Why You Should Get a Home Inspection for Your Memphis Rental Property
If you’re like a lot of would-be Memphis rental property owners, you can probably think of more reasons why you don’t want to bother with a property inspection than otherwise, right? To a lot of people, they sound like a nightmare and a hassle. However, they are also not only one of the most frequently overlooked steps to consider when acquiring a potential property, but one of the most important as well.
A home inspection is necessary in order to make a truly smart, informed decision. It’s also the only way to know everything you need to know before you invest your hard-earned investment money. Let’s take a closer look at the benefits.
Assessing a Memphis Rental’s True Value
If you’re like a lot of investors, then you’re in the habit of running the rough numbers as to a property’s value through your head right at the beginning of the decision-making process. However, it’s important to realize that no matter how experienced you may be, you’re still only guessing. Even if you’re making a really, really good guess, it’s still a guess and you want to be making financial decisions based on facts.
A home inspection allows you to confirm the true value of a property before you purchase. Instead of merely guessing at what will need to be fixed in regards to the property, you’re actually finding out for sure. Repairs can be extremely expensive and costs can really add up if there are too many things to worry about in regards to just one property.
At the end of the day, you need to know for sure how much money you’ll make on your rental property and how quickly. You can’t do that if you’re still playing guessing games with yourself and potentially winding up with a fortune in hidden repairs to perform before you can actually take in any tenants. Have a home inspection done right from the get-go and you could potentially save yourself quite a few headaches down the road.
Finding the Right Memphis Property Inspector for the Job
Of course, understanding the importance of having a property inspected before you buy and actually choosing a service you’ll be happy with are two different matters. You can start the search in any of the following ways.
Ask for Referrals
One of the best places to start your search is with your fellow Memphis rental property investors, particularly those that consistently turn a great profit on the buildings they purchase. Ask them who they use. Ask them what they do and don’t like about the service they receive and then assess whether or not that same service sounds like the right option for you.
Check Online Reviews
These days, online review communities like Yelp are invaluable when it comes to getting good quality referrals. They’re not just for finding the best pizza parlors or car repair shops in Memphis either. You can find terrific home inspection services as well. Don’t forget to Google for additional reviews to potentially unearth feedback from blogs and social media outlets as well.
Interview Local Possibilities
Once you have a short list of possibilities as far as the Memphis property inspectors you’d like to consider more seriously, call each of them up. Find out how much each of them charges and compare prices. In fact, ask all of the questions you’d like and gauge your comfort with the possibilities once you’re done. Don’t be afraid to ask for references either.
At the end of the day, a home inspection report that’s thorough and informative could be the best possible tool to have in your corner when assessing your next Memphis property. Explore the possibilities today!