Monday, July 15, 2013

The Inspection Short Cut when Buying Property

When buying a property either as an investment or for you to live in, you need to do your due diligence. One of the steps is to get an independent house inspection completed. But before that step, you can have a quick look 'under the hood' to see if it's worth getting an inspection done on the property at all. If the house 'fails' this list, then you need to decide if the price is right to go ahead with the inspection, knowing that there will be a lot of work that needs to be done. But at least you will be fully informed to make that decision.

Hopefully the vendor is understanding about what you are about to undertake, you might need the house for a few hours!

 1 - What's down the drain?
  • Replacing plumbing can be a very costly 'adventure'. You want to avoid that if at all possible. If the owners of the property are willing, then you can get a quick idea if there is a back up in the pipes by doing this: - Run a full load of laundry, fill up the bath and sinks and then attempt to drain them all at the same time - along with flushing all the toilets!  What happens? 
  • This also allows you to see how the toilets flush? Are they easily clogged? Can they handle lots of toilet paper?
  • Don't forget to turn the shower on for awhile and check the pressure, if there is more than one shower in the house, turn them on at the same time.
  • This exercise also lets you turn on all the taps to make sure they are all functioning and check to see if the waste disposal is functioning, what about the dishwasher and any other water using appliances? While you're looking at water based appliances, don't forget to check to see the range hood is working and the oven is in good condition, Maybe cook something while you're doing everything else?

2 - Let the fresh air in.
Open all the windows and see if they stick, see if they are all functional.

3 - Turn on the heat.
If there is a fireplace, light a fire, this is a good way to see if the chimney needs some attention, if they draft in the right way or if there are any other unseen problems.

4 - Take a drink
You may know that the water supply to the city is good, but you won't know what the pipes are like until you pour a glass of water or 2 and see what ends up in the glass. Is it just water, or lots of particles? What colour is it? Will you need to put a filtration system in, or can you get away with a couple of filter jugs

5 - Open the electrical breaker panel
If you open up the panel and there are lots of wires that go no where and you have no idea what each of the fuses are for, you might want to reconsider purchasing the property.  On the other hand, if it's all well labelled and clean, then it probably an indicator that the rest of the wiring is pretty good (but do get it checked, don't base your decision on a control panel.)

6 - Turn it on.
Turn on all heating and any air conditioning. Let it run for awhile, play with the temperatures and make sure it's functioning properly.

7 - Look under the hood
  • If the property is carpeted, look underneath in several places if possible. A good place is in closets. See if there is mould or mildew under the carpet. This will also allow you to see if it's hardwood or concrete underneath, this may help you decided to pull up the carpet and refinish the floors.
  • Make sure you look around too for mildew and mould. You might find signs of dehumidifiers and other 'Damp Rid' products. The homeowners are probably smart enough to get them out of sight, but look for any silica bits that may have fallen out, or indentation in the carpet where a dehumidifier may have sat near a power outlet. Mind you, you do need to take into consideration the climate, if property is in a humid place, dehumidifiers may be par of the course anyway.

8 - Chat to the neighbors

Find out if they know anything about the house, have they seen workmen in their regularly? Have they noticed the owners completing regular maintenance on the property. Does the property get regular visits from animals families moving in each year that you may not have been told about?

So do you have anything to add to the list that you always look for before buying a property? 

No comments:

Post a Comment