What
to be aware of with a new property purchase
Buyer
beware apart from the mortgage valuation
So
now your are about to buy a new property loan, your first
home and get on the property ladder here listed are a
few tips to be mindful of to potentially avoid future
problems and to purchase a home that has better potential.
This
is a massive descision that will have a large impact on
your life so doing some