House hunting can be the most exciting part of the home-buying process. But you must never let those pretty white fences, or beautiful countertops cloud your judgment. It is an investment, after all…and one of the largest you may make in your lifetime.
While viewing a property, write down and keep a look out for the following:
- Level floors and sound piling
- Dry rot or borer in weatherboards or underfloor
- Damage to walls, floors, or carpets
- Electrical issues like old or worn wiring
- Dampness – musty smells or mildew
- Insulation, above the ceiling and underfloor
- Water tightness – look for stains on walls or ceilings, check in the space above the ceiling and look for light coming through holes in the roof
- Noise from traffic, planes, nearby businesses
- Will the neighbors cause any problems?
- Drainage and potential for flooding or slips
- Why the current owner is selling?
- Planned redevelopments that could change the neighborhood
- What the current owner will leave or take away
- Any restrictions on how you can use the property