Buying a property is a major decision that can have a lasting impact on your life and finances. Therefore, it is crucial to thoroughly assess any prospective property before making a commitment. Whilst focusing on aesthetics can be appealing, delving deeper into the property’s actual details is essential to ensure it also meets your practical needs.
Understanding the history of a property may unveil critical information. You can ask about things like its age, previous owners, and any major renovations or repairs that have taken place. Don’t forget to ask about the neighbourhood as well.
Before you sign a contract, you should know how affordable your new home will be once you move in. How much tax and insurance can you expect to pay, and what do utilities and maintenance costs come to?
By being aware of things such as easements or zoning restrictions can help you ensure you don’t encounter any issues once you move in, or waste money on a refurbishment that may have to be removed.
Understanding the seller’s motivations can work to your advantage. For example, if they are in a hurry to sell, there may be more scope for negotiation. If they are moving because of a problem, it also could help to be aware of that.
You might choose to enquire about the property’s location. This type of information is vital for insurance purposes, as well as helping you gauge any potential risks.
This is by no means an exhaustive list, but taking a moment to consider some questions before you commit will help you to make a more accurate and informed decision.