The real estate industry has seen impressive development over the past few years, thanks to the growing number of prospective homeowners. Today, you can find all sorts of investment properties to purchase, whether it’s vacant land, a commercial structure, or a residential building.

One thing about many of these for-sale properties, however, is that they may seem impressive from the outside, but the interior is wanting. For instance, there are those that might require repairs or termite treatment before you can move in, which could easily hurt your budget.

That’s not to say every stunning building has a set of hidden issues, but it’s better to be sure before investing your hard-earned money. So, what are some of the things to check keenly in an investment property before accepting your next deal? Read on to learn more.

1. Pest inspection

Pests can be quite destructive to structures, especially those with several wooden designs. Unfortunately, not every homeowner takes the idea of pest control seriously, which is why you should prioritize it in your home inspection process.

Of course, it’s almost impossible to determine such issues with your naked eye. As such, it’d be prudent to hire a professional expert to carry out the inspection in all the rooms. After the process, they’ll give you a full report and whether there are any signs of a future pest infestation.

You might be wondering how such an inspection will be beneficial to you. Well, for one, it’ll save you any future regrets. It can be quite frustrating to move into a house only to realize later that it’s infested with termites and other creepy crawlies.

Another advantage is the fact that it helps in uncovering any other hidden issues. For instance, pests might have messed up with the building’s structural design, which can easily go unnoticed.

With all these in mind, you’ll have the upper hand during negotiations. Of course, the help of a real estate agent might come in handy, especially when trying to estimate the final value of the property.

2. Well water

Most residential properties have a private well which is the main source of water within the home. If your target property has this, it’d be wise to have it inspected thoroughly before going ahead with the purchase.

It’s a no-brainer that contaminated water can pose a risk to the health of its users. Well, water can be easily polluted depending on its location and the design of its seal. In fact, the latter should be your first warning sign as you commence the inspection process.

Again, it’s important that you hire an expert to test the well water and ascertain the condition of the well itself. Oh, and don’t forget to check the flow rate and pressure.

Drilling a new well can be very expensive. Therefore, you need to be sure that the available one is still useable; otherwise, it could come back to haunt you.

3. Plumbing

Is the plumbing system still in good shape? This is another critical question that will need answers before you can invest your money in any given property. It doesn’t matter if it’s a commercial or residential property; poor plumbing can always lead to a lot of frustrations.

So, where should you start with the plumbing inspection? The aesthetics can be very appealing to the eye, but that doesn’t guarantee a fully functional plumbing system. Therefore, most of your checks here should focus on the operation rather than the appearance—although that’s another aspect.

One way of inspecting this section of the building is by checking the pressure of the water. Hook up a pressure gauge to the hose faucet in one of the rooms and turn it on when the rest of the sections aren’t in use. The recommended pressure is always anywhere between 30 and 80psi. If yours doesn’t meet this threshold, then there must be an issue with the plumbing system.

You can also get a miniature camera and drop it into the sewer line. Inspect for blockages and any noticeable damages along these sections. Remember, failure to carry out such inspections could leave you with repairs amounting to more than USD$5000, depending on the size of the building.

4. Beware of any room fresheners

The easiest way to know whether there are some issues within the property is when there is an unpleasant smell. Of course, the sellers already know this and might decide to mask the smell with a room freshener rather than dealing with its root cause. As a buyer, if you’re not careful, the beautiful smell from these fresheners could fool you.

Take, for example, a house that was previously owned by a smoker. Of course, the tobacco odor rarely goes away immediately. If fresheners are used, it might be difficult for you to realize, but once you’ve moved in, it won’t take you long to notice the smell of tobacco. Apart from creating an uncomfortable environment, it could also lead to some health complications.

5. Floor condition

Uneven floors may not seem much of an issue at first, but they can be quite frustrating for you as a new homeowner. For instance, if the living room has an uneven floor, it’ll be quite difficult to organize your furniture. For one, you might need to use some supporters to stabilize your tables, seats, TV stand, and other furniture.

So, how can you avoid such an experience? Well, it’s all about how you inspect the house. It’s always recommended that you bring a marble during the inspection and place it around various areas of the floor in every room you visit. This will show you any defects in the floor design.

Keep in mind that this isn’t proof of poor construction, especially if the house is quite old. Some houses can settle aggressively, and this will create a hump in the middle. Without inspection, some owners may not be aware, while others might want to play it down.

However, the fact of the matter is that this could be quite costly. The solution to deflections in floors may demand that you rip out the entire existing floor. In other words, you’ll need to reconstruct the floor from scratch; otherwise, you might have some unpleasant patches all over. Therefore, realizing this before taking the deal can save you a lot of money in the long run.

