Did you know that, on average, a person views a home just three times before they move in? For such an important investment, this is fairly low, especially as significant problems can be easily missed. Therefore, never be afraid to query as much as you can before committing to a property; there’s no such thing as asking too many questions!
Question yourself, your estate agent and the homeowner (if you can), to determine a detailed, overview of a property before you start spending. I have highlighted questions below that I always encourage my clients to ask:
- Questions to ask yourself
- What can I afford?
It sounds simple, but always have a clear understanding of what you can afford. Research areas, mortgage rates and speak to a financial advisor before committing to a lender. Aim for a deposit that is achievable and will give you an optimum mortgage rate.
- Is the location desirable?
Research the neighbourhood and ensure that it is suitable for your needs e.g. parking, commuting and accessibility.
- What are my long-term plans?
Always ensure that the property fits in with your long-term plans. If you aim to reside in a property for a while and you would like to start a family in the future, ensure there is enough room and whether there are suitable schools nearby.
- How much will I pay in council tax?
Council tax varies a great deal between properties, so always inquire into what the current rate is. If you are buying a leasehold, it is sensible to check what the service and ground fees are. All of these costs can have an impact on your overall budget.
- Can I manage renovations?
Sometimes the right property will come along, but it will require a degree of work. This could be a new bathroom or an extension to create much-needed space. Always factor in the costs by speaking to local builders and having an estimated cost in mind. Most importantly, ask yourself if you have both the time and patience for the upheaval it involves.
- Do you want it, or do you need it?
Sometimes we just fall in love with a property and gloss over any imperfections. However, these imperfections could be costly, so always try to lead with your head, not your heart! Question whether buying this particular property is an emotional or a practical decision.
- Does this property have a long-term resale?
Properties inevitably fluctuate in value, but there are certain details that can hinder a resale. Properties with undesirable leases and buildings that are of non-standard construction, i.e., concrete structures, will often have a lower resale value and can be tricky to mortgage.
- Questions to ask the Estate Agent
An agent is legally obliged to tell you if there are any major problems with the property. So, always ask them questions whilst looking around and before making an offer, by asking for information such as:
- How long has the property been on the market?
This will give you an idea of whether the property is in demand and clues for potential problems.
- Has any work been carried out on the property?
It is sensible to always ask if any particular work has been carried out in the property. This will protect you legally in the future if there are any problems.
You may need building control certificates, proof of planning permission or a FENSA document.
- Are there any planned developments nearby?
Neighbouring developments, big or small, can have an impact on your lifestyle and wellbeing. The construction of a new housing estate, for example, could be noisy and have long-lasting, problematic consequences.
- Can you confirm what land belongs to me?
A shared drive or a parking spot has the potential to cause problems further down the line. Ask as you view a property and you will be prepared.
- Questions to ask the Homeowner
Some viewings may be carried out by the homeowner. This is the perfect opportunity to get a feel of a property. Consider asking:
- Why are you moving?
- What are you intending to leave at the property?
- What are the neighbours like?
- What is the neighbourhood like at night?
- Is there good mobile reception / WIFI in the area?
A homeowner may not be entirely honest with their responses if they are desperate to move. For example, if inconsiderate neighbours are pushing them out then the vendor is unlikely to share this. However, it is always worth asking. You may observe a subtle hint if there are any issues!
As with most things in life, information is key! Asking as many questions as you can, will provide an extensive, overall picture of a property. Have you ever asked any major questions that changed your opinion of a property? I would love to hear.