INVESTMENT SERIES
PART
6 First Time Investor Guide
WHAT TO LOOK OUT FOR WHEN BUYING A HOME
BY MONIQUE DU TOIT
W hen buying a property, there are certain things to look out for. Thorough home inspections are essential when buying a property- not only for peace of mind, but also as a potential wallet-saviour. Viewing a showhouse can give the potential buyer small clues about the overall condition of a home. Below, we round up some of the most common examples.
The devil’ s in the details
Look out for small signs of neglect in the property. This starts as soon as you walk up to the house. Notice the state of the garden, the boundary walls or fences, the pavement. Once you step into the home, pay attention to the ceilings, any cracked tiles or plaster, and built-in cabinets.
Important rooms to take note of are the kitchen and bathrooms. We already know that these are the most expensive areas to renovate or replace, so you want to ensure that they’ re in good structural shape. Look out for signs of damp or mould and the condition of kitchen cabinets and countertops. In the bathroom, it’ s a good idea to open a tap and check the water pressure.
Structural concerns
The roof, windows, doors, and walls are important spots to take note of. If windows and doors are made of wood, see if they show any signs of rot or decay. Don’ t be afraid to ask the agent about the state of the roof- even more so if it’ s thatched.
Leaks are usually pretty easy to spot, so keep an eye open for damaged ceilings. In the garden, pay attention to the gutters around the house. If gutters and drains aren’ t functioning properly, it could lead to a build-up of water around the home, which could lead to problems with the foundation. Cracked walls aren’ t necessarily a sign of trouble, but should be investigated nonetheless.
Why home inspections matter
Getting a thorough home inspection done allows you to negotiate the asking price of the property. Once you’ ve received the inspection report, you’ ll also have a better idea of what needs to be done to fix the property up. Armed with this knowledge, you’ re able to make a sound decision on whether or not you’ d like to put in an offer.
Home inspections should cover everything from safety issues like security gates and fire walls, to structural issues such as moisture and leaks. It will also reveal problems related to electricity and gas, as well as maintenance issues. In order to make the best possible decision for your investment, taking care of the nitty-gritty of a home inspection is essential.
24 MAY / JUNE 2018 SA Real Estate Investor Magazine