6. Condition of the walls

Another very important factor you should open your eyes to is the condition of the walls. This is something that you can’t run away from because it determines the aesthetics of your home. For instance, no matter how organized your living room is, poorly designed walls will always drag your efforts back.

Some defects like worn-out paints and other naked damages are quite easy to trace. Remember, there is no ‘negligible’ damage when it comes to home inspection. For instance, there could be some stains left behind due to the tobacco residue in case you’re buying from a smoker. The yellowish-brown stains can be quite costly to get rid of as they’ll require a lot of scrubbing and two or more coats of paint. Therefore, be sure to record everything that you think requires attention before you can commence the negotiations.

There are, however, some issues that aren’t easy to notice. For instance, some people conceal water damage by painting over them. In the process, moisture is trapped beneath these paints, which can easily lead to the growth of mold. Black molds, generally, pose a threat to your health when you breathe in that odor.

So, how will you determine such issues? The biggest culprits when it comes to water damage are areas under the drawers, sinks, or beneath the tubs and toilets. In fact, if you come across warped sheetrock, that’s an indication that there might be some leaks, which could also mean that there is some water damage around the area.

Of course, the sellers are always required to disclose this information to their prospective buyers. If you happen to realize these issues during your inspection but aren’t mentioned in the package, then that could say a lot about the seller. In such a scenario, you have all the reasons to back out because you don’t know what else they’re hiding from you. In fact, depending on your state laws, the sellers might be forced to reimburse you for any costs incurred during the inspection.

7. Are the walls soundproof?

Now that you’re impressed with the condition of the walls, it’s time to find out if they’re soundproof. This is quite important because of many things. For one, you will definitely need your privacy at some point, and when you have friends over or children around, it can be difficult if the walls aren’t soundproof.

Also, if you’re working from home, then we can’t stress how much this aspect is important. You wouldn’t want to be distracted by the noise from the living room while you’re busy with work in your home office. Of course, it can be difficult to tell with empty rooms, but you can still test it by playing music in other rooms while the door to your office is shut.

8. Roofing

This is the first thing that you see the moment you enter that gate. This is a vital part of any home, and its condition should be confirmed before you can sign the deal. There are several things that you’ll need to check.

Here is part of the checklist;

• Broken or missing shingles
• Worn-out rubber boots supporting the vent pipes
• Damaged or missing chimney cap
• Cracked caulk

These are some of the factors to consider during the inspection. In addition to these, you might also want to check the design and see if it resonates with your needs. Some might be too old for a modern house, which means you’ll be forced to make a few changes—and that’ll be costly. It goes without saying that you’ll need to hire a professional roofing inspector for you to get the best results.

If there are some repairable defects, you can give the current homeowner some time to do the necessary. However, if it needs a lot of redesigning, then be sure to communicate the same and see if you can come to an agreement. Of course, if you don’t find common ground, then it’d be wise to move on to the next candidate.

9. Ownership history

Knowing the condition of the house is one thing, but understanding its ownership history is another. So, why is this aspect vital? Inasmuch as it might not necessarily mean something, a house with high turnover should signal a red flag. Of course, people move out for various reasons, but when you have three people moving out within a space of 10 years, then that says a lot about the home itself and the neighborhood.

It’s worth noting that even in areas with the lowest average homeownership length, it’s estimated that most people hold on to their homes for at least eight years. Therefore, if several people are moving out within that period, then that means the house could have some hidden issues.

Unless you can find out these issues from a trustworthy source, it’d be wise to reconsider your options. There are high chance that you might be frustrated and end up listing the house within the first few years. The disadvantage, however, is that this will worsen the ownership history, and you might struggle to find the next buyer.

Conclusion

Many people end up regretting their purchase simply because they didn’t pay enough attention during the property inspection process. It doesn’t matter whether it’s a commercial property or your home. Inspecting it before finalizing the transaction is quite important. Checking the roofing, floors, walls, and plumbing system can save you a lot of money in the long run.

It’s worth noting that some repairs like uneven floors might require a total redesigning, which could be very expensive. Therefore, be sure to consult an expert before moving to the next step to avoid any unnecessary frustrations.

Also, if you want to read more informative content about construction and real estate, keep following Feeta Blog, the best property blog in Pakistan.

Let’s agree to it; every real estate investor wants to maximize the value of their assets. If you own rental property, it is in your best interest to do everything possible to make them more attractive to prospective tenants, and minimize the risk of the property remaining vacant, and maximize the price you can get on the rental market.

Even if you were to start with a wonderful newly built home, it would still need to be renovated from time to time. No matter how much you take care of the house, problems will arise, and if you want to retain your tenants, you need to deal with them as soon as possible.

