1. Location, Location, Location
It’s the age-old mantra in real estate for a reason. A prime location can trump almost any other flaw a property might have. Look for proximity to amenities, good schools, transport links, and economic stability in the area.
2. Structural Integrity
Keep an eye out for signs of structural damage, including cracks in the walls, uneven floors, and issues with the roof. These can be costly to repair and can significantly affect the property’s value.
3. Layout and Space
The flow of a property can greatly influence its livability and rental appeal. Look for layouts that make efficient use of space, offer natural light, and have the potential for easy modifications if needed.
4. Potential for Value Addition
Identify properties with the potential for value addition through renovation, extension, or change of use. These opportunities can significantly increase your return on investment.
5. Market Demand
Understand the local property market and demand trends. Properties in high-demand areas or those appealing to a broad segment of renters or buyers are usually a safer bet.
6. Legal and Regulatory Compliance
Ensure the property complies with local building codes and regulations. Check for any outstanding issues that could affect your ability to renovate or alter the property.
7. Energy Efficiency and Sustainability
Properties with good energy ratings and sustainable features are not only more cost-effective to run but are increasingly in demand among environmentally conscious renters and buyers.
8. Community and Neighbourhood
The surrounding community and neighbourhood vibe can greatly influence a property’s desirability. Look for areas with a strong sense of community, safety, and positive development trends.
What to look for when viewing a property.
