01 — Before You Walk In — Look at the immediate street before focusing on the property.Consider neighbouring properties, parking, traffic, noise, upkeep and anything that could affect tenant or buyer appeal.01 — Before You Walk In — Check the property's orientation and surroundings.Nearby buildings, roads, commercial premises and overlooking can materially affect desirability.01 — Before You Walk In — Compare the property with others nearby.Look for extensions, loft conversions and refurbishments that may indicate what has previously been possible in the area.02 — Exterior & Structure — Inspect the roof from ground level.Look for missing or damaged tiles, sagging, ageing coverings and obvious problems around chimneys or flashing.02 — Exterior & Structure — Look for significant cracks or signs of movement.Pay particular attention around windows, doors, extensions and where different parts of the building meet.02 — Exterior & Structure — Check external walls, render and pointing.Crumbling mortar, blown render or persistent staining may indicate maintenance or moisture issues.02 — Exterior & Structure — Inspect guttering, downpipes and drainage.Look for leaks, staining, overflowing gutters or signs that water is being directed towards the building.02 — Exterior & Structure — Assess the condition of windows and external doors.Replacement can become a significant refurbishment cost across an entire property.03 — Damp, Water & Ventilation — Look and smell for evidence of damp.Check corners, external walls, around windows, behind furniture and at low level on ground-floor walls.03 — Damp, Water & Ventilation — Check ceilings for staining or previous water damage.Fresh paint in isolated areas can also justify asking further questions.03 — Damp, Water & Ventilation — Assess ventilation in kitchens and bathrooms.Poor extraction can contribute to condensation, mould and ongoing maintenance problems.04 — Heating, Electrics & Plumbing — Check the boiler and heating system.Establish its approximate age, location and apparent condition, and ask when it was last serviced.04 — Heating, Electrics & Plumbing — Look at the consumer unit and visible electrical fittings.An older installation does not automatically require replacement, but it may justify further investigation.04 — Heating, Electrics & Plumbing — Test the water pressure where appropriate.Turn on taps and showers and look for obvious leaks, slow drainage or unusual plumbing arrangements.05 — Layout & Refurbishment Potential — Assess whether the existing layout suits the intended tenant or buyer.A large property does not necessarily have a commercially useful layout.05 — Layout & Refurbishment Potential — Identify obvious opportunities to improve the layout.Consider underused rooms, kitchen positioning, storage and circulation without assuming structural changes will be straightforward.05 — Layout & Refurbishment Potential — Look for extension, loft or reconfiguration potential.Treat this as an opportunity to investigate rather than assuming planning permission or consent will be available.05 — Layout & Refurbishment Potential — Separate essential works from optional improvements.Distinguish what must be repaired from what you would simply prefer to upgrade.06 — Kitchens, Bathrooms & Finishes — Assess the remaining useful life of the kitchen and bathroom.They may be usable today but still represent near-term capital expenditure.06 — Kitchens, Bathrooms & Finishes — Look beyond cosmetic presentation.Flooring and paint are relatively straightforward; structural, electrical, heating and water problems are not.07 — Rental & Resale Appeal — Ask yourself who would realistically rent this property.Consider whether the size, layout, location and specification match the intended tenant market.07 — Rental & Resale Appeal — Consider the future resale audience.Properties attractive to both investors and owner-occupiers can potentially provide a broader exit market.08 — Before You Leave — Record the major costs while the viewing is fresh.Photograph or note anything likely to affect your refurbishment or maintenance assumptions.08 — Before You Leave — Identify what still needs professional investigation.A viewing is not a survey. Record questions for the agent, solicitor, surveyor, broker or relevant specialist before making the investment decision.
This is a viewing prompt, not a survey. Use it to notice the details that can change the purchase price, works budget, rental appeal and eventual exit before you become committed to a property.
How to use it
Work through the observations during the visit, taking photos and notes where permitted.
Separate clear defects from questions that need an agent, surveyor, contractor or lender to investigate.
Do not use a promising layout or cosmetic presentation as a substitute for evidence on condition and cost.
What to do next
Turn your notes into a realistic costed plan. Confirm the serious issues with appropriate professionals, revise your assumptions, then decide whether the asking price still supports the investment case.
This checklist is provided for general information and research purposes only and is not a substitute for a professional property survey. It does not constitute investment, mortgage, tax, legal, valuation or surveying advice. Where you identify potential defects or concerns, obtain appropriate professional advice before proceeding.
PROPERTY THESIS — INVESTOR BRIEFING
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PROPERTY THESIS — INVESTOR BRIEFING
Property analysis worth opening.
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