What you Must Do Before Buying Property in Victoria

First home buyers & property investors need to make sound investment decisions & it’s critical that part of the process of buying a home or investment property involves a pre-purchase building inspection.

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Purchasing a residential property involves a substantial financial outlay so your decision must be sound & steps taken to mitigate risk.

Anyone that doesn’t have their building inspected is potentially risking the safety of the occupants. It may also mean further property damage due to undetected structural damage & overlooked maintenance/repairs. This may result in delays in having tenants in your property or moving in yourself, due to unforeseen defect repairs & further financial outlay. These are the types of issues that property inspections can solve before they become a problem.

Home Building Assist are ready to help you reduce your risks & conduct a pre settlement inspection or pre purchase investment property inspection in Melbourne, Geelong, Bellarine Peninsula and Surf Coast.

You’ll ultimately have in hand a comprehensive report outlining the condition of the residential property & thereby make an informed choice as to how to proceed with the vendor.

Steps to Buy a House or Investment Property

We recommend you have a checklist to ensure you are taking the right steps when looking to buy a home or investment property.

Use the home buying checklist to keep you on track & save any issues post-purchase. You can download it for free here.

Checklist – Buying a House in Melbourne, Geelong, Bellarine Peninsula or Surf Coast Victoria.

• Look at the property type and sale prices in suburbs where you are looking to purchase
• Decide on the type of property you wish to purchase and whether it is for investment or owner/occupier.
• Decide on your budget incorporating any stamp duty or other costs and any government grants or concessions.
• Decide on your lender/broker if you intend to use a loan facility and repayment options.
• Attend some auctions in the areas you are looking to buy, to understand the auction process and the approach/techniques of the local agents selling the properties.
• Shortlist properties of interest including dates and times for viewing, auction or sale dates or properties you may approach privately. Keep detailed information in a spreadsheet including advertised price of a property and the sale price in your chosen suburb.
• Choose your conveyancer.
• Attend the ‘open for inspection’ dates for your chosen properties.
• Have us provide a pre-purchase residential building inspection as part of the contract of sale, to identify any concerns that need to be rectified in order for the sale to be finalised.