How Much Does A Building Inspection Cost?

Before buying or selling a property, it is essential to identify any underlying defects, safety hazards or other potential problems.

A building inspection by a licensed inspector may help you to uncover any problems which could cost a fortune in the future.

Here's a few tips if you are weighing up the cost of a building inspection against the potential benefits it could offer.

Building Inspector checks items off list.

A building inspection is performed by a licensed building inspector to assess the condition of a building. A building inspection is usually carried out before buying or selling a property. You may also find it beneficial to your existing property to help you evaluate its current condition. Once an inspection is completed, the inspector will generally write up a report outlining the findings. This report should include details of any hazards and defects that have been identified, as well as things they have noticed that may cause problems in the future. For example, a stain on a wall could signal a plumbing problem which, if not attended to, could cause extensive damage to the structure of your property in the long-term.

A pre-purchase building inspection should be carried out before the contract is signed, which allows the buyer to conduct a thorough check of the property before committing. It may also be a condition of the contract, meaning that after the contract is signed you may have a period of time to arrange a building inspection and withdraw from the contract if it uncovers anything significant. It's also useful from a seller’s perspective. Conducting a building inspection before selling may highlight any problems with your property that need fixing before you put it on the market.

The cost of a building inspection can vary depending on factors such as the size of the building, its location and the type of inspection required. As a guide, an inspection for a small property may only cost between $200 – $300. This can vary for regional areas which are usually cheaper than those in metropolitan areas. As an example, an inspection for an average-sized home in a regional area is estimated at between $400 – $500, whereas an inspection may cost up to $800 – $1000 for metropolitan areas.

The cost of a building inspection is usually quoted and may vary depending on a number of factors, including:

This may affect the time it will take and whether there are any technical requirements. For example, NSW Fair Trading says that specialist inspections for mould or pests are likely to cost extra and inspectors are unlikely to include matters outside of their expertise. This means that an inspection which involves plumbing, electrical or gas may require a licensed plumber or electrician in addition to a licensed building inspector.

This may affect the type of inspection required and the time it will take. For example, an apartment above the first floor may not require a pest inspection as there is often less risk of termite or other pest-related damage. It could be worth seeking advice from a solicitor, conveyancer or inspector if you’re unsure about which inspections you should request.

The size of the property being inspected may affect the price as a one bedroom apartment will generally require less time to inspect than a five bedroom home.

The location. – the cost of your inspection may vary depending on your state, where you live within the state and the level of demand for these services in your area.