Anytime you invest in property that is not going to be your primary residence, there are many big considerations to take into account to make sure you pick just the right home that will be a great return on investment. Picking the wrong rental home could cause your investment to be a bigger cash drain than you ever imagined. When you’re looking for just the right investment property, let Real Property Management Central Arkansas help you find an ideal match. Previously on the blog, we’ve touched on various key things to look for in an investment property but if you’re really looking to see your equity grow and your bank accounts, you need to remember these critical areas too.
Consider the Age of Everything
When we say consider the age of everything, we mean everything. This includes everything from the roof to the water heater. You also can’t rule out the appliances, HVAC system, breaker box, and plumbing. There are many different things that can break in a house, some much more costly than others. Age plays a large role in how quickly after a home purchase you may find yourself having to put money into a home. You have to remember that even if you aren’t living in the home, you still have to keep it up to certain safety and habitability standards. Newer homes or homes that have been well cared for over time can provide you with a great investment that is less likely to put a strain on your wallet.
Look Closely at the Inspection
As you shop around for an investment property that you plan to use as a rental home, it’s important to take the time and look at the inspection. Inspections can bring up pertinent issues that you may not have expected or been prepared for. Being critical of an inspection means that you’re going to place your money where you are less likely to have to dump extra.
While basements can be a nice addition and add value to your home, especially if they are finished, they can also be a major hassle for any owner. The basement is the place where people either dump their stuff and forget it or choose to leave it when they move. It can take time and effort to make sure that it’s up to par between renters.
The specialists at Real Property Management Central Arkansas can help you find the perfect investment property to use as a rental home when you come to us! Contact us today to see how we can help you in your search.
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