Today I am previewing investor properties and I want to share a couple of things that I look for during the process.
When considering a home as a potential investment property or even as a personal residence, finding a “fixer upper” isn’t a bad idea. It many instances a little sweat equity may prove to pay off with great dividends.
But it’s important to move forward with an abundance of caution. Cosmetically, it’s not difficult to paint walls, replace flooring or refresh a bathroom. These updates are quite typical in acquiring a property that needs a little work. But it’s important that in the excitement of finding a “great deal,” you don’t miss some of the telltale signs of foundation problems that could trigger a far greater investment in time and money.
Let’s discuss a few signs to look for that might indicate major foundation problems.
DOOR JAM ALIGNMENT
One of the first areas to examine if you are considering a fixer-type property is the door jam. Ill-fitting doors, cracks extending from the corners and even through the ceiling are red flags that warrant a closer look.
CUPPING FLOORS
Another sign of foundation issues is a floor with “cupping,” which is a rounding or dipping of the surface of the floor. Occasionally the floor may have a spongy or loose feeling underfoot.
Foundation issues don’t necessarily mean that a home is not a good option for investors or first-time homebuyers. But it’s important to get your facts before diving in. A good foundation inspector can provide the information you need to move forward with confidence.
THE TAKEAWAY
As a realtor, your interests are my primary concern. I believe that it’s vital to walk through a property with buyers and point out potential pitfalls, especially when dealing with a foundation. If you need a realtor you can trust in this process, call me and let’s talk.
And that’s your Forkas Find of the Day!