With that in mind, here are the top seven improvements you can make to enhance your rental assets and bring home more profit.

1 – Extend The Life Of Your HVAC Unit And Add Popular Pleasures

Air conditioning

In the warmer parts of the world, the overall valuation of your property and the rental price it will buy on the market both affect the quality and condition of your HVAC system. People want to live in a functional and comfortable home, especially if it is in an area where air conditioning is needed during the summer months. As an owner, you need to understand this and do everything you can to offer air conditioning service to your tenants, including maintenance, repairs and upgrades (if necessary).

Washbasin

Following the previous point, having the right appliances in your house is almost necessary nowadays. Renting a property with all the essential appliances will greatly increase your chance of finding a tenant (and with a higher price). Ultimately people pay for comfort.

Storage Space

Storage space is essential to your property. People don’t want to live in a cluttered space because they can quickly clutter themselves up, and it doesn’t exactly give the most comfortable living experience. As an owner, it is only right that you provide adequate storage space for your tenants. This doesn’t have to be extensive, but it will go a long way. Things like closets, cupboards, shelves, kitchen cabinets and even opening your attic will dramatically improve the living conditions for your tenants.

Washers And Dryers Units

For all of the above-listed items, you should consider installing washers and dryers on your property. These are basic essences that almost all rental properties come in nowadays, and if your home doesn’t have them, you may lose your competition.

2 – Replace Interior And Exterior Doors

One of the most important things you need to do as a landlord is to show potential tenants that your rental property looks fresh and attractive. One of the best ways to do this is to replace the interior and exterior doors, especially if you haven’t done so in a long time. This includes taking time to restructure the kitchen cabinets of your property, replacing the cabinet doors, and perhaps even giving them fresh paint.

As for your front door, make sure you choose a sturdy material that can withstand the elements (although it still looks great).

3 – Installing A New Floor Can Be A Good Idea

Sometimes, you have to spend money to raise money. Your task as a real estate investor is finding out the smartest place to spend your money and where you will find the best return on your investment.

One great place to invest your money is on new floors, especially if you have a carpet. You see, as a landlord, the dream scenario is to have a property that looks great, is durable and easy to clean. Unfortunately, carpet is none of those things. Although carpet may look comfy and comfy, it can stain easily, hold dirt (especially pet hair), and will stink if you don’t professionally clean it.

On the other hand, wood flooring is ideal for most rental properties. It is durable, dirt can be wiped off easily, and it is not necessary to hire a professional cleaner to find new tenants. Although it can be expensive to install, it may save you more money and help attract more tenants in the long run.

4 – Add Fresh Paint Coat And Update Easy Solutions

Adding a fresh coat of paint is a great way to improve the aesthetics of your property without spending a lot of money. If you can, you can do the job yourself. This means that your only cost is the paint itself, which can make painting one of the highest income improvements you could ever make.

Fresh paint can paint an entire space, covering scratch marks, tired walls, and greasy marks, and will help expose the best features of your room if done right. Don’t forget to use neutral colors that will stand the test of time. This means staying away from crazy trends that are now in vogue because after a few years you will have to do all the work again.

5 – Limit Appeal: First Impressions

According to a study by NAR 2018, 94% of real estate brokers suggest limiting appeal improvements to vendors, but why is that? Well, just as we quickly judge the people we meet, we also do the same with real estate. A large percentage of potential tenants will already decide whether or not they like a house based on the restrictive appeal (the exterior features and how it looks from the outside). Here are some inexpensive ways to improve your limited appeal:

• Remove debris and debris from the outside area
• Refresh your front door
• Clean your windows
• Make sure your garden is kind
• Consider fresh painting

6 – Update the landscape of Your Property

Well thought out landscape improvements is a great way to enhance the appeal of your rental property. In addition to that, it can also dramatically increase the overall value of your property, which can give you a nice penny if you ever want to sell it.

In addition, landscaping the garden keeps it poorly maintained and cost-effective, as neither you nor the resident needs to put much effort into making it look great. Remember that you want to make your life as a landlord as simple as possible and also leave your property looking beautiful, and a well-designed landscape scheme will increase the attractiveness of your property, improve the quality of tenants and help you manage higher rents.

7 – Know Your Competition

Last but not least, it’s always a good idea to watch your competition. This way you can understand how the rental market works in your area and what the standard is when it comes to pricing and internal project trends.

If you consider the local market, you will get a clearer view of the strengths and weaknesses of your property, which can help you determine what can be improved and what needs to be prioritized. This gives you a great opportunity to differentiate your rental property from your competition so that you can distinguish it from the crowd. This will attract more potential tenants, and as a result, you can command a higher rental price.

Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Architrcture, Lifestyle and Interior Design.