Surprise! Dogs are not allowed in this neighbourhood, your car cannot fit into this garage, you are not allowed to park in the driveway. Are you in the process of buying a home or are you making such preparations? Well, best believe when I say due diligence is very necessary. It is very important to do your own research and investigation. The due diligence period is a certain amount of time you must do all the research on the home you intend to rent or purchase so that there are no surprises. There are a few basic things you need to know before closing on the home you intend to rent so you are fully aware of what you may be getting into.
Your time to become an investigator is here…lol! Why is this period called ‘due diligence? Well, you are doing your due diligence; finding out all the details now so you can avoid any future issues. This is your responsibility as well as your right! I need to quickly add that these are the more easy-going factors you need to look out for as part of your due diligence.
#CELL PHONE RECEPTION
Inasmuch as this may sound very trivial, it cannot be overlooked especially in this day and age. You will only understand how important this is when you already purchased or rented the home and there is ONLY ONE, I repeat ONLY ONE spot in the whole house where you have good reception. Worst case scenario is when this one spot is the verandah or even outside your gate. Kindly walk through the entire place with your phone out. Believe me, there is nothing worse than having to make every phone call outside your gate no matter the time of the day.
#TEST OUT THE SHOWER
Imagine signing off a lease or contract of sale only to discover that you will be washing under a trickle even as a homeowner. How disappointing! Do test out the shower and questions relating to it if you must.
#CUPBOARDS, CLOSETS AND CABINETS CHECK
Do take the time to look inside the cupboards, closets, and cabinets. Especially in the kitchen. Again, another thing that is often overlooked but a quick check could save you tons of trouble. Unless you want to risk having a few rodents and insects as your new, non-contributing house and roommates.
I bet you never thought this could be a problem, but it certainly is. Please and please again, measure your big furniture (couches, beds, dressers etc.) before you even go hunting. You may also bring a tape measure along on your hunt just to make sure your furniture will fit through the doors. You may have to move into your new home without your best and favourite couch or bed if you fail to do this.
When it comes to the average electricity or water bills do not necessarily trust the Landlord’s quote. Ask other tenants what their bills average before signing any lease or contract of sale. It may well turn out that a place you thought seemed cheap is really beyond your budget.
Truth be told, a seller is supposed to disclose any defects with the property before you conclude the agreement but wait, what if he doesn’t? Caveat emptor or caveat venditor? A topic for another day. After making your discoveries, you can definitely ask the seller to; a) fix the issue b) reduce the selling price or c) give you a credit so you can fix it yourself.