If you are looking to buy a new property, there are some things you need to consider and look into before you buy. Here is our expert real estate industry checklist, to help ensure you choose the optimal property to purchase.

Buyer’s Checklist

When Inspecting a Potential Property, Check:

  • Building Structure (foundations, plumbing, wiring, cracks, etc.)
  • Building Overhangs (does any part of the building overhang onto an adjoining property?)
  • Exterior Conditions (fencing, gutters, roof, eaves, roof, pipes, etc.)
  • Rain Damage or Leaks
  • Council Notices
  • Electrical Switches and Wiring
  • Water Pressure and Plumbing

Building & Pest Inspection

It is often advisable to hire a building consultant to determine the overall condition of the building prior to purchase. There are many ‘Professional Building Inspectors’ that offer this as a service and can undertake this task for you.
Professional building inspectors will provide you with a detailed report as to the condition of the building in order to give you a well-informed perspective as to its buying potential. This is especially useful should the neighbouring block be undergoing major construction. Most building inspectors will offer a guarantee for their service, and so should you wish to make a claim at a later date for structural damage you can prove it was caused by the construction works.
From a buyer’s perspective, this report may affect the offer you are willing to make on the property. It should also be noted, that a due diligent buyer will also ensure that the property boundaries are accurately marked prior to purchasing.

Buying Off the Plan

If you are looking into buying a property off of the plan, before it is completed, you need to have a clear understanding of the following:

    • What it will exactly look like once completed,
    • That you have an accommodation strategy between now and completion,
    • The quality of the build (a good way to check this is to look into past works done by the developer and/or building The exact settlement date, and
    • What happens should the property not be completed on time.

Local Council

      • Are there any neighbouring empty blocks, and if so, are there plans for units to be built?
      • Are there any plans for nearby shopping centre developments?
      • Are there any zoning or building restrictions on the property?
      • Is it properly zoned for your planned use?
      • Any special levied rates?
      • Are the plumbing and wiring legally connected?

Potential Costs

      • Property and Pest Checks
      • Title Searches
      • Rate Certificates
      • Legal/Conveyancing Services
      • Mortgage
      • Stamp Duty
      • Body Corporate
      • Registration

If you are looking to purchase a Brisbane property, North South Real Estate can help you find your dream home. Call today to speak to one of our professional and highly-experienced real estate agents.
Our highly-experienced and intuitively skilled team of real estate agents provide quality service in sourcing, securing and managing premium properties. As elite members of the Leaning Property Managers of Australia (LPMA), we receive exclusive access to the real estate industry’s best resources. North South Real Estate has a commitment to excellence, giving you the peace of mind you deserve from your premium real estate service.