A new Domain report included an estimate that most home buyers only spend one hour inspecting a property before buying. With the REIV Melbourne median house price at $855,000, according to Domain, that is an absurdly small amount of time to determine it is the right one and to decide to such a large spend.

Making a mistake in homebuying, or buying an investment, has huge repercussions. Selling “the mistake” may cost around 3%, and buying again, especially with stamp duty, could incur 6%. Collectively, with the cost of removal and disruption overall cost reach could be 10%, a massive $85,000!

The article lists a few ways to avoid such a debacle:

>Make a checklist

>Give yourself more time.

>Bring in professionals.

If you are setting out the quest to buy and house, unit or apartment it a very good article to read…..

https://www.domain.com.au/advice/the-hit-list-heres-how-you-can-make-the-most-of-an-open-home-inspection-20180601-h10eol/