Purchasing a building is a very great decision in this economy. The cost of the building itself is already high so maybe you are tempted to not inspect the building beforehand. But realistically speaking, the risks in not hiring a building inspector can even be higher than the cost you need to spend to hire the building inspection service. These are some reasons why you really cannot afford to skip the pre-purchase building inspection.
A building might look pretty and majestic but if it will pose health risk to the people inside it, the value will decrease. Inspect the building for termites and pest infestation is a must because those things can spread very fast. Furthermore, if the building was built before the 90s, you must inspect the building for asbestos exposure. Asbestos exposure is the main cause of mesothelioma, a form of very malignant cancer, which is usually undetected until it is too late. Inspection becomes more important if you purchase the building for commercial purpose.
If you skip the pre-purchase inspection, you are actually buying the building blindly. Even though the building is new and looks amazing, it is hard to tell if the building has plumbing or electricity problem, or the quality of the construction is not on the good side. Those things that can be hard to seen with bare eyes, an experienced building inspector can detect them.
When the building inspector tells you that there are some problems with the building, you can make an informed decision. You can decide not to buy the building, or you can choose to buy it but you will have the chance to negotiate the price. From financial perspective, the risks in not hiring a building inspector is just too high so you really need to spare some budget for this to avoid spending more cost in the future.