Hi AO, yes, I recommend you do a pest and building inspection for a new home. Building is very obvious, you need to see if the builder cut some corners, etc. If the property is part of a strata scheme, then you do need to do some more checks too, your solicitor should know about this.
In regards to the pest report, see what happens is that timber sits in yards, warehouses, lawns, etc, before going in to the structure of a home and there is a potential here to get “infested” with white ants, termites, etc. These inspections only cost a couple hundred bucks and can save you thousands, this is what I call good leverage. Happy investing