When considering investment property of any type, it may appear to be in top shape and without a flaw. However, looks can be deceiving, to ensure that you are indeed getting the deal of a lifetime there are some things you want to look out for, which leads us to this article "How to avoid a bad deal-five signs". We are certain you do not want to purchase any investment property of any type, only months or even a year down the road find out that the investment property was a bad one or it is simply hard to sell when the time is right, well, here is how you can avoid these things.
Say No to Flood Regulation Lines and Flood Plains
For those of you that do not know, a flood plain is defined as level land within an area that borders a lake, pond, or river. Typically, flood plains can be determined quite easily, if you notice any indications of delta plains, levees, back swamps, or oxbow lax, this will tell you it is a flood plain. A flood plain has high instances of flooding or high water levels.
You definitely want to stay away from these areas when considering a piece of investment property. The offer for that particular property may seem too good to pass up; however, you may find yourself having to face a great deal of headaches, frustration, and even damage later on.
Say No to Rising Damp
Again for those of you unaware of what rising damp is. This occurs when the ground water flows in a vertical manner through the wall structure of the investment property. The pores in the masonry allow the water to rise and effect the entire structure. Age, Bridging, and Earth levels can all lead to rising damp.
There are many different ways of identifying rising damp. For example, if you attempt the paint the walls in a piece of investment property suffering from this occurrence, the paint will simply not take. Additionally, you will find that wallpaper will experience the same result. In fact, existing wall paper, if it has lifted from the walls, will possess stains underneath.
Take a moment to feel and inspect the plaster walls. When feeling it, test it to find if it will flake easily or feels soft and spongy. Furthermore, inspect the way the plaster actually looks, if it looks like crystals or a powdery substance, the investment property likely has rising damp. Further indication of rising damp may include falling or fretting mortar, skirting boards, mold, or rotting floorboards.
Inspect for those Annoying Pests
Pest inspection should be one of the very first things on your list when looking into any type of investment property. It may cost you a little bit of extra money, but in reality, the inspection alone could result in actually saving you money at the same time, not to mention the hassle of dealing with pests.
Peace of mind with investments comes with having a pest inspection done by a professional service. With a professional pet inspection, the property will be completely inspected and you will receive a report with findings on pest issues, such as termites. Experience, knowledge, and reputation all must be considered when looking for a pest inspection service.
Summary:
When you are looking into investment property, the one thing you want to stay away from are bad investments. A good deal, comes with a great price and sound surroundings and structure. Anything less, may point to a really bad investment. Find out here, what you should be looking for to ensure you end up with a good investment.
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Author: Brooke Hayles
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