Pre Purchase Building Inspections Darwin NT 0800
In Darwin this year a 2 bedroom unit is going for a median house price of $500,000, which is pretty good if you're looking to sell! The flip side to this however, is that if you're looking to buy, it can be a bit pricey. The good news about that though is that you have plenty of time to work out your finances and find your fave place, because units are spending upwards of 190 days on the market.
Despite Darwin only having a capital gains growth of 2.3% over the past 12 months, it comes in 9th across the Northern Territory for best rent yielding suburb with over a 6% return.
If you put 20% down ($100k) on the property and borrow the rest, that means that over a 30 year fixed loan, your weekly mortgage repayments come in at around $495.20. That's pretty good considering the median rent is $590.
By paying an upfront cost of less than your weekly mortgage repayment, you can help to protect yourself from any hidden damages that a property might hide, like Asbestos or Termites. Definitely better than finding out after you've already signed the contract!
According to the Australian Bureau of Statistics the Northern Territory is one of the highest growing areas for mortgages; the average sitting at around 65%, while some places have seen as high as 125%!
Whether you're looking to sell your house or buy your first unit, make sure you engage with a licensed builder to come and complete a pre purchase building inspection or a pre sale building inspection to make sure there won't be any hidden damages or fees that can ruin the experience for you.
Asbestos, pests, termites and structural defects could further impact mortgage repayment pressures in the years to come.
When choosing a Building and Pest Inspector be sure to ask them the following questions:
- Do you have professional indemnity and public liability insurance?
- How long have you been inspecting houses in Darwin and the surrounding suburbs
- Are you a licensed builder?
- Will you check the roof of the house?
- How will you identify any pest, termite or rotting woods behind the walls?
- Do you know or have any affiliation with the real estate agent you are dealing with on the property being inspected?
If you are not satisfied with the Building Inspectors answers to each of these questions then contact another building Inspector in Darwin.
Our licensed property inspectors are always happy to answer all of the above, so feel free to book in an inspection
Phone: 1300 657 546
Booking: CLICK HERE