How to make the most of an open for inspection

Buying a house is a high-pressure operation. After years of saving, the real decisions can often come down to just 30 minutes – the average length of an open for inspection.

Which, when you think about it, is less time than you’d spend watching a single episode of The Block. So how can you make the most of the limited time available, without getting caught up in the heat of the moment?

Property lecturer and author Peter Koulizos says going in prepared is the best way to kick things off.

Before you even get in the car, look up the property – and surrounding area – on Google Street View.

“It’s not just the house you’re buying; you’re also buying into the other streets of the neighbourhood,” says Koulizos.

“When you get to the property, before you walk in, again have a good look around. Make sure you have all your senses switched on.”

Listen for noises – are you under a flight path, or near a main road? – and sniff around for any potentially alarming smells.

Koulizos says the most important rooms in any property, or at least the most costly to change, are the kitchen and the bathroom.

Can you smell mould or dampness in the bathroom? Koulizos recommends looking in the corners of the ceiling for potential mould.

However mould can often be easily rectified. It’s salt dampness that can be the more expensive problem, says Koulizos.

“For dampness, don’t just look at the inside, look on the outside (walls). Run your hands along the mortar to see if it crumbles away.”

While you’re outside, check the home’s walls for major cracks.

“If you can see a crack on the inside, go to the corresponding wall on the outside too. If the crack goes all the way through … that could be a structural issue,” says Koulizos.

A simple plaster crack is generally easier, and cheaper, to fix.

Koulizos says buyers shouldn’t get too wrapped up in the existing colour scheme or carpets, which are both easily changed. Likewise, an airconditioning unit can be installed later if that’s important to you.

“It’s the size of the house that is very expensive to change,” he says. “If it’s not enough bedrooms for example, or you desperately want two living areas, that’s going to cost a lot of money to add on later.”

Simon Cohen, managing director of property buyers’ agency group Cohen Handler, says you should ask for as much documentation as you can. Grab a brochure with the floor plan, which you can study later, and ask for the strata report to be sent to you.

Finding out about the surrounding buildings is crucial, says Cohen.

“You want to make sure what’s next door, is it a house that can go up?

“Is it a block of flats, is it a housing commission – is it shops that could be noisy?”

Check out the parking situation, and whatever you do – don’t get sucked in by the stylist’s furniture, says Cohen.

General buyer mistakes? “They don’t look enough, they get emotional … they don’t see the furniture and the fresh coat of paint,” he says.

“The thing is, it’s such a short period of time and there are generally heaps of people there. Try and make a private inspection.”

Peter Koulizos’ extra tips

• Go early. “Be the first one to go in and the last one to go out, and go more than once.”
• Work out five things that are non-negotiable
• If you’re inexperienced, take someone along who’s more knowledgeable than you.

Source: www.domain.com.au