Tips for Investment Properties, Are they Worth it?

6/16/2020 (Permalink)

Do I Need to Inspect My Investment Property?

As with any size property, it is important to have an inspection performed. Many owners will conceal all sorts of issues in order to secure a better selling price. Leaving you to deal with the reparation which can end up costing you more in the long run than the actual value of the property. Therefore, an inspection of the interior and exterior structure is a wise investment as it will provide you with an accurate report as to the value of the property. In turn, you will be better able to make a sound judgment with the given information to determine if it’s a property worth purchasing and if so, to negotiate a better price.

What Are Some Things to Look Out for When Purchasing a Property?

Here are some common warning signs:

• Uneven heating and cooling in the attic could be a sign of something wrong with the insulation of the roof. As a result, get a roofer to check the roof for cracks, crevices, and other faults, while also making sure that the drainage system is running properly.
• A musty smell combined with discoloration in humid surroundings means that there could be mold. Not only is mold potentially dangerous for human health, but it is also a sign that there is too much moisture, which can lead to a lot of materials to deteriorate or rot.
• Bubbling paint, staining on ceilings or walls could be due to previous water damage. It is important to know if these areas have been properly mitigated as wet areas that are not properly dried may lead to potential mold growth.
• The history of changes that have been made to an investment property can say a lot about its current condition. If the current owner is unwilling to divulge more than a bare minimum of information, that could be a bad sign that they are attempting to hide something.

Contact SERVPRO of Southern Staten Island

Whether you’re planning to purchase an investment property or looking to restore, call SERVPRO of Southern Staten Island if you’re in need of cleaning or restoration services. We are available year-round, 24/7.