Should I Get a Building & Pest Inspection on a House I’m Buying?

Found a potential home? Completing a building and pest inspection is important to ensure there's no hidden surprises once you’ve moved in!

Why is a building & pest inspection important?

A building and pest inspection will check your potential new property for defects that can’t be seen by the ordinary eye. These may include:

• Structural defects such as cracks or unevenness in the foundation, improper installation of frames, leaking or poor installation of roofing materials, etc.  
• Cosmetic defects such as wall and ceiling cracks, uneven flooring, exposed gaps between walls, etc.
• Pest damage such as termites; historical damage, existing damage and preventative care.

The report generally doesn't include quotes to repair any findings, but your conveyancer can assist with your rights and options to proceed should anything be found.  

Building and pest inspections also don’t include plumbing, fixed appliances or electrical and you’ll need to seek further guidance on this, if you are worried.  

Who can complete the inspection?

It is important that you use a licensed professional such as a builder, surveyor or architect to complete your inspection. This check can be vital to understanding the ongoing condition of the home you will be taking ownership of and any areas that will need your attention, so engaging a licensed professional is recommended.  

What if there are defects and/or damage?

Majority of sale contracts will include a cooling off period or a building and pest clause At the completion of the report, if you choose not proceed, the cooling off period or building and pest clause will be vital for the termination of the contract.  

Buying a home can be overwhelming! Learn more about the process and things to consider here.  

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval; satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000.

Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.

* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.