Homebuyer question: What do I look for when inspecting a house?

House inspections are a necessary part of the home buying process—after all, you want to know what you’re buying. However, there’s more to inspections than taking in the looks of the new place you’re thinking of purchasing.

1. Personal inspections

One of the first things on the agenda should be the inspections you go to yourself. When looking at your new place, don’t just consider what the house looks like. You should consider the neighbourhood that it’s in and whether it is in line with the kind of place you want to live.

Also, think about potential noise pollution such as nearby rail lines or highways. In addition, you should consider what the type of home is ( apartment, town house, detachable , etc.) as one type might not work for your living situation. This may be as simple as an apartment with no car park.

2. Building inspection

While you should be able to assess whether a home is liveable for your situation, you’ll probably want a professional to inspect the actual condition of the building itself.

With a building inspection, you’ll get a report of any issues such as structural problems, infestations, possible asbestos (for older buildings), mould, and any other issues that might arise. Do note that there will usually be some problems with the property, so it isn’t always a no deal.

Also, keep in mind that building inspectors will need a few days' notice before undergoing an inspection, so make sure to plan things out.

3. Pre-settlement Inspection

Okay, so you’ve finished your personal and building inspections and feel like this is the kind of place that you want to live in. But, hold your horses, because there’s still one more thing to figure out here: the pre-settlement inspection.

A few days before the final settlement of your property, you’ll want to make sure that the property is still in the same condition as when you signed the contract. This is particularly important when you buy through a real estate agent as settlements can take much longer than would occur during an auction.

You generally want to be looking out for any damages when doing your pre-settlement inspections so that you can have repairs undergone before you move in to the new property.

Figuring out the right property loan for you

Buying a new home is a long process with a lot to keep in mind, and one of the first steps is getting your loan figured out. At Mozo we compare home loans from providers big and small so that you can figure out what loan works best for you.