PRE-PURCHASE PROPERTY ASSESSMENT: HOW TO ASSESS A PROPERTY

Video Lesson Summary:

There are nine components of the pre-purchase property assessment you’ll need to look at during this stage of the process. These are:

1. Restrictions – WHAT AM I ALLOWED TO DO THERE?
2. Neighbors and the Neighborhood – WHAT’S SURROUNDING THE PROPERTY?
3. Natural disasters – HOW VULNERABLE IS IT TO NATURAL DISASTERS?
4. Topography – HOW IS IT SHAPED?
5. Solar access – HOW MUCH SUN DOES IT GET?
6. Water access and potential – HOW MUCH WATER CAN I ACCESS?
7. Access – HOW ACCESSIBLE IS THE PROPERTY?
8. Infrastructure – WHAT’S ON THE SITE AND HOW IS IT ARRANGED?
9. Soil and vegetation – HOW DEEP IS THE SOIL/WHAT’S ALREADY GROWING THERE?

The overall assessment process is split into three distinct phases: 1. Preliminary research, 2. Google Earth remote assessment, and 3. On-site assessment. For each phase, you’ll use the tools and the step-by-step instructions I’ve supplied you with and perform the assessment.

As you gather the intel, you’ll fill out the sheet I’ve prepared for you and create a profile for each property you’re strongly considering. Then you’ll be ready to move to the last phase of the process – property selection.

Action Steps:

  1. Download or make a copy of the property assessment sheet.
  2. Access the preliminary research, Google Earth remote assessment, and on-site assessment online tools and do the assessments as you consider various properties.
  3. Create a profile for each of the properties you look at and write your evaluations in the spreadsheet provided.
  4. Proceed to the next module: M5 Property Selection.

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