So far this is what I've stole, dug up, and added to. Anyone care to add to it or critique it? This is for us buying a SFH to live in for a year and then rent out. Sorry if its so long. My OCD was kicking in :) Thank you all for the help. Maybe this will be helpful to another newbie :)
Tools to have – Tape Measure, flashlight, electrical outlet tester.
Things to look for during initial visit
-Look under all sinks for leaks.
- Look in every corner (ceilings and floors) for any sign of water damage or cracking
- Pull out floor vents if you want to see what kind of floors are under the carpets.
- Look in the crawl space and attic if you can (always have a pocket flashlight on you)
- Roof
-Chimney
- Gutters/Soffits/Downs
- Paint/Siding
- Electric Service Drop (older homes with above ground wires)
- Electrical Breaker Box
- Exterior Doors/Jams
- Porch/Deck
- Termite Danger (ground is near wood)
- Land Grading (for water runoff)
- Cement/Asphalt
-Retaining Walls
-Garage (Door and function)
- Landscaping
-Trash Cleanup
- Windows
-Interior Doors
-Strip Wallpaper
-Drywall
-Patch & Paint
- Flooring (carpet, vinyl, hardwood, tile)
- Ceiling Repairs
-Water Damage
-Trash Removal
- Kitchen
- Kitchen Appliances
- Baths
- Water Heater
- Water Service Line
- Water Plumbing
-Waste Plumbing
-Check water pressure
-Electrical
- Joists
- Foundation
Tips
- Check the property at different times of the day
The street may be peaceful and quiet in the morning but in the evening, it may overflow with traffic. Or Mr. Peterson may be peeping through your window during the night. That is why it is important to visit the house at all times of the day.
- Inquire about the presence of neighborhood association
An association in the area means that the community in the neighborhood is closely knit. Find out if there are any newsletters or if the community in the neighborhood meets sometimes. A community indicates that neighbors care for each other and you can have a good time during celebrations.
- Past records
Ask the seller to provide you with past records of home improvement. For example, there are chances that if the air conditioning system was repaired a long time ago, it may break down at any time soon.
- Remodeling
If you think of remodeling the house, do examine the house closely. Perhaps remodeling the house may cost you a high price because the changes may not be as easy as you thought.
- Surroundings
Observe the surroundings of the house you are planning to buy. If you see one or two houses torn down, there are chances of buildings coming up at a nearby location. A huge mall may arise blocking your view or some hospital or school may come up and cause inconvenience.
- Past bills
Check how much the seller is paying in bills. The house may have high heating and cooling bills or water bills because of inefficiency in usage.
- Tax bills
Tell your neighbor to show you past tax bills. The possibilities are that if the property value increases, your tax bills will show a steep rise.
- Confirm the zoning
Confirm with the seller about the zoning in which the house is located and whether the house has any liens or restrictions.
- Go through newspapers
Check the recent newspapers to find out if there are any proposed projects in your area. It is better to find out sooner about upcoming projects than to have surprises later.
- Always get a full inspection report.
- Make sure all structures on the property are legal structures.
- Get an appraisal report if there’s any question on comps.
- If buying a rental, even if the price of the property is next to nothing, make sure your holding costs on the property don’t cause you to have a negative cash flow.
- Never buy a house on the top of a hill or with a steep driveway. Harder to sell.
- Talk to the neighbors about the history of the property to uncover anything that is unknown to the realtor.
