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How to look for property issues

When you are buying a new rental for your portfolio there are some very easy things to look out for before you spend money on a building report.

This is probably more relevant where buying an existing house over 10 years old, for example.

Uneven floors – Rolling a marble across the floor will suss out if piles have sunk

Water damage – Check the water cylinder cupboard for signs of wet.  Also if you look for gaps around the bath, sinks, etc, because this can signify areas where water can flow into.

Switchboard – How aged does this look?  If the house is over 45 years old insurers will require an Electrical Certificate, and if it fails in this area, it could need an expensive rewire.

Again, there are many more, so consult your expert and do your homework.

If in doubt say no.

 

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