5 THINGS
THAT YOU SHOULD CONSIDER FIRST from Dawson & Associates Chartered Surveyors.
1. Can you afford it? Whilst we all want to get the best deal for our money, over-reaching is
dangerous. Make sure that you’re fully aware of the immediate costs (valuation
fee, legal fee, stamp duty, removals, repairs, new furnishings, etc) as well as
other on-going property costs. Many financial institutions provide mortgage
calculators so you can be sure of your deposit requirement and monthly
repayments. (check out the government’s HELP TO BUY scheme) And don’t forget to
factor in the utility bills when working out your day-to-day expenses.
2. Look for obvious signs of concern. Try to maintain a certain air of detachment even if the
first impressions are very exciting. Check whether there are signs of damp
(peeling wallpaper, condensation in the windows or odour), check for cracks in
the walls or ceilings, turn lights on and off, think about whether you are
feeling particularly hot or cold or if it seems dark and ask about security
installations such as locks and alarms. In this day-in-age it is also a good
tip to check whether you can get a phone, 3G or WIFI signal.
3. Ask questions.
Lots of questions. You need to be thorough if you are going to make a good
investment so feel free to ask if the property has had many viewings or how
long it has been on the market or what the neighbours are like or whether there
is lots of hot water or whether the washing machine is included in the sale or
how much the electricity bills tend to be…
4. Get a survey.
Before you set your heart on the property, make sure that it is structurally
sound. A building survey gives a professional appraisal of not only the
structure but also all of the building’s elements such as the roof, windows,
decoration, fixtures, fittings and services. Any detected areas of concern can
also be negotiated from the purchase price. Click here to get a free instantsurvey quote.
5. Check out the area. Your property purchase is probably the biggest investment that you will
ever make. So you do need to look outside of those 4 walls. The chance of your
investment’s value rising over years to come depends upon the perceived worth
of the location. Take a good long walk around all surrounding parks, pubs,
shopping centres, etc. And then do it again at a different time of day. And
again. You can also check the school league table to see if you’re in a good
catchment area – even if this isn’t of interest to you now, it may be in the
future or it may be a closing factor for future rebutters.
These are some great tips, especially with regard to asking questions about the property before committing as well as checking out the surrounding area. It pays to drive around, talk with possible new neighbors, and to show up at different times of the day or night to see what's going on and who's out and about. It's necessary to help keep your family safe!
ReplyDeleteMartin Moran @ Buyers Agent San Antonio