When getting a residential property investment, one of the most important qualifications would have to be regarding that of safety and security. We all want homes where we can sleep and relax in peace without any fear of something bad happening to us. Even if the asset is meant to be leased out or sold, such is still important as no tenant or buyer will get it should it be unsafe to inhabit. No one wants a horror and serial thriller movie come to life. Do you?
To ensure safety and security on the residential property that you want to invest in, read through the following checklist as a guide. Heads up!
Item # 1: Quality in Structural Materials
A home will never be safe if the materials used in its construction are not top caliber. To assess this, you may want to get a copy of the house’s blue print from the owners or sellers. Another option is to call on the services of a chartered surveyor for a building examination.
Item # 2: Building and Land Condition
Another point is the condition of both land and structure. This is especially true if the asset you are looking at is not brand new or is one where a different structure used to occupy. Again, getting it surveyed should help establish and assess this category.
Item # 3: Low Crime Rate
Check into the local station and even go and interview a couple of residents in the neighborhood. Ask about the past and present situation of the community regarding crimes and safety. Have there been recent burglaries or theft lately? How about similar other incidents?
Item # 4: Low Calamity Count
Natural calamities unlike accidents and crime are a different thing and one which we have no control of. However, it is still best to research about a certain town, city or location when it comes to these things. Keep in mind that there are areas which are considered more flood prone compared to others. There are also cities that can suffer more storm or tornadoes than the rest. We also have earthquake prone zones. It’s best to avoid those, do you agree?
Item # 5: Access to Significant Establishments
Last on our list has something to do with accessibility. In cases of emergency, it is more convenient and safe to have a residential property investment that is in close proximity to establishments like hospitals and police stations for example.