How to Conduct a Successful Property Inspection

Conducting a property inspection stands as one of the most important steps in the real estate process. Knowing what to look for can be tricky, but it’s essential to spelunking through potential investments. Here’s what you need to know about how to conduct a successful property inspection.

The Basics of a Property Inspection

A property inspection will cover several different aspects of a home or building, so it’s essential to allot enough time for it. A property inspection typically includes an evaluation of the roof, attic, walls, ceilings, bathrooms, windows, interior, exterior, and much more.

It’s important to note that many property inspections won’t cover certain things like radon, termites, mold, and the potential presence of asbestos.

What You Need for a Property Inspection

Before you can conduct a property inspection, you’ll need to make sure you have the necessary tools. Here’s what you’ll need:

1. A Ladder

You’ll need a ladder to reach higher-up areas of the roof and attic. It should be at least eight feet tall and should be sturdy and stable enough to stand on.

2. Flashlight

A flashlight will be essential in examining various household areas and out-of-reach places.

3. Binoculars

In order to get a closer look at the roof and upper parts of the home, binoculars are a must-have.

4. Pliers & Screwdrivers

Pliers and screwdrivers are a must in order to open up the faucets, sinks, meters, and other appliances and fixtures to examine for signs of water damage or similar issues.

5. Moisture Meter

You’ll want to invest in a moisture meter to test the humidity levels around the property. This will help you detect any hidden signs of water damage.

Preparing Yourself for the Inspection

The inspection process can be time-consuming and complex, so it’s important to prepare yourself in order to perform it successfully. Here are a few tips to keep in mind when preparing yourself:

1. Know the Laws

It’s important to familiarize yourself with the laws in the area you’re inspecting. You should also check local building regulations and see if there’s anything that must be addressed in the given property.

2. Utilize a Checklist

It’s a good idea to have a checklist of the specific things you need to check during the inspection. This will help you avoid missing any areas and give you a better way to document any property issues and discrepancies.

3. Take Photos

Take as many photos as you need throughout the inspection in order to capture any potential issues and provide evidence of any problems.

Conducting the Property Inspection

Now that you’re prepared for the inspection, it’s time to put your knowledge to the test and get to work. Here are a few steps to guide you through every stage of the process:

1. Find the Unseen

The first step in conducting a successful property inspection is to identify the issues that aren’t immediately visible to the naked eye. This may include checking for structural damage, air leaks, mold growth, and more.

2. Check for Appliances and Systems

It’s essential to check for the various systems and appliances in the property during the inspection. This will involve examining the AC and heating systems, plumbing and water systems, electrical systems, and any appliances.

3. Examine the Roof & Exterior

The roof and exterior of the property are important areas to inspect. This will involve checking for issues such as damage, peeling paint, or any other signs of water damage.

4. Analyze the Interior

Once you’ve finished inspecting the roof and exterior, you can move inside the property and analyze the interior. Check the flooring, walls, ceiling, windows, and doors for potential problems.

Evaluating the Inspection Results

Once you’ve finished the property inspection process, you’ll need to evaluate the results and determine if the property is worth investing in. Here are a few tips to keep in mind when evaluating the inspection results:

1. Determine the Cost of Repairs

You’ll need to determine the cost of repairing any issues before making any decision. Consider working with a contractor who can provide an estimate of the cost of any necessary repairs.

2. Check Your Budget

It’s always a good idea to double-check your budget before making any decisions. Be sure to consider any possible expenses associated with the repairs and make sure you have enough room in your budget for them.

3. Consider Other Alternatives

If the property needs too many repairs or the cost is too much, it may be worth considering other alternatives. Check out nearby properties and see how they stack up against the one you’re considering.

Conclusion

Conducting a successful property inspection requires time, effort, and the right knowledge. By understanding the basics of a property inspection and following the tips above, you’ll be well on your way to spelunking through potential investments. With the right approach, you can conduct a successful property inspection and walk away with an informed decision.

What are the benefits of a successful property inspection?

1. Ensures the safety of the property: A thorough property inspection will reveal any potential safety issues, such as electrical, plumbing, and structural damage. This can help protect you and any tenants who may occupy the property.

2. Identifies problems before they become major costs: A thorough property inspection will also identify problems that can be easily fixed before they turn into much more costly repairs. This will help you maintain the value of your property in the long term.

3. Minimizes risks: A successful property inspection can help minimize risk by providing behavioral and environmental cues as to what the current state of the property is.

4. Provides peace of mind: A successful property inspection can provide you with the peace of mind that you have a better understanding of the current condition of the property. Knowing the condition of the property can help you make informed decisions moving forward.

What are common items that a property inspection typically looks for?

1. Structural integrity of the building (foundation, walls, roof, etc.)

2. Plumbing and electrical systems

3. A/C and heating units

4. Attic, basement, and crawl space insulation

5. Exterior features such as windows, doors, gutters and downspouts

6. Condition of the roof and chimney

7. Interior walls, ceilings, floors, and visible signs of water damage

8. Fireplaces and wood-burning stoves

9. Working smoke and carbon monoxide detectors

10. Appliances and fixtures

11. Overall cleanliness

12. Adequate drainage and grading surrounding the foundation Of the house

13. Pests or signs of pest infestation

14. Signs of mold or mildew.