Property is one of the safest places to invest money, and it can often bring large financial rewards. So there is no wonder why so many people are turning to property renovation projects to try and help their money grow. Even people who don’t even have any experience in property development or construction are getting to work in this industry. It’s simple enough – all you need to do is buy a house that needs some maintenance, and then renovate it so that you can sell it at a profit.
But there is one major downside to working in property development, even if it is just a side project. And that is that it can be very dangerous. Amateur property developers usually aren’t aware of the hazards and risks that they face when they are working on buildings. Here are some of the big ones that you need to watch out for.
Faulty Electrics
If a home hasn’t been inhabited for quite some time, there is a good chance that the electrics won’t work, and the entire property might need rewiring. If you aren’t sure about the state of the wiring in your property, you can always hire an electrician to carry out switchboard testing and other checks. They can then see whether it is worth rewiring the whole property or specific sections. It is important that you don’t try to carry out this work yourself, as working with electricity can be extremely dangerous. Always hire a certified electrician to do the work for you.
Asbestos
As well as dodgy electrics, old buildings could contain high levels of asbestos. Generally speaking, all properties that were built any earlier than the 1990s should be checked out for this material. It was once widely used in the construction industry until it was found to be highly toxic. As a result, it is now banned even though some properties still contain it. You should hire a professional to check your house for it. If there are significant levels, it will need to removed from the structure and be replaced by non-toxic materials.
Fire Hazards
You will also need to watch out for fire hazards as you work. For instance, do not leave any floor sheets or old rags close to any tools or equipment that may heat up during use. If you are planning on renting out the property after the renovation, there are certain regulations you will have to meet to ensure the property doesn’t pose a risk to tenants. One of these is ensuring that there are the appropriate fire doors in between rooms and hallways. You will also have to install fire and smoke alarms and equip the kitchen with a fire extinguisher or a fire blanket. When you are installing appliances, you should also check them to make sure they pass official safety standards.
Hopefully, you now have a better idea of how you can stay safe during your development projects. And you’ll also make your home safer for the next occupants in the process!
