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Why Your Building’s Age Is Unimportant And Structural Audits Are Crucial For Every Property

There is a very common misconception that is often seen in the property owners, they believe that older buildings are automatically prone to more problems than newer buildings. But that’s not the case; older buildings necessarily do not need to have more issues like deterioration and wear and tear. Also, it is not evident every time that the newer buildings are free from any complexity. The overall health of a building is not dependent on age but instead the structural integrity.

Structural integrity includes the foundation, beams and walls that are keeping the building intact. It can be the case that a building that was built years ago is more meticulously maintained, and newly constructed property is poorly built and assembled. 

No one can clearly determine whether the new or the old one has the full potential to give you calmness of mind before structural audits. Structural audits let you seek an in-depth look at any potential weakness and risk which might be overlooked during the constricting or purchasing of a property. 

What Do Structural Audits Mean? 

If you ever get the chance to work in the real estate industry, there are many forms of audits and inspections. Among all of them, one of the most important ones is the structural audit. A structural audit means assessing a building for its overall stability. The overall stability concept includes investigating a building’s foundation, walls, roof and columns. This process ensures that a building has achieved all the critical elements to be able to be strong enough to bear the usage and weight of a building. Structural audits include.

Focus: the main focus of the structural audit is the integrity of a building’s structure

Purpose Of Audit: The purpose lies in spotting the early signs of structural damage or degradation.

Why Are Structural Audits Important?

No matter if you are living in a space for more than twenty years and you are about to purchase a new home, you need to invest in structural audits to ensure the safety and longevity of a building. Here are the reasons why you should prioritize structural audits regardless of the building’s age.

Preventing Long-Term Failures 

In the beginning, when structural deformities start happening, people usually don’t address those problems because they seem to be quite minor, which should not occur. After all, structural corrosions extend over time. Neglecting small damages can lead to catastrophic failures if not addressed. Conducting structural audits can let you address significant risks which seem nothing but, over time, can grow significantly.

Property Value

According to the Real Estate Institute of Australia, there is a 20% more chance that buildings that have verified structural suit documentation are sold at higher prices. A building that is regularly inspected and kept in good condition by the owners tends to have high property value.

Safety Of Occupants 

Forget everything; the most important reason for conducting the structural audit should be the safety of occupants. Who doesn’t want to live in a safe environment with minimal risks of accidents, injuries or fatalities? Everyone does. Regularly maintaining structural audits protects the buildings and helps occupants address potential hazards on time that can become real-time threats in future.

Long Term Cost-Effective 

Structural audits help occupants to save money by addressing minor faults on time. Catching early defects is far much cheaper than investing a bulk amount for major repairs and that can be because of undetected damage.

Conclusion 

Don’t let the overall look of the building mislead you into thinking that you are residing in a safe home. Book professional Auditors that can come to your place and do in depth structural audits to examine whether there is the need to take the necessary steps to maintain the overall health of a building or not. Age doesn’t matter; the safety, value and functionality of a building do matter. Take the necessary steps now.

Vinodh Mahadevan MRICS

Vinodh Mahadevan MRICS

Managing Director of Investment Advisory, Land Sterling MENA

Vinodh Mahadevan is the Head of Business & Strategy at Land sterling and a Member of MRICS. With over 15 years of experience in investment advisory, consulting, valuation & advisory services, he has gained extensive exposure to valuation engagements. Vinodh's expertise includes due diligence exercises, appraisals of commercial and residential properties, mortgage and collateral appraisals, retail malls, large-scale industrial parks, hospitality and entertainment projects, and other special use real estate valuations.

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