When you inspect houses, be aware that in the area where houses are located, there may be a lot of houses for sale. If this is the case, look at the competition. See what homes are selling and for what price. Getting friendly with a real estate agent will help you because if they think that you will give them your business, they will be happy to provide you with information.
There are several things that you need to take into account when you inspect a home. These are as follows:
- How the house compares with others on the market in the same area
- How the price compares with other houses
- What the home offers
- What disadvantages there are
Let me go into this in more detail because at the moment, you may not be accustomed to the housing market. If this is your first investment, you need to get it right. The first of the criteria about is pretty obvious because taking a look at other homes within the area will give you an idea of what the market is like. If you are looking at a family home, is the area in which the home is located suitable for family life?
What disadvantages are there?
The moment you enter a home, you should be looking for problems. Are the floors solid or are there areas that squeak? Are there repairs that were never finished? What is the decor? Does the kitchen and bathroom need replacing? Are the floors in the property in good condition? What state is the woodwork in? Is there double glazing and if so to what standard? Is there off street parking?
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Take a note pad or clipboard and note everything that you see. Take a camera points and shoot images of anything you are in doubt about so that you can discuss this with contractors as needed. When you have inspected, if you are serious about making a purchase, never part with your money before you have assessed things correctly and do get a property appraisal that highlights any of the things that you may have missed.
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