Residential Investment Properties

Buying a home? 5 Points to Remember!

Looking for residential investment properties for sale is daunting at times. However, paying attention to some key points is necessary before making your decision. This can make home buying a memorable and profitable experience.

Experienced home inspector Don Walker, of Ace Home Inspections, says there are usually 5 areas that has issues that makes a particular property undesirable. The areas include electrical systems, home foundation, plumbing systems, attics and landscaping.

Electrical systems

Just because a home is relatively new, Walker cautions not assume anything and remain in the delusion that all will be okay. For instance, a four old home that Walker inspected had its electrical systems done wrongly.

When planning to buy investment properties for sale, it is always recommended that you get a thorough inspection done. This will help identify not only existing issues, but potential future issues as well.

Home foundation

Homeowners sometimes make decisions about their properties that could cost buyers a lot of money to remedy, unless a thorough home inspection is conducted. Walker points to a 4-year model home for sale, which was lined with trees, planted by the existing owners. However, since the trees were of the wrong variety, they could end up damaging the foundation. Issues like these could cost buyers of investment properties for sale up to $50,000 to fix.

Walker points to underground structure which remains largely unseen damage that these trees were causing to the property. Buyers may not notice it, but 30 feet underground, the roots were traveling into the property causing micro-fractures in the tiles throughout the home.

As a result of the trees, the cracks in the foundation were causing separation and lifting of the foundations, leading to other signs of serious issues – such as windows and doors not closing properly. Buyers might not see these signs, but a professional home inspector will spot them immediately.

Walker does however caution buyers not to jump to conclusions about foundation cracks. Some cracks are natural, and do not pose problems. Others are serious and could lead to structural issues in due course. Buyers of investment properties for sale will do well therefore to have the home inspected before finalizing the purchase.

Plumbing systems

There is another key area that Walker flags are the areas around plumbing which sustains damage over a period of time due to degradation of pipes. While these issues are not very easy to detect, they can cause serious problems if left undetected or not addressed properly. For example, fixing a leaky pipe, but not addressing signs of mold can pose further issues in due course.

According to Walker, poor caulking is something he notices quite often. Simple things like proper caulking around kitchen and bathroom sinks can prevent a lot of these issues.

Walker cautions that even tiny cracks behind a sink can be a precursor to bigger and worse issues. When water seeps behind the cabinets through those cracks, it is the humidity, dampness and lack of bright light turns that area into a cesspool of mold.

Attics

The attic act like the eyes into the soul of the property and it reveals everything that transpired in the past. While damage to other parts of the house such as walls and ceiling can be fixed to repair serious damage but that is not so easy in the attic. An experienced home inspector can tell where all the damage to the attic has occurred.

Astute home inspectors can immediately spot signs of previous damage. For example, seeing relatively new insulation in the attic of a 20+ year home suggests possible past water damage, prompting replacement of the insulation. Looking at the wood in the attic can also give inspectors a feel for the general health of the roof.

Landscaping

Creating landscape less than 12-inches away from the foundation is dangerous and it can cause harm to the property in the long term. Watering of plants causes the foundation and soil to expand. During drier periods, the foundation tends to dry and shrink, causing cracks.

Relying on professional home inspectors before finalizing a deal for investment properties for sale can detect many issues that you might otherwise miss. Those can cost you a lot of money to fix, once the deal has closed and you assume title.