When you invest in a property, whether it is your first time or you have been in the game for a while, there is always the issue of getting your new purchase checked out. There are a whole host of things to do your research on before parting with your money, and you need to make sure that what you are getting is the real deal – no ifs or buts. Property can be a tricky business to be in, especially if you are looking towards purchasing as an investment. You need to know that what you are buying is going to be safe, secure and make you a good return on whatever you first lay out – but what are the problems that you need to be aware of?
Especially in older buildings, damp can be a problem which is often overlooked. If the seller is really looking for a quick move, they can easily paint over small patches or move furniture in which can cover it. Especially more so if you are buying ‘sold as seen’, there is more reason for you to be looking along the walls and inspecting for signs. The tell tale symptoms of damp in a house include darker patched walls, a musty smell as you walk in, condensation on the insides of the windows and in more extreme cases, black patches working their way around the house – more can be found at https://www.wisepropertycare.com/services/rising-damp/what-is-rising-damp/signs/.
Pests are usually heard before they’re seen, or have left a trail without disclosing their whereabouts. Bugs like termites can cause havoc on the structure of a building, and it’s not the best place to start off when you are buying something that to you is brand new. Look at getting an inspection done prior to signing any agreements from a place like http://urbanpropertyinspections.com.au/, which will be able to inspect and certify whether it’s good to proceed with your purchase or not. Making sure that you have got the tiny things under control is paramount, before the problems start to get bigger.
Subsidence is caused when the foundations on a house begin to sink. It takes quite a bit of extra work to get this sorted, and will cost you a lot more money in the long run to put back to rights. Strictly speaking, a house with subsidence is unmortgageable, and so a survey will have to be done before you are exchanging contracts anyway. It’s always something that’s worth mentioning if nobody has done so previously.
Repointing and Cosmetic Work
Any cosmetic work to the building will have to be carried out by yourself, and repointing can class as this in some cases – it depends on what the need for it is. If it’s structural, you can put in a claim to get it done before you exchange deeds. If it’s more so to do with the look of the house than anything else, it’s another investment that will have to be made on your part rather than the seller’s.