Potential First Investment Property

[Mark Laczynski]

I looked at a property today that I would be happy to put an offer out. Two questions are coming to mind before pulling such a trigger.

1) The basement is unfinished, I'm curious if there is any reason someone could not finish a basement that would include a bathroom & kitchen. Is there something I should check for myself? (The property currently is a multi family top-bottom situation)

2) Should I have a contractor look at the basement before putting my offer in or is there another time in the buying process I can bring them in?

Looking forward to your insights.

[Nathan Gesner]

Quote from @Mark Laczynski:

I looked at a property today that I would be happy to put an offer out. Two questions are coming to mind before pulling such a trigger.

1) The basement is unfinished, I'm curious if there is any reason someone could not finish a basement that would include a bathroom & kitchen. Is there something I should check for myself? (The property currently is a multi family top-bottom situation)

2) Should I have a contractor look at the basement before putting my offer in or is there another time in the buying process I can bring them in?

Looking forward to your insights.

You need to ensure the basement remains dry, as they often leak. There should be legal egress windows so occupants can escape in case of fire. You can talk to the City Planning and Zoning to find out what's permitted. You should be able to do this during the inspection phase once the property is under contract. Talk to your REALTOR.