for various reasons. The buyers may be over their heads with the expenses involved in purchasing a home, such as mortgage, lawyer’s fees, and municipal taxes. Buying a home, especially for first-time buyers, can be a very demanding process, and adding an inspection consultant may seem like too much.In addition, many home buyers believe that they can determine if something is at fault with the property they want to buy and can assess if it is good value for money. This is a very common mistake, but one that can be very costly.The modern homePeople tend to believe that a building is not something that is very complicated or technologically complex, so any problems can be easily discerned by a layman. But that is not so.AdvertisementA residential building has always been a rather complicated matter, and even more so today when the “smart home” intensifies the complexity. The modern home is not just four walls, a ceiling, doors, and windows. It is practically a living organism with embedded hi-tech wizardry. Nowadays, making an in-depth inspection of a property includes examining the cutting-edge technologies and checking if they are operating correctly. Low-tech lowdownBut it is not only modern technology that is an issue. There can also be low-tech problems. These potential problems have to do with faulty construction, unsuitable or shoddy material, bad planning, etc. These can cause problems in a relatively old home or a newly constructed one.These problems are often difficult to discern, especially for people who are not experts in the field. These include issues such as mold; plumbing problems in both water delivery and sewage; electrical installations; and cables. Many of these problems may not be visible to a layman but are clearly evident to an expert.photo credit: SHUTTERSTOCKphoto credit: SHUTTERSTOCKphoto credit: SHUTTERSTOCKSomething old, something newNew buildings purchased directly from the contractor or developer may be expected to be in tip-top shape. But this is not always the case.With regard to new properties, experts can verify if the property is well built and if it corresponds with the building plans authorized by the relevant authorities.When buying a used property, it is advisable to engage an expert to examine how the wear and tear of time have affected the building; for example, if the electrical installations are in good working order; if the plumbing is functioning properly and is not causing dampness; if the windows and doors close properly; and if the former proprietor has undertaken any unauthorized work such as creating a window or door, enclosing a terrace, or illegally taking over space that belongs to the neighbors as well. An expert can also give advice regarding repairs if problematic issues have been found.Advice across the boardWhile one should seek expert advice when purchasing a home, this also holds true when buying a store or an office or any other asset made of bricks and mortar.It is advisable to engage the services of an inspection expert before buying a second-hand property or a new property directly from the builder/developer. Acquiring the services of a certified expert when buying a property in the planning or building stage is imperative. In fact, buying such a property without the advice of a reputable building inspection company is foolhardy.Yaniv Sandovski the CEO of “Hadas Building Inspection”, which has specialized in quality inspections for the past 40 years explains, “Many of those buying a home on paper – that is, while it is still in the building or planning stage – only get to see the finished product two or three years later. The sale is executed on the strength of a contract which specifies location, size and, most important today, the technical specifications. It is therefore essential that an expert not only verifies if the property is up to standard from a construction perspective but also that all the specifications of the original contract are met in full.”He adds, “An expert should be on hand to guide the buyer from the moment the developer gives him/her the key to the property to the point where the buyer accepts the property. After receiving the key, the buyer can accept the property if it is deemed to be in good condition according to the specifications of the contract. If not, the inspecting company will furnish the buyer with a report detailing all the faults and deficiencies. When the repairs are done, the company will make an inspection to see if the repairs are satisfactory. If the developer refuses to make the necessary repairs, the company will advise the buyer on the best way to seek redress.”
The article was written in association with adelle projects
