5 steps to buying rental property
February 11, 2020Are You a Desirable Renter?
February 11, 2020Conducting effective inspections is a key part of the journey to buying a home regardless if you will be living in it or not. You want to find a home that’s both a nice place to live and a good investment and a thorough inspection will helps you gather the information you need to make the best decision.
Conducting effective inspections is a key part of the journey to buying a home regardless if you will be living in it or not. You want to find a home that’s both a nice place to live and a good investment and a thorough inspection will helps you gather the information you need to make the best decision.
Here is Rosie & Rosie's guide to making the most of a property inspection:
Take in the home as a whole
Walk through the whole property and think about how it feels to be there. Ask if it meets your needs and if you can see yourself living there. Use all your senses for this, not just your sight. For example, listening to the sounds of the area will give you an idea about traffic noise and neighbours. Lingering odours give great clues about issues such as mould and water damage.
Don’t be shy – inspect everything
Turn on taps to check the water pressure and any issues with leaks. Look in all the cupboards for any signs of damage or mould. Try the light switches, windows and doors to see if they are working properly, and look under rugs, where possible, to check the floors.
Remember the things you can’t see
Some elements of an inspection require a trained professionals to examine. Problems such as termite infestations or issues with structural integrity can be invisible to the untrained eye.
Because of this, it’s important to organise a range of third-party checks. These include a building inspection to evaluate the structural state of the property, a pest inspection and a surveyor’s report. These inspections come at a cost, but they are worth it to avoid far more expensive outlays down the track.
It is also important to conduct research on the home you are interested in. Look for environmental hazards that could place the property at risk and drive up insurance costs, such as bushfire and flood zones. Check with local council and government for zoning regulations and proposed developments that could impact your property. If the home is part of a complex, obtain a strata report and read the by-laws that apply to see that the complex is a good fit for you. Visit the neighbourhood at different times of the day and week to see how traffic, noise and activity changes over time.
Being thorough in your inspection will help you to make the right decision when you are choosing the best home for you.
Rosie & Rosie is the brainchild of brother and sister duo Matthew and Kate Rosie. Between us, there’s very little that we haven’t seen, heard or done when it comes to real estate. It’s our combined experience, that enables us to give our clients peace of mind and guide them in making sound property investment decisions.