Purchasing a new property can be great fun and an incredibly rewarding experience, whether you are buying it for yourself or merely for investment purposes. However, there are some not-so-fun aspects to buying real estate that we do not like to think about, and one of these things is a property inspection.
A property inspection is a crucial element in the process that cannot be overlooked. Having a property inspection conducted can potentially save you loads of money in the long run. Here’s why a property inspection is essential and what you should be looking out for.
An excellent property inspection confirms the actual condition of the property before purchase, determines if there is anything that needs to be fixed and uncovers any serious problems with the property. Problems can be anything and can range from cracks in the foundations, mold, and mildew, rising damp, roof leaks, cracks in the walls, etc. Being aware of these problems up front ensures that you have an idea of the cost of repairs before committing to buying the property.
If you are considering buying the property as an investment and there is repair work to be done, you will need to factor these costs into your rental income and possibly determine if it is worth purchasing the property in the first place.
If you are wondering who conducts property inspections, try calling a reputable property inspector and preferably one who holds certification in the field of property inspection. The easiest way to find a good inspector is to ask for a referral from your realtor or a fellow investor. If you don’t succeed down this road, another simple way is to consult Yelp. People are known for their brutally honest reviews on this forum, so you are bound to find a good property inspector in your area with Yelp.
Any good property inspector will make use of a property inspection app while thoroughly conducting the inspection, so the inspection should not take long at all. Your inspection will, therefore, be a painless but worthwhile experience. We highly recommend it!