Archive for the ‘Property’ Category
If you’re looking into purchasing a rental property, then you want to make sure you take care of any loose ends before signing on the dotted line. That’s not a small purchase we’re talking about, so make sure that you do all of your research before committing to anything. While you’re researching, look for the following three things:
1. Gutter protection
We know—gutters are probably the furthest thing from your mind at this point. But consider this: if the property’s gutters aren’t equipped with a gutter shield or leaf guard, then you’ll have to take care of cleaning out those gutters on a regular basis. In order to save yourself a lot of effort and time down the road, try to strike a deal that includes gutter protection (if it’s not already included).
2. Home inspection
It’s responsible and cautious, not paranoid, to get a home inspection done on the property you’re considering purchasing. Even if you’re handy around the house, get a home inspection done by a trained professional who will be sure not to miss anything. An added bonus is that a home inspection can actually get you better insurance and financing rates.
3. Property background
Before you purchase a rental property, get to know its background. Get to know not only your potential property but the rest of the street’s and neighborhood’s properties. How much did those properties sell or rent for five years ago? And how about currently? Is your property one of the most or least expensive in the area? The best news is that you don’t have to run around asking everyone these questions—your real estate agent should be able to do all that for you.
So there are three things that you will want to make sure you look into before buying that rental property: gutter guards, a home inspection, and getting to know your property’s background. What tips can you think of to share?