Purchasing a home is a daunting task. Even if you’re not a first-time home buyer, it’s likely that you haven’t moved in a few years. It should come as no surprise that purchasing a home is typically the most expensive transaction you will ever make. What will astound you is that we spend an average of 25 minutes seeing a house before deciding to buy it! These are the ten most important questions to ask when seeing a home.
Duration of the property in the market:
If the house has been on the market for more than three months, you should inquire as to why. Is there a flaw in it that you haven’t noticed yet but that more savvy customers have noticed? Any potential faults will be discovered through surveys, but it’s preferable to find out before you get too connected to the notion of buying a home. Every buyer will have a major question in mind after a property purchase – “how much is my house worth?”. An expert could give you an accurate answer to this through a proper property valuation.
Is the property attracting a lot of attention?
It’s pointless to ponder how many other people think the same way you do about a property if you really appreciate it. Inquire about the number of viewings and any offers that have been made. Select a busy time to view the home, such as a Saturday morning, and if other people are viewing the home before and after you, you know it’s popular. You should also inquire as to what (if any) bids have been made thus far; the estate agent will normally tell you, albeit the amount cannot be disclosed.
How is the neighbourhood?
What are the conditions like at the schools? What is the crime rate in your area? ‘Would you be delighted to live here?’ is one of our experts’ favourite questions to ask your estate agent. Make sure you conduct your own research as well. It’s important to remember that while any house can be restored, it cannot be relocated.
How long did the owners reside there?
Why are the owners leaving after such a short time? This is a critical point. The owner may simply be relocating to a new region or purchasing a larger property, but there could be a variety of additional factors that make the property unappealing to a potential buyer. Remember that sellers are required by law to disclose any neighbour issues. Also, remember to inquire about the length of time the owner has lived there, since a sudden move is a solid sign of problems.
Have there been any recent huge renovations?
If you don’t plan to have a comprehensive structural survey done on your home, make sure you find out about any recent improvements and request proof, such as builder’s invoices or guarantees. Verify that any recent works have received planning authorization and the freeholder’s consent (if applicable). You may have to demolish it if proper approval for an extension was not acquired. A fresh coat of paint could indicate that the seller is masking cracks or wetness. Lift rugs to make sure nothing unattractive is hidden beneath them. Keep an eye out for the musty odour of dampness.
Is the property on the National Register of Historic Places or in a Conservation Area?
This will become apparent during the conveyancing procedure, so why wait? If you acquire a listed home, you may be limited in the improvements you can make both outside and, in some situations, inside. If the property is located in a conservation area, additional limitations may apply.
How strong is the water pressure?
Examine the piping and water pressure. Imagine waking up on your first morning in your new home to discover that the shower is only a trickle. While you’re looking around, check the faucets and take a shower. These factors may or may not influence your decision, but they are ongoing costs that will increase the monthly cost of buying a property and are crucial to consider.
What will the cost of your bills be?
Investigate how much the Council Tax and utility bills are, and if the owners are present, try to get an accurate number for monthly bills from them. If necessary, you can even ask the estate agent to speak with the seller.
What’s included in the purchase price?
Is the greenhouse or garden shed included? Are the fixtures and fittings in good condition? What is the exact location of the boundary? Make certain you understand exactly what you’re getting for your money.
Have the sellers found a new place to live?
When do they intend to relocate? Being in a chain might cause issues for purchasers because any delays or troubles experienced by the sellers will affect you. The ideal situation is for the property to be chain-free, but if it isn’t, knowing the sellers are organised and eager to sell will help ensure a speedy and painless sale.
