8/11 Risk 8: Structural Faults!

A lesson I learned early on is about Structural Faults.

One of the things you should consider is whether your properties have good structure and building standards. This is one of the reasons why I recommend that you only purchase new properties for investment, as it reduces the likelihood of poor building standards.

These properties should also come with a builder’s warranty and structural guarantee.

Before we make a decision on a property for a client, we do our research on the builder. We engage only with the most reputable builders who have a proven track record of building in the chosen location. Lenders will ask to see the builder’s insurance prior to funding.

Before completing the handover of your property, you should have two building inspections carried out. Then when your first tenants move in, also encourage them to report all defects within the warranty period. This will ensure that these problems are dealt with before you have to pay for them out of your own pocket.

If you want more information please get in touch with my team at 1300 372 677 or info@integrityx.com.au.

See you next time, when I talk about how to manage the risk of Pest Infestation🪳

~Daimien Patterson

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Legal Disclaimer: This information ('the information') is presented for illustrative and educational purposes only. It is not presented nor should it be treated as real estate advice, legal advice, investment advice, or tax advice. All investments involve risk and potential loss of money. If you require advice in any of these fields you should contact a suitably qualified professional to assist and advise you. Your personal individual financial circumstances must be taken into account before you make any investment decision. We urge you to do this in conjunction with a suitably qualified professional. Daimien Patterson, IntegrityX Enterprises Pty Ltd, and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers do not guarantee your past, present or future investment results whether based on this information or otherwise. Daimien Patterson, IntegrityX Enterprises Pty Ltd and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers disclaim all liability for your purchase decisions. You should do your own independent due diligence and seek the advice of qualified advisors before making any investment decision.