Buyers are adopting an increasing array of technology solutions to help them find their next dream home.
A new survey has found that more than a quarter of all buyers, estimated at 1 million Australians, are now inspecting properties using digital technologies such as 3D virtual tours, chatbots and artificial intelligence.
The research by Zoom Qualtrics, on behalf of property technology company Little Hinges, found that 58% of buyers took a hybrid approach to inspecting properties.
Interstate buyers and investors were the two segments most strongly embracing the technology.
The Little Hinges Sight Unseen Report used the Gold Coast as an example of a market increasingly dependent on new technologies, revealing that almost 40% of prospective buyers were outside Queensland.
“Virtual tours are an innovation in the 3D inspection space,” the report stated. “Coupled with chatbot automation, virtual tours can be delivered to mobile devices via social media.”
3D virtual tours are said to be accurate within a millimetre, allowing buyers to measure whether their furniture, or even their fridge, will fit neatly into a home.
Little Hinges said the accuracy of the tours gave “potential buyers a true representation of a property, increasing their willingness to make their highest offer” without actually visiting the property.
Of course there are some crucial inspections you can undertake if you visit the property in person.
Structural integrity
You should always commission a building inspection once you’re serious about a property. But even on your first visit, you should check the foundation, walls, and roof for issues. Cracks and water damage are red flags.
Water works
Turn on taps and flush the toilets to assess the water pressure and whether there are leaks or drips.
Spark up
Test some of the power sockets and lights to get an idea of the electrics. Also, it’s a good idea to ask about the age of the wiring and circuit breaker panel.
Rotten job
Windows and doors often have problems. They can rot quickly and be expensive to replace if they’re not well maintained. Open and close the doors and windows to ensure they don’t stick.
Be cool
Ask for the aircon to be turned on to gauge how the cooler air is distributed through the property.
Write stuff
Take notes of all the problems you see and any repairs or renovations that may be needed. Factor these into your buying decision or the price you’re willing to pay.