This is an important process during property purchase. No matter you buying a property with the purpose of investment use or personal use, you must have a thorough inspection of that property before making the purchase.
With a thorough inspection, you can get to know the existing or underlying problems to predict the repair costs of its property. You can hire a professional property inspector and of course, you can save money from do-it-your own. Here are the ultimate inspection guide for a property before making the purchase.
Let’s us begin with the exterior inspection which is need your alertness, feeling and searching skills.
Ⓐ Exterior Inspection
➊ Environment of the Property
To check whether its property is situated within an ideal environment. For example, to check/ ask the property agent or search online, is the property nearby industrial area, shopping mall, mine, or any places that could make a serious air and noise pollution. This is very important to ensure that these problems are at a minimal in the area of your intended purchase.
➋ Natural Disasters
Although there is an insurance product can protect your property from natural/ fire disasters in the market, but, if you knowing that its property quite frequently happen in natural disaster (flood or landslides) before, you shouldn’t consider to proceed with the next step of property purchase.
Instead of buying that kind of property and pay for extra insurance premium to protect it, why don’t you look for other property that have no such serious natural disaster (or plain record of natural disaster) before and pay for the normal insurance premium? In addition, the most important is a property located in areas prone to natural disasters is definitely not be attractive to the tenants.
(To know more about property insurance in Malaysia, visit WMA Property)
➌ Public Security
No one would choose the place within the vicinity of crime hot-spot to live in. Hence, if you intend to buy that property, do obtain the crime records within the property area from nearby police station, talk to the people who live in the area, or you can do some research online for relevant information.
➍ Location and Neighborhood
A property’s location and neighborhood can affect its potential tenants. For example, if the property nearby the office building, employees may be your potential long-term tenants. If the property nearby the college, your potential tenants are more on students.
➎ Proximity and Facilities
The property proximity and facilities are the one of the main factors which property buyers and potential tenants consider. Therefore, it would be great if your property come with parking lot, nearby public transportation, retail shops, schools, hospital and other facilities that can attract tenants or buyers. Besides, the property selling price and rental could be higher as well.
Ⓑ Interior Inspection
➊ Building Structure
Building structure such as foundation, wall segments, ceiling, columns, beams, walls and roofs must be inspected thoroughly. This is to ensure the safety and durability of the property’s structure. Although it can be done by do-it-yourself, but hire a professional to do so would be get more accurate results.
➋ Fuse Box
Open the fuse box and conduct a quick check to ensure all cables within are neatly bound. Messy wires could be a trouble int he future. If there are any unconnected or loose cables, be sure to check for live electrical wires within the walls. Hence, you still need to hire a professional to done it for you.
➌ Plumbing System
To check whether the plumbing system is functioning well and check whether there is any pipe leaking. You can simply fill up all the sinks in the house and releasing the waters to see how long it will takes. If you think the water release very slow, then you should call up the professional to figure out the problem.
➍ Windows and Doors
The costs of replacement of windows and doors are never cheap. So make sure you have check it whether there is any creaking sound while open and close.
➎ Toilet and Water Taps
This is also important to check the toilet and water taps during inspection of the property. You can simply flush all the toilets in the house to see whether it can flush properly and open all water taps to make sure they are functioning well.
Although purchasing a property is very complicated, but after you done all the necessary inspection, you can be disburden your worries and live in the house happily. If you find out there are so much things need to be repaired after inspection and the repairing costs are extremely high, we suggest you to look for another property at a minimal repairing costs instead.