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Buying an Established Property

Real Estate Planning with Anna Manning

· Buyers Tips

Established homes have a certain charm and character about them that many home buyers find attractive.

Often they offer excellent value in comparison to building or buying new. You will want to discover, relative to the age of the home and price, the cost of any maintenance required prior to purchase as you will need to factor in the cost to address these once you take possession of the property.

 

One way to give yourself peace of mind about the property you’re buying is to arrange a building inspection with a reputable building inspector. This will help to inform you whether the property is structurally sound and what expenditure you can expect in the near future such as repairing the roof, plumbing maintenance, replacement of insulation or an inadequate hot water system.

 

It’s common (and advisable) to have a ‘satisfactory’ building inspection report as part of the ‘Offer and Acceptance’ contract you sign when buying the property.

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