5 Necessary Checks to Ensure a Sound Property Investment

Buying a home is one of the most amazing milestones in life. It means finally owning a piece of land that is wholly yours. It signals a new stage of your life, and you may be sharing it with a partner or a family. However, there is much more to buying a property than the interior decor. There are some key maintenance checks that need to be administered so you know you’re not getting a dodgy deal. We’ve put together 5 necessary checks to ensure that you make your next property investment a sound one.

1. Check if it’s in a flood zone

This might seem a bit obscure, but in Australia we should always have extreme weather in the back of our minds when buying a new home. Knowing the relative flood risk level of your next potential property can help you assess your risk of financial loss, and the insurance you may need to invest in. It’s always a good idea to ask the real estate agent of any past severe weather damage, as well.

 

2. Check for signs of pests

Check for signs of active pests in cupboards, and under rocks outside. Dead bugs are always a give away, also. Examine the house closely for pest droppings and evidence of nesting such as bundled up, shredded paper. As well as this, it’s always crucial to take heed of any unnatural sounds or smells, as pests often have an unmistakeable fecal smell. If you do come across pests, such as rats, in your dream home, don’t fret. There are plenty of services offering pest and rat removal in Melbourne and the surrounding areas.

 

3. Check for water stains or corrosion

Examine the home’s walls for any signs of moisture penetration or water leaks. Although this is not a structural defect, it can certainly be a costly maintenance item for repair. As well as this, check the bathrooms for any sign of corrosion around the taps and in the bathtub and basin. This may signify a problem with the plumbing system that needs to be investigated.

 

4. Check the walls and ceiling for cracks or sagging

Sagging ceilings and cracks in the home’s foundations can occur when the method of fixing the plasterboard or gyprock to the ceiling joists has started to deteriorate. Check for ceiling sag by shining a torch across the ceilings, as this will show up all deflections and defects in the ceiling sheets. As well as this, the internal and external walls should be visually checked to note any large wall cracks.

 

5. Check for other signs of wear and tear such as mould or rust

It’s crucial that you go over the house with a fine tooth comb for any other signs of mould, rust or decay. If other are signs of decay, often this has to be cleaned by professional and can be quite expensive to have removed. Moreover, it poses questions as to why the house is in such bad shape?

 

So there you have it. These are our five top tips for examining your new potential home, to ensure you’re getting the best deal possible. If you do have any serious concerns after inspecting a property, the best thing to do is to consult a qualified building inspector, who will notify you of all the issues you should be wary of. Happy house hunting!

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