After browsing through captivating marketing photos of a property, stepping inside during an inspection can be exhilarating.
Home stagers are experts at creating an inviting atmosphere, making it easy to envision yourself or ideal tenants living there. However, before you rush into purchasing that dream property, here are some essential questions to consider.
Are staging techniques hiding flaws?
Many properties are staged to attract buyers, as sellers know that well-presented homes can command higher prices. Look beyond the appealing aesthetics to identify potential issues that could be expensive to fix later.
Is a rug cleverly concealing uneven floors? Is a decorative plant masking wall cracks? Have wide-angle photos exaggerated the size of the living areas? Is the lighting obscuring the fact that the space feels a bit claustrophobic?
Remember, the stylish furnishings and décor won’t remain once the property is yours, so stay focused on the essentials.
What renovations have been made?
Inquire about any previous renovations to gain a better understanding of the property’s true value. This information could inspire your own future projects. Additionally, knowing about past modifications can uncover any council regulations or zoning restrictions that might affect your plans.
Why are they selling and what price do they expect?
Understanding the seller’s motivation and how long the property has been on the market can provide valuable insights, especially if they are eager to sell. Coupled with their expected selling price, this information will help you determine if the property aligns with your budget and give you leverage in negotiations.
What’s the roof condition?
A problematic roof can lead to significant repair costs. Look for signs of trouble, such as mould, missing or damaged tiles, and any signs of dampness on ceilings or walls.
Inspect the roof from outside, checking gutters for rust and ensuring downpipes direct water to storm drains. Inside, assess for sagging ceilings—using a flashlight can help reveal any imperfections. It’s wise to get a professional building inspection for peace of mind.
How’s the plumbing?
Don’t hesitate to test the taps and flush the toilets during your visit. Listen for any unusual sounds and ensure the hot water is functioning. Ask about the age of the hot water system and its last service date.
What’s the property’s orientation?
Orientation plays a crucial role in how much natural light a property receives throughout the year. North or northeast-facing homes typically enjoy the most sunlight. If the lights are on during a sunny day, it may indicate limited natural light, which could result in a dim environment during winter months.
Have you done your homework?
• How is the area performing in terms of capital growth?
• Are comparative sales tracking well, and is the listed price reasonable?
• What lifestyle amenities are available nearby, and are there any planned developments or zoning changes that could impact your investment?
We’re here to help you secure the financing you need to buy your dream home or investment property this spring. Contact your 1st Street Mortgage Broker today, and we’ll assist you with pre-approval to get the process started!
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