Tuesday, 10 May 2011 12:11
Archicentre has responded to the rising costs of living and the increased risks of home buyers and investors purchasing property by introducing a Building Inspection Report costing from $330 which complies with the Australian Standards.
An Archicentre architect inspects the roof of a property
David Hallett, Victorian State Manager of Archicentre said, "the new report provides home buyers with peace of mind on the big ticket items such as the overall soundness of the building including the floor, roof and walls of the home.
"These are the big ticket items which can be costly to repair and are a priority for home buyers.
"People are often very surprised when they learn that in all Australian States and Territories, other than Queensland, literally anyone can carry out a building inspection, with no need for any qualifications, experience, registration, insurance or building fault knowledge!"
Mr Hallett said with an Archicentre Building Inspection the home buyer has their home inspected by a seven year trained, registered and practicing architect, hands on and experienced with housing construction issues.
'It is vital people hiring anyone to carry out a property inspection to ask if the person is independent and does not also undertake repair work, is qualified and trained in building fault detection, has professional indemnity insurance and offers a written guarantee.
"To provide further peace of peace of mind each Archicentre Building Inspection comes with a $15,000 Guarantee offer from Archicentre in relation to any serious structural defect found within 12 months of the inspection," Mr Hallett said.
"The average home buyer purchases three to four houses in a lifetime as a way of building wealth on the back of property values rising as they upgrade their major asset, the family home, as a tax free investment.
"This wealth building strategy can dramatically collapse if people purchase a LEMON with major faults and face tens of thousands of dollars for unbudgeted repairs costs."
Archicentre's market research has found that an estimated 80% of the people bidding at auction do so without any real knowledge of the quality of the property they are bidding for and what repair costs they may face once they sign the contract of sale.
In Archicentre's experience often any problems with the structural integrity of the home may only become evident three to six months after people have moved in and start to notice the issues. These signs may vary from leaky roofs - usually after a severe rain storm; cracks appearing in plaster work - a tell tale sign of a building potentially needing re-stumping, or in more extreme cases complete foundation underpinning, which could cost up to $150,000 for serious cases.
Mr Hallett said the normal practice is to add the cost of repairs onto the mortgage, which escalates the cost with the additional interest payable over the normal 30 year mortgage, making the cost of not having a property inspection a very expensive mistake.
Archicentre will continue to offer its Premium Property Inspection that covers the condition of all aspects of the property including the soundness of the main home, fixtures, fittings and finishes, services such as power and water, and outbuildings, fences and garages.
Ron Smith, Corporate Media Communications, Archicentre - Mobile: 0417 329 201