Colorado Pro Inspect
Tuesday, February 10, 2009
Reasons To Get Your Investment Property Inspected
I have recently talked to several individuals who decided that getting a home inspection done on there home purchase was not required. I want to talk a little about this. A large number of people who have forgone a home inspection are investors. I believe the reason for this is because they are fairly versed in the construction and renovation of homes. I also believe that they are making a calculated mistake. Many of the people who rehab investment properties do not do the remodel themselves and typically they follow a strict budget where surprises can add significant costs. What if there is a large mold problem in the crawlspace and they do not know how to recognize this type of situation? what if the roof is in need of major repair or replacement and they fail to inspect it properly? Both of these items as well as a host of other issues can be extremely expensive and completely missed by the untrained eye. One of the biggest problems I run into while doing inspections on fix and flip homes is when investors spend large sums of money on renovations like tile or wood floors, kitchen and bath remodels, and new appliances, while forgetting to invest any money into the homes major systems like the HVAC, water heater, electrical, roof, or plumbing systems. This is probably done in hopes that the new buyers will either not get a home inspection, or just flat out miss any problems with these systems. If that happens then the investor comes out okay, but if it is not missed (any good home inspector won't miss) then the investor most likely will have to either make concessions on the price of the home or fix the issues. I am not going to tell or even recommend how people should handle their fix and flip, but I would highly recommend that everyone (including investors) retain a competent home inspector to do a thorough and complete home inspection. It just makes good sense. As a home buyer or investor a thorough home inspection can alert you to many different things that even a number of professional contractors will miss. Evan Hughes and Colorado Pro Inspect offer a variety of home inspection services geared towards the new home buyer as well as the investor.
posted by
Evan J. Hughes
at
10:26 PM
To speak to a certified Colorado Home Inspector or to schedule a Home Inspection for your home, please contact Colorado Pro Inspect today. Evan J. Hughes is an InterNACHI Certified Colorado Home Inspector and will help you make an informed and educated decision on the purchase or sale of your new home.
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