If you want to buy an investment property to help you make money, you need to start it right. You need to make sure that your investment property meets the basic requirements. Pay to have it formally inspected to expose and rectify the potential problems while you are still in the negotiation stage.
A home inspector is there because they have an important function. They can see a property the way no one else can. They don’t see investment potential and they don’t judge based on emotion. They are there to find flaws and identify liabilities that would potentially be problematic.
Why do you need to have your investment property inspected before buying? Here are some reasons:
- House Roof
When you do a house trip, you won’t have the opportunity to go up the attic to take a look from the inside. It is not that you are not allowed but it will be a challenge and a possible safety hazard to crawling around that area.
There are quite a few advantages in having an inspector do this. A professional inspector would know exactly what to look for, they are insured if things go south and he would be able to see the extent of the damage if any. This will allow you to ask for a price reduction.
- The Heating and A/C
You cannot identify some issues at the fireplace, furnace or air conditioning unit. These could be improperly installed or damaged. A professional inspector will be able to check for you.
Perforated pipes are a source of rotting, molds and insect infestations. Hidden leaks in the plumbing system can be revealed through a home inspection. We would suggest having a professional handle this instead of a municipal and housing inspector.
Municipal inspectors do not spend hours looking at every inch of the house like professional inspectors do. A professional home inspector would do this and more since they know you hired them for their experience in exposing flaws in any home.
- The Foundation
One of the most important elements of a building is the structure. You cannot determine structural deficiencies and structural integrity unless you have the right tools and know-how. The structure is the hardest place to look at and crawling around areas that expose the structure is normally not part of a home tour.
- Electrical Wiring
You should not touch this one unless you are a professional electrician. The outmoded electrical panel is not capable of handling a modern home. A home inspector can offer you suggestions on how you can upgrade your electrical wiring.
Having a home inspector in your budget might be a little pricey but is worth it. A thorough inspection will save you money by finding out the flaws in a property, ultimately helping you make a decision whether to invest in it.
RJ Pepino is Co-owner of Columbus Turnkey Houses alongside David Payerchin licensed Realtor with ERA Real Solutions Realty. Together they have bought and sold over 300 homes since 2005.
They offer investors a full-service turnkey real estate solution. Call today for a free consultation 614-285-3600 if you are looking for Columbus cash flow properties, Columbus wholesale properties, Columbus investment properties, Columbus real estate, Columbus turnkey houses is your premier source for Columbus investment properties.