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Buying a Property? Things to Have in Mind Before it Gets Complicated
23 November 2018
When you're browsing for a new property, don't get carried away if you find a property that you love at first sight. There are many factors to be considered before you make that big decision to buy it. Otherwise, you could regret it after a while big time. Here's what to pay attention to when considering a property.
1. Check the foundations
Some hairline cracks are to be expected but the big ones are to be concerned about. Check carefully around the place where extensions connect, as well as bay windows and the edges of terrace walls. However, bear in mind that some serious issues can't be identified by an amateur, so be ready to hire a surveyor that could spot issues that appear after some time and which need to be resolved.
2. Roof life expectancy
It's quite expensive to replace the roof
, so when checking out a house, pay special attention to the condition of the roof. Depending on the materials used, the roof can last for 15-20 years. In case the roof is almost flat, inform yourself about the materials which were used for sealing it. A membrane is a better option than gravel or asphalt, so take that into consideration, too.
3. The area
The little things can make all the difference in your everyday life, so asking several questions about the neighborhood can be very important. Some of the important factors are the vicinity of public transport and the airport, the distance between you and the busy roads and the nearest dump etc. Think about what you would hate having in your neighborhood and make sure the property is in the right position.
4. Stick to your budget
If you want to buy a property that is well beyond your financial means, think again. Be aware of your financial status and how much you are able to spend and stick to that. Don't get carried away by the property that's more expensive than the final price you're ready to agree on. It will just make your life complicated and frustrate you.
5. Identify the hidden costs
The price of the property isn't the only thing you will need to spend your money on, so you should be well aware of that before you sign the papers. The process of transferring a real estate from one person to another isn't that simple. For example, browsing for a property in Australia means consulting experts in conveyancing almost every step of the way, as the documents can be confusing. Any residential property solicitor
is aware of the fees and deposits that are expected from a buyer, and they lead the buyer through the whole process of purchasing a property so that no unpleasant surprises can happen.
6. Inform yourself about the average price of properties
Just because a property looks great, it doesn't mean it's worth the price it has. Ask around about the process of properties in the same area and of those similar to it. If you discover that the price is actually pretty high, ask your agent about the reasons so that you can decide whether the property is really worth that money.
7. Know the difference between necessities and luxury
You have to make a clear difference between what is truly important when buying a property and what just looks nice and cool. Having a spa bath
may seem fantastic, but is it worth buying the property that actually has issues with the important stuff? Don't be dazzled with the glitter - the basics are what matters here.
Keep a cool head when browsing for a perfect property - there's too much money at stake for you to make rash decisions. Take your time and do your homework before signing the papers.