Investing in real estate can be a lucrative business, especially if you found the right property. However, you need to keep in mind that there’s no perfect property and all of them – even newly built ones – have their fair share of minor and/or major issues that you’ll need to be aware of upfront. This is why a home inspection is an integral part of purchasing an investment property.
To help you get an idea of what type of home inspection the property should undergo, we listed some of the important parts or areas of the property that should be inspected by a professional home inspector.
First though, we would like to go ahead and let you know that Timberline Home Inspections offers a special inspection service just for investors. If that’s you and you’re too busy to read the full article, we totally understand. Call us at (205) 545-2050 to schedule your inspection now.
Older chimneys tend to not have flue liners. At times, the interior brickwork may be crumbling. A professional inspector would be able to identify these kinds of issues and may refer you to a chimney inspector as necessary.
Depending on how old the property is, the electrical box may no longer comply with the current city code and so it’s very important that it’s checked by a general home inspector if you don’t want to be faced with some serious consequences in the near future.
The use of lead-based paint has been banned by the federal government since 1978. But homes built before and even some after this period may still contain this hazardous chemical which makes it important to get the property tested for the presence of lead-based paint.
Heating and Air Conditioning
To ensure the property you’re purchasing would be able to cater to your tenant’s comfort, it’s important that you ensure the HVAC system is working. And if it isn’t, it’s a must that you get an HVAC contractor to have it fixed.
Wood-destroying critters may be present in the property and can cause serious structural damage if left unattended. It’s therefore important that a pest inspection is done on the property to ensure that termites or other pests are taken cared of accordingly to prevent future unnecessary expenses that can eat up your profits.
Faulty foundations can cause a serious headache. And in an unfortunate case that the property you’re eyeing to buy has this issue, you may as well think twice on purchasing it, as it may require hundreds of thousands of dollars to fix.
You should also have the roof inspected to ensure it’s still in a good working shape or needs just minor repairs as roof repair and replacement can cost a significant amount of money.
Sewer or Septic System
Absence of a sewer or septic system can be problematic and expensive to fix so be sure to have an inspector check this area too.
Water Systems and Plumbing
An inspector would also look into the property’s plumbing to check. In cases where it’s galvanized, you may be advised to have it replaced are these kinds of pipes tend to cause issues.
Gases and Chemicals including Asbestos
Checking for the presence of dangerous gases is also a must to ensure the safety of your future tenants, which should be your top priority. This makes it very important to get the property tested for the presence of hazardous gases and chemicals like asbestos.
Properties situated in damp areas with humid climates (basically anywhere in Alabama!) are prone to mold. It has been known that mold can trigger health problems so it’s important that you ensure you have the property tested for the presence of mold and have it removed accordingly.
It’s important not to take home inspection on a investment property you want to purchase. You don’t want to invest in a problematic property right? Good luck with your first investment!