For investors and informed individuals, buying a new property is an enjoyable and stress-free experience. Armed with an understanding of market trends and basic property information, they can easily pick the best property that can fit their lifestyle and budget. But for many individuals with limited information about the real estate market, it can be a hit or miss. So how do you avoid buying an apartment or residential property with defects? Here are some things you should remember and steps to take.
Research the builder and developer. This is an important step to take especially if you are buying off the plan. You can visit the area and ask the owners regarding their experience and assessment of the property. Specifically, ask for issues that have crop up. You can also check out the portfolio and experience of the developer. Check out their previous projects and any remedial works that they have conducted for their properties.
Request for a professional building inspection. If you are buying in an established block, you can also request for a professional building inspection. Although this will only cover your specific unit and may not assess the common areas, it’s still recommended that you get an independent assessment.
Work with an established, experienced, and local structural engineering company. Speaking of inspection, it’s important that you always work with an experienced team of engineers who can provide structural inspections. They should be experts at structural engineering design, site inspection, inspection of cracks, and the drafting of compliance forms.