Buying a property for investment cannot be done carelessly and randomly. You need the right plan to choose the right one so that you make good investment.
Just look for the seller’s point of view.
If you want to sell your property, you will make it look presentable and hide all the flaws that will make potential buyers turn their back.
Then, as an investor and buyer, you need to be more diligent in finding those flaws so that you buy the right property and the money you spend is worthy.
To be able to spot any flaws both major and minor, you need hawk-like eyes. Brief and simple inspecting is possible if you have ability to find out every flaw of the property in just few minutes so you don’t have to waste your time.
Inspecting flaws of property you are going to invest in
It is easy to fall in love with stunning décor when you look at a property. However, the flaws you failed to identify will cause you to dig your wallet deeper especially if they are expensive to repair.
Before making decision you are going to regret, here are tips to inspect property before buying:
- You can investigate the property from the outer part first. You have to look for any damp rot at the join in the timber weatherboards. You also need to check the stump and find out if it needs major repair or replacement. Drainage and pipes are essentials part of the property you need to check. If the pipes cannot deliver water towards drain, it can cause you costly problem to fix in the future.
- You also need to check the roof especially if it is made from iron. If it looks too rusty to consider safe, you’d better find another property. If the roof is made from tiles, check if there are any missing tiles. If the roof looks saggy, it is not a good sign as well. It can cause leakage. You also need to check wooden structures and see if there are any termite damages.
- After checking everything at the outer parts, you can start checking the inside of the property. The first thing to check is the doors and windows since they are directly related to the safety. Check if the doors can open and close properly. You also need to check the windows and see if they have major or minor cracks.
- You need to check if there is any crack or damp. Make sure to check thoroughly even on the surface where the paint look fresh and new. You also need to check the ventilation if it works properly. Next, check the plumbing and pipes for leaks. Don’t forget to lift rug or carpet and see if there are any cracking tiles or holes behind the walls. Of course, there is no perfect property. However, you can make proper calculation of what to do in the future if you conduct proper inspection of the property you are going to buy.
Louise Bailey