Property Investors Warned
Property investors have been warned that it is necessary to have an independent and professional property inspection before buying a property so that the quality of the property can be checked. Weak properties can destroy the investment portfolios of self-managed super funds.
Without inspecting the property first, property investors will only find out about the structural issues of the property when they are already living in the place or renting it out. For individuals with self-managed super funds, they must seek the assistance of a professional to conduct property inspection to protect their finances.
Structurally weak properties can deplete self-managed mutual funds due to renovation and maintenance projects such as plumbing, faulty wiring, illegal building and termite infections that could potentially exist in a property. If a property is purchased as an investment, the owner would have to make the necessary renovations first before being able to rent it out therefore missing out on crucial rental income for a period of time.
