7 Things To Consider When Purchasing Or Renting A Property

On April 5, 2019 by Himanshu Shah

7 Things To Consider When Purchasing Or Renting A Property

Buying or renting a property is a huge investment that will have a major effect on your everyday life. Before you put the time, effort, and money, into a property, you should ensure that there are no major problems that will negatively affect your peace of mind. Below are seven things that you should consider before renting or purchasing a property. This is not an exhaustive list, but they are seven things to inspect before purchase. Ensuring that these seven things are in good repair can eliminate major headaches in the future.

  1. Electric System

Electricity makes 99% of structures run. A bad electric system can be a major inconvenience. It is very important to make sure it has been properly installed and maintained.

The electrical service panel is a good place to look to get an idea of the quality of a property’s electrical system. A well maintained, rust-free, breaker box is not a guarantee of a well-maintained system, but it is a very good indication.

If the box is rusty, the fuses or breakers are outdated, or the wiring looks worn, you may want to look deeper into the system. Electrical problems can be a safety hazard and will most certainly cause much frustration and inconvenience.

  1. Plumbing

Poor or antiquated plumbing can affect a renter or property owner. Old pipes can leak and cause significant damage. Additionally, bad plumbing can affect water pressure. Low water pressure can make it difficult to use a dishwasher, washing machine, which depending on your use for the property, can be a big deal.

A professional plumber can inspect the plumbing system and identify current, or future, problems. There are also things you can do yourself, as the buyer or renter, to give yourself a good idea of the state of the property’s plumbing.

Structure Tech identifies a few good things to check when checking a property’s plumbing system.

  • Toilet- Push firmly on the toilet. If it rocks, there may be an issue that can lead to a future leak.
  • Kitchen Sinks- Turn on the sink with the stopper in the drain. Once it is filled turn on the garbage disposal (if there is one). This can help to identify leaks.
  • Water heater- Ensure there are no leaks in the water heater. Check the leaking pan for moisture.
  1. Mold

Mold within a property is a very serious problem. It is very hard to detect, and you may not know that it is there unless you specifically look for it. The CDC states that prolonged exposure to mold, such as household mold, can cause upper respiratory tract complications in otherwise healthy people.

It is good practice to visually inspect a property for mold. Look at any places within the home that are dark or damp, like crawlspaces, attics, basements. If you see any obvious signs of mold growth consult a professional. Unfortunately, mold is often invisible and odorless to humans. As a result, it is a good idea to have a professional test the property for harmful mold.

  1. Geographic Area

Before buying a property, you should investigate the region in which it is located. One of the biggest things you should be aware of is if it is in an area that floods. Flooding can cause extensive damage, frustration, danger, and heartache. You should know what you are getting into when purchasing the property. Once you know, you can make an informed decision.

You can research the area quite extensively on the internet. You will be able to decipher the facts and figures relating to the property. You can also ask other area property owners about the specific area. If they have been there long enough, they will have a good insight.

  1. Foundation

Foundation problems can cause major problems for a property owner. The entire structure depends on the strength of the foundation. The foundation can be affected by moisture, soil change (expanding/contracting), and many other factors.

Cracks in basement walls can be an early indicator of foundation problems. Sagging floors can also be an indication as can unexplained moisture in the home, especially in basements and crawl spaces.

Inspecting the property yourself for obvious signs of foundational distress is a must. It is also advisable to call in a professional to evaluate the property. They have the experience to see issues that you may not see yourself.

  1. Radon

Radon is an invisible, odorless, gas that comes from radioactive material beneath the earth’s surface. Prolonged Radon exposure has been linked to severe health problems, including lung cancer.

The only way to detect radon is to conduct a specialized test. This test is best done by a professional who can conduct the test as well as present solutions. Radon is a serious health risk, before buying or renting a property you should ensure that the radon level is low.

  1. The Condition of A Property

Buying or renting is one of the few instances in life in which it is fair to judge a book by its cover. If a property is in poor shape (peeling paint, broken doors/windows, etc.), it is fair to assume that the other areas of the property haven’t been maintained either.

Look at the whole property and trust your feelings. If you have reason to believe that the house has issues, pursue your worries until they are confirmed or not.

Buying a property is one of the most significant investments in your life. You should go into it with a good education and an open mind. You should scrutinize each aspect of the property to make sure that you can conduct your business in the area. The professionals at threshold-environmental services can evaluate the property so that you can have peace of mind after your purchase. Your single goal when buying or renting a property is to find a place in which you will be happy and have few problems.

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