Buying a house is a big – not to mention an expensive – step to take. This is why it’s important that you know exactly what you’re getting into. After all, it will be the biggest investment you’ll ever have to make. If you think that the only thing you need to secure before signing the deed of sale is a certification of the building inspections Melbourne offers, you’ll be surprised that there are more factors you need to look into.

Building Inspections Melbourne

If you’re a first-time home buyer, this checklist will help you figure out everything you need to take care of once you start hunting for your new home.

  • Pre-Approval

Make your home-shopping a smooth process by getting pre-approved for a mortgage. This step is as crucial as building inspections Melbourne has to the success of the purchase. Keep in mind that pre-qualification and pre-approval are not the same. The former means getting an estimate of how you can spend on a house, while the latter certifies that a reputable lender has checked and verified your credit rating, which is crucial when applying for a mortgage.

  • Real Estate Agent

The success of your home-buying endeavor lies greatly in the kind of real estate agent you work with. It’s important that you hire someone whom you can trust to meet your needs. So, make sure you compare backgrounds and experiences of every agent you meet. A local agent can also recommend lenders who are trustworthy, saving you time and effort. Aside from that, they can also suggest reliable companies that specialise in building inspections in Melbourne, which is necessary before buying a house.

  • Financing

Aside from the financing firms that your agent will recommend to you, ask for referrals from family and friends. Once you’ve found at least three lenders, obtain quotes from them to get the best interest rate.

  • Building Inspection

Before you buy a house, you need to find Melbourne building inspections expert to assess the property. A detailed report must be requested in advance. This will give you an idea of what the finished report will look like, which should be at least 10 pages long and must include pictures of anything that will affect the price of the property. Melbourne building inspections beyond the standard one may also be conducted and are usually requested by a buyer, depending on the style and age of the house.

Once the inspection is finished, your real estate agent will submit the report to the seller as well as the estimated cost of repair. At this point, you can ask for a price credit from the seller. It would also be wiser if you have the repairs or renovations done yourself after finalising the purchase.

  • Appraisal

Aside from a professional in building inspections Melbourne has, you will also need to seek help from a property appraiser who will determine the value of the house you are going to buy. The appraiser must have a copy of the sales contract so he can verify what is being sold.

At this point, your agent must provide you a list of similar properties in the area. This will allow you to compare the improvements made on the property you want to buy, as well as tell you how much difference they made on the sale.

It’s best to be prepared, especially when you are going to make an important decision like buying a house. You want to make sure that the property you are buying is not only in top shape but also worth every cent. Try visiting their website at http://www.southeasternpropertyinspections.com.au/.