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Hey, guys. Naomi here; Australia’s rapid renovation expert. Today, I want to talk to you about the importance of a good and solid property inspection when you’re looking to buy a property to renovate.
Many people I know go and look at how many bedrooms a place has, how many bathrooms it has, what condition the kitchen’s in. These are really, really important things. But, today I want to share with you three of the most not looked at things and three of the most important things to look at when you’re doing a property inspection.
As I just mentioned, lots of people are looking at the number of bedrooms, the number of bathrooms, the condition of the property as well as how big the spaces are. These are all really important things. In fact, I use a multiple hundred point checklist when I’m doing a property inspection to make sure that I don’t miss any important steps.
What I also do are these three very left out things that I want to share with you today. That’s actually what is happening around the edges of the property. What is happening outside the boundaries of the property, which so many people miss or overlook. They’re outside, they’re so excited and can’t wait to get in and start to go through their checklist, but they forget to do three very important things.
Important thing number one is to have a look at the overall appearance of the house. Do you even like the appearance of the house? Does it have any form of appeal and will it appeal to others who are looking to either rent it or buy it from you once you’re finished. That’s number one: What is the overall appeal of the house.
Number two is what is outside the boundaries in regards to the neighbours? Neighbours are one thing you can absolutely not change when you are doing a renovation on a property. You have no control over the appearance of their properties, what animals they have, how they keep their yards or how many cars are in their yards or how noisy or how inappropriate the neighbours may be.
That is number two. If when you’re about to inspect a property, you look at the surrounding properties and it makes you cringe or makes you go, “Oh, I wish they would get rid of that old car out of the yard,” or, “Man, their dogs are frightening,” that’s something that prospective buyer or renter or valuer would think as well.
Number three, the other very important thing that is so often overlooked when doing a property inspection is what is the access to the property like. It is so important when you’re renovating and when you’re doing a property inspection that you consider the access to the property. How far away will trades need to park? Where might you be able to put your skit bin? How high or what flight is the unit block on?
Access will greatly, greatly affect your renovation budget and, hence, affect your profit at the end.
There you go, guys. Tip number one is: what is the overall appeal of the house? What is the overall appearance? Does it actually have a great street appeal or is this something you can work with?
Number two: What are the surrounding properties like? Are there going to be any challenges there for you?
Number three: What is the access to the property like?
These are the three things that, above all things, I noticed are the most missed when doing a property inspection. Add them to your list today and never forget them again.
Happy renovating, guys. I’ll see you soon.