What defects to look for when inspecting a residential
property for
investment purposes
The inspection of a property when you are considering investing in it,
is by far one of the most important aspects of deciding whether or not
to proceed with the purchase. This article will give you a very brief
outline of what defects to look out for, that might affect the value of
the property.
Armed with this knowledge you can use the detected defects as
ammunition in your negotiations in a bid to reduce the price. Also
having this knowledge will give you more of an insight into what
defects the valuer from the mortgage lender will be looking for.
External Inspection
Step back and be sure to take an overview of the exterior of the
property.
Roof: What is the condition of the roof covering?
Is there any bowing to the framework i.e. unusual shaping
Brickwork: Are there any visible cracks?
There should have at least 3 air bricks to the ground level at the
front, rear and side of the property.
Windows: Is there any misting to the double glazing?
If single glazed windows are the panes free from crack.
If sash windows are the cords in tact?
Are all timber frames free from visible signs of rot?
Outbuildings ( e.g.: garages or garden sheds): Do they appear
to be well maintained?
Trees: Tree roots of fast growing trees will always extract moisture
from the soil. Therefore, properties built with shallow foundations on
clay that is shrinkable are in danger of suffering from tree
root damage. Tree roots can extend to a distance of at least 1.5 times
the height of the tree and shrinkage can go down to a depth of at least
3 meters. Caution: are there any trees within close proximity
of the property?
General decoration: Is the condition, good, average or poor?
Internal inspection
Once inside the property does it give off a moldy or musky smell? If
you smell any of these smells beware there maybe a damp problem.
Roof space: Yes you can ask to look inside, just make sure you have a
ladder!!!
Look out for any signs of wood worm (holes in timber or powdery looking
timber); damp patches to timbers; bowed or sagging timbers.
Floors: Is there any looseness under you feet, unevenness to the floor
boards, damp floor boards?
Walls: Any suspect cracks, signs of mold or discoloration?
Kitchen: Is the condition, good, average or poor?
Are we looking at a complete overhaul?
Bathroom: Is the condition, good, average or poor?
Again, inspect with care as a great deal of expense may have to be
spent hear.
Ceilings: Are they even in appearance?
If cracked are they more than the common air line crack?
Chimneys: Are they intact or have they been removed?
Decoration: Is the condition, good, average or poor?
Central heating: Is the system working? Ask to have a demo on
inspection.
Is there a service agreement in
place?
Are thermostats fixed to the radiators?
Services: Are all mains services connected?
Electric: Is the fuse board and consumer unit old or new? Again,
inspect with care as a great deal of expense may have to be spent hear.
Plumbing: Are the pipes insulated?
Are they all copper? Replacing lead piping can be a very expense and
labor intensive job.
General Comments: Location, location are there any
adverse conditions
e.g.: situated next to a cemetery or busy by-pass.
Look for potential to add value: loft conversion, add a conservatory,
extend the property, create more bedrooms, install an en-suite or
bathrooms/wc.
About the Author:
Jackie is a Chartered Surveyor, Property Investor, Property
Coach/Mentor, Motivational Speaker, Entrepreneur. She is the Author of
soon to be released - Secrets of the Astute Property Investor.
Jackie
is the owner of several companies and is a seasoned property investor
who has built up a healthy property portfolio.
To Contact Jackie:
Send an e-mail to
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
