Whether purchasing your first
home, or you’re looking to invest in rental property, many people have asked
what they should be watching for, when going to view a home.
- Area of property- Convenience seems to be a big
concern for Americans today. We live in the “hustle and bustle”
times. Having everything at your
finger tips seems to be priority these days, to make life easier. When looking for a property, you may
want to look at different variables such as local schools, are the
interstates close by, how convenient is shopping and entertainment. As a property manager these are the main
questions I am asked by potential renters.
- Neighbors- By driving the neighborhood on several
different occasions, you will get a feel of how potential neighbors
are. Look at the property and the
neighborhood from a renters prospective.
When a prospective renter drives by, will they keep on driving? Are the home, landscaping and
neighborhood appealing enough to the eye that they can picture themselves
living and raising a family there? And what to the houses close by look
like? How are the neighbors? A “for
sure” sign is the cars in the driveway.
Are the cars nice or are the junk? The type of cars driven by home
owners in the neighborhood should be a good indication of both the type of
people living around you or your potential renters as well as the security
of the neighborhood.
- Curb Appeal- A nicely groomed yard, and a fresh
coat of paint on the exterior of the home are key to attracting both
buyers and potential renters. Who
wants to live in a house with cracked paint on the outside, or an
overgrown yard…”If its appealing to the eye, better chance is they are
going to buy.”
- Interior- What’s the size of the home? How big are the bedrooms? Is the living
space beneficial for an average sized family? If the home is too small,
chances are you will attract mostly “singles” vs. couples or families. By
attracting singles, your rental income will not escalate as vastly. Shared expenses such in a roommate type
situation, mean less impact than what would be on a family so to speak,
bottom line is that persons who are sharing expenses can absorb more rent
increase over a period of time vs. before needing to move.
- Condition of home- Does the home need new carpet? Do the
bathrooms need remodeling? Is the kitchen roomy? The first thing that the
renter sees when walking into a home is the floor. Dirty, dingy carpet is the biggest turn
off inside a home. If a bathroom is
outdated or cramped, it detours a potential renter. The kitchen is 9 times
out of 10 your selling point. If
the kitchen has enough space to cook those holiday meals where several
people can move freely within, and there is ample cabinet space and
counter space, you’re sure to sell this home. Don’t forget to consider if the home is
dirty, or smoky. When buying or
renting a home, make sure all baseboards, window sills, and crevices are
clean. If the walls are smoke
stained, then toss a fresh coat of “oyster colored” paint on the
walls. I wouldn’t suggest using
white paint. It shows all dirt and
smoke, etc. After all who wants to
live in a dirty home.