Finding an investment property requires a careful look into the future. You want long-term success with no hidden surprises.
From the perspective of Metropolitan Plumbing, a leader in the plumbing industry, that means a thorough inspection of plumbing and gas fittings. These are aspects of a home that need to be fixed and replaced sooner or later.
As recipients of the National Plumbers Award 2021 Product Review, Metropolitan Plumbing has first-hand experience in assessing points of concern. Here are their seven things to look for when buying investment property.
1. Aging hot water systems
An efficient hot water system is something every home needs. Therefore, when looking at a water heater, check for rust, water leaks, or structural issues in the cement bases or wall fixtures.
Also inquire about age and service history. If it looks like a new hot water system is needed, that's not a bad thing.
New water heaters achieve higher Energy Star ratings and are a worthwhile investment for homeowners and potential tenants.
2. Damaged roofs
Potential roof plumbing problems can be a costly concern. This may or may not be a big decision depending on your budget, especially if renovations or replacement are needed.
On the first inspection you can assess the condition of the tiles or sheets. Take note of missing tiles, moss, overhanging trees and sagging structures.
A building or roof inspection is essential for any older home you care about. This will help dictate the best course of action in the event of water damage or sagging roof.
3. Poorly maintained gutters and downpipes
Poorly maintained gutters and downspouts are another area of ??concern. Any risk of prolonged exposure or damage to water may have compromised the overall integrity of the home.
Assess if there is rust on the gutters and downspouts and if the storm water system is in good condition. Stormwater should be directed directly into the sewers and not into areas where it can collect on the ground.
4. Mold or moisture inside the house
The risk of serious health side effects from mold growth is still a major concern. Not only is this a visible sign of water damage, but it's invasive and needs special attention.
Professional cleaning would also be required, as would professional leak detection and plumbing repairs. Both could be costly.
5. Obsolete plumbing fixtures and fittings
It is important to assess the general condition of plumbing fixtures and fittings. An outdated house stuck in the 1970s will definitely need a whole new fixture.
Fortunately, this can be an affordable task, in the grand scheme of things. Even a new toilet suite can be purchased affordably. However, professional and licensed installation is crucial.
6. Long-term plumbing problems
Equally important is the condition of the pipes and drains. Check for possible water leaks, slow-running drains, blockages, etc.
They will have to be dealt with as soon as possible. A blocked drain could be a sign of a root infestation and require a complete replacement. Don't write off a small problem.
7. Old or defective gas appliances
The operation of gas appliances is essential. If a gas appliance looks old, ask the seller for more information. An old gas cooktop, wall heater, or even a barbecue may not meet current certificate of conformity standards.
The risk of gas or carbon monoxide leakage is always possible and it is always beneficial to contact a licensed gas installer for an inspection before any purchase.
Really, it's always best to be thorough with all plumbing and gas connections when looking for investment property.
Top suburbs:
Dulwich Hill
,
Mayfield
,
West Wodonga
,
north epping
,
Darlington
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