Pre Auction Building Inspections Mount Eliza 3930
Mount Eliza, the suburb situated right next to Mornington, is a hot ticket location for property sales at the moment.
A 3 bedroom house at the moment will see you spending upwards of $840,000. On average, the properties in Mount Eliza see an auction clearance of 58%, and only spend 55 days on the market before being snatched up.
Mount Eliza has seen quite considerable growth over the past year, with median house prices adding a cool $100,000 to their value. That's an increase of 11.92%, compared to the average 5 year growth of only 6.5%.
If you've saved up the “industry standard” of 20% of the home-loan that you'll need, you're still going to have to take out a loan for nearly $680,000. With 5% interest on a 30 year loan, your weekly payments are going to come in around Fortnightly payments are going to come in at close to $1700.
According to the Australian Bureau of Statistics nearly all of Victoria has seen an increase in mortgage costs of about 43% from 2006 to 2011, and will probably show this steady growth for a few years to come.
So to make sure that you're not going to be financially hard done for the next few months, make sure you book in to have a registered building inspector come through the property before you even consider buying a house at auction! There would be nothing worse than having put down for the deposit for a house, moving in, paying $850 a week, and then finding out that the house needs serious renovations done to even bring it back up to code and a livable standard.
No matter what your end goal is with this property; investment or a forever home, make sure that you cover all your bases by getting in a professional to do a pre auction inspection that also covers asbestos, pest and termite inspections.
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 Mount Eliza and the surrounding area?
- 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 pre purchase building inspector in Mount Eliza.
Our licensed building inspectors are always happy to answer these questions, so feel free to book in an inspection!
Phone: 1300 657 546
Booking: CLICK HERE