How to ask the right questions at a property inspection

Desperate to be pasting your own sold sticker on a freshly purchased property? Here’s a list of Q’s to get you started

For first-timers it can be tricky to know exactly what to ask at a house inspection. It’s overwhelming and there’s lots to take in, plus you’ve been saving for this purchase for years, so you’re pretty keen to know that the house you choose is the right one for you.

To help you nail your next property inspection and land a peach and not a lemon, we’ve rounded up the questions every potential homebuyer needs to ask – let’s get into it.

The questions you need to ask.

Why are the owners selling?
Was it because of structural issue? Or because the street is too noisy? Maybe they’re just looking to up or downsize? Asking this question is a good way of discreetly uncovering whether or not there are issues with the house or its location.

What settlement dates are the owners hoping for?
Asking this question will help you to gauge how eager the current owners are to sell. If the agent indicates they are looking to sell and settle quickly, then you might be able to negotiate a better deal.

Are there any major structural issues?
While the agent may be reluctant to broadcast any negative features of the home, if you ask them point-blank if there are any structural issues they’re likely to be straight with you. Notice a crack in the ceiling or a nasty looking water stain? Ask the agent if that will be fixed before the sale, or if it’s something you will need to have repaired post-purchase. You need to know if the home is worth what it’s being sold for and how much more work you may need to do on the house once it’s yours.

What will the property actually sell for?
As we’ve seen lately in the Australian housing market, many homes are selling for far more than their listed price, so don’t be afraid to ask the agent for a realistic price range so you know straight up whether or not the property is within reach for you. Before you ask that though, you’ll need to know exactly how much the bank is willing to lend you. Prior to heading out to inspections, head to a trusted lender like the team at UBank, who will walk through the financial process of home ownership with all of the wisdom and none of the jargon. Head to their website to tee up a chat.

What have houses in the area sold for?
If you’re not getting straight answers on what the genuine price of the home will be, it’s a great idea to ask what homes in the area and of a similar size and quality have sold for in the area. You’ll immediately garner whether the house is overpriced or if you are getting a good deal!

What year was the house built?
Some homes have had renovations or upgrades that may disguise the age and value of the home. Asking how old the house is will give you a sense of the structural elements you may need to take into consideration (like old plumbing or electrics for example) which could see you needing to invest much more money into the house than just the initial purchase.

How do I ask these questions?
The best advice here is to just be confident – you are well within your right as a potential buyer to be picking the brains of the expert on site, so don’t feel nervous to ask the tough questions.

 If you’ve made it this far we can only assume you’re ready to jump into your property journey (or at the very least, arm yourself with all the info so that when it’s time to jump, you’re prepared) – and if that’s the case then our podcast ‘The Property Playbook’ is the one for you!

Victoria and buyers advocate Amy Lunardi are taking you through the A-V of property (tehe) and it’s all being made possible thanks to our friends at UBank.

Ubank are working hard to help Aussies get on the property ladder, For more info on how UBank can help you find the perfect home loan, check them out here.

Any advice in this blog has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice on this information, you should consider whether it is appropriate for your circumstances.

Information current as at 15/09/21 and subject to change.  Terms, conditions, fees, charges, eligibility and lending criteria apply for all UBank products (available on request).

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