Glen Waverley, Vic Australia (PressExposure) May 16, 2011 -- The increased interest rate of 2010 have led to a slowdown in the Melbourne property market, making it the perfect time to invest in real estate. The lower prices will lead to higher yields in the long term, but simply because properties are cheaper than they used to be it doesnt mean that one should jump in without first doing their due diligence.
Investing in a property is a major commitment and involves significant costs, which is why one needs to take the time to ensure the property is sound from a structural viewpoint. Additionally, any faults with the building can be used in negotiations, helping to further drive down the price of the property. For this reason it is essential for investors to have a property inspected before signing on the dotted line.
With such a large investment, it is important to know the exact state the property is in because otherwise an investor can be faced with the less than pleasant situation of unexpected repair costs. If the damage is structural, the problem is even worse because it can cost an arm and a leg to have it repaired. This is why it is essential to have all the information prior to making a purchase, to allow an investor to make a fully informed decision.
Its true that not all faults with a property will be a deal breaker but the more information a buyer has, the more power he or she has in negotiations. Ergo, a pre-purchase inspection is critical and having it conducted by a highly experienced team is even more important.
SPI Property Inspections has been in the business for more than four decades and the team has more than 1,900 property inspections under their belt. This makes them the perfect partner for any investor who understands the value of having their property inspected.
For more information on SPI Property Inspections and how they can help you make the right decision, please visit www.spipropertyinspections.com.au.