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Building Code

Building codes are sets of regulations that govern the design, construction, alteration, and maintenance of structures. They specify the minimum requirements to adequately safeguard the health, safety, and welfare of building occupants.

Building codes play a vital role in the real estate industry. Before an investor purchases a property, they must be aware of the building codes that apply to that property, as compliance with these codes can significantly impact the cost of any planned renovations or developments.

Non-compliance with building codes can lead to legal problems, fines, and can potentially affect the value and insurability of the property. Therefore, investors must take building codes into account when making investment decisions.

Additionally, changes in building codes over time can impact the value and potential uses of an investment property. For example, changes related to energy efficiency or accessibility can require significant renovations for older properties. This could also be a factor that influences the attractiveness of a property for potential tenants or buyers.