Top things to check before making an offer
Searching for the perfect property to buy is a mission.
And the current record low levels of property coming onto the market is making it even harder.
So, it is not surprising that you are over the moon when you finally find a property that you want to buy.
But, when the excitement levels are high, it can be easy to overlook important things.
Searching for the perfect property to buy is a mission.
And the current record low levels of property coming onto the market is making it even harder.
If you are trying to move you have probably been looking for a property for a while.
You have likely done countless viewings.
Spent hours searching online.
Check every alert on your emails straight away so that you don't miss out.
So, it is not surprising that you are over the moon when you finally find a property that you want to buy.
But, when the excitement levels are high, it can be easy to overlook important things.
Perhaps there is something glaringly obvious about the property that you haven't thought about.
Something that you've missed somehow?
Perhaps there is a motorway close by that you will be able to hear from the property?
Perhaps there is a huge tower block overlooking the garden? Will you ever get any sun during the summer months?
What about the practical things? Electrics? Boiler servicing? Water pressure?
Sure they don't seem that important now, but once the initial excitement has worn off and you are trying to have a shower with just a trickle of water, you may wish that you had checked more thoroughly before buying!
This is certainly not as sexy as deciding on the property.
And it is not as exciting as making an offer and receiving the call that it has been accepted.
But it is critical not to overlook these practical, albeit slightly more boring, points.
Development potential - Many people like to know that they can alter or extend their property if they want to. There are many reasons that you may need more space. If your household grows in the future, you can increase the size rather than move. Perhaps you decide that you would love a bigger kitchen or add a workshop, hobby room, or home office. There are many options available, but only if the property has the space, to begin with. So, could you extend this property? Is there some way to increase the size or improve the layout that could also increase the home's value and mean that you wouldn’t have to move again?
Aspect - For years, people have said that a south-facing garden is the most desirable. Well, in truth, what they mean is that the garden will have plenty of sun during the summer months. In fact, if there is nothing around the property that will cause a shadow, it is not that important. Likewise, if the property is heavily overlooked, the aspect of the garden could be irrelevant if the sun is blocked from all angles! Have a look around the property and see when the sun will be in the garden during the day, don't just assume South facing is good or that any other aspect is bad.
Flooding risk - Flooding is disastrous and causes total chaos, untold damage and heartache. A quick check to see if there is a risk of flooding is a good idea. It is often clear that a flood would not be likely - the property could be up a hill or nowhere near a water source. But, the weather is constantly changing, and floods have happened in places that have never been affected before in recent years, so it is a good idea to double-check.
Bills - Council tax? Gas bill? How much does it cost the sellers to run the property? Remember that people live differently, so it will not be exactly the same for you. They might never put the heating on! But having a general idea of the monthly costs will allow you to budget. Perhaps the outgoings are higher than you had anticipated, and you may decide to move on to the next property. Or that there will be expenses involved to improve the energy efficiency of the property so that you can bring those bills down.
Water pressure - It is possible to buy showers with additional pumps to improve water pressure if it is no good, but do you want to wait an hour whilst the bath fills up? Double-checking the water pressure is a good idea before you commit to buying the property as if this is a deal-breaker for you, it is better to know now than to find out after you have moved in!
Ideally, arrange a second viewing and bring someone with you that can be objective.
They will not be looking at the property through rose-tinted glasses, and they will not have the same level of urgency as you do after all of those hours of viewings you have already done.
Before going on your second viewing, plan out the questions you need to ask and write them down!
Then, go into the property with an objective mind and try to find faults. Making a pros and cons list can help to highlight potential issues. Then, afterwards, you can look through your con list to see if these are things that you can compromise on or find a way to work around them.
In reality, a compromise can be made on most things or there is a product or purchase available that could improve almost any issue. Still, only you can decide if you are willing to compromise or find a workaround. Perhaps the problem is a deal-breaker for you, and you have to keep looking?
Try not to get caught up in the excitement and buy a property that may not be PERFECT for you.
No property is 100% perfect and compromises will have to be made, but it is better to be aware BEFORE you buy. You do not want buyers' remorse after the completion day!