065 – 10 Important Things to Consider when Buying a Property

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In Show 065 – 10 Important Things to Consider when Buying a Property originally broadcast on Facebook Live on Monday 26 February 2018 we explore this interesting topic.

Show Notes

Today on Fast Fix Monday we continue our discussion about using property to invest in your business. We wanted to talk about ten things you need to consider before you finally decide to purchase a piece of property.

  • Are there any water stains around the showers?
    If there are water leaks that can lead to holes in the all and ultimately infestation by termites or other pests.
  • Are the ceilings sagging?
    This goes to water damage as well. If you can detect a sag in the ceiling it’s a clear sign of previous problems with water.
  • Check inside all cabinets
    It can be an easy thing to overlook but checking inside any cabinets where water pipes are located is really important.
  • Check the walls for large cracks
    Any cracks greater than 2mm in width should be a cause for real concern. Once detected a qualified building inspector will be able to tell you
  • Mold in the bathrooms or bedrooms
    Mold can often be dismissed but it can have a hugely destructive impact on your health. Check for mold that looks like dirty clouds on the roof.
  • Cracks in internal wall plaster
    Small cracks in the plaster can indicate that the plaster was applied incorrectly.
  • Check external rooflines
    You want to make sure those rooflines are straight. If they are not their may be internal damage that isn’t easy to discover.
  • Check for rusted roof gutters
    Look for any rust on the inside edge of the gutter. They can look good from the outside but may be hiding corrosion inside.
  • Check the roof down pipes
    The pipes from the gutters are easily overlooked but you want to make sure they flow into actual storm drains. If that isn’t the case you could end up with a flooded house of yard.
  • Check drain holes
    This is particularly important with multi-story homes. There should be small holes above and below window and door frames. It allows water to escape and will prevent any water damage in the future.

More about this Show

We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.

Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.

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