For a great majority of today’s investors, a property health check can equate to a great property deal. It’s an absolute must for the investor to ensure that their chosen property undergoes the proper inspections.
It’s important to note that inspection reports can deliver much more than simply peace of mind. It also has the potential of paving the way for great savings and discount on your purchase.
Prior to purchasing a property, it’s recommended for the investor to invest in a pest and building inspection. Such inspections can cost a few hundred dollars, but the most important thing to be aware of such expenses is that they prevent a myriad of headaches from occurring in the future.
Investing in a pest inspection is an essential aspect of your strategy in risk management. Damage caused by termites and faults within the landscaping of the property can be extremely expensive to repair; you’re not looking at just a couple of thousand dollars, but potentially tens of thousands.
Then there are risks of untreated problems becoming worse over the period of one’s ownership.
Protecting yourself against potential risks is simply one aspect of the inspection coin when it comes to properties. The other aspect of protecting oneself is the ability of utilising pest and building inspections to one’s advantage in financial terms.
Pest reports and building inspections can be used as some of the greatest bargaining chips for an investor. It is very important for the investor to understand what exactly is in their reports.
Expert property investors attest that certain kinds of damages can be utilised as a negotiation tool. He has claimed that among more than 70 different properties in his portfolio, he has purchased some that have been kicked in, burnt out, infested by termites and on the brink of collapsing.
He has used such issues as a leveraging factor in the negotiation process. Since he has had experience in repairing properties in the past, he has become well aware of where to find the best deals in home repairs to come out on top as far as return on investment goes.
Achieving a return on investment is all about one’s strategy. If the investor heads into their deal with awareness and knowledge, they can certainly go a long way in the field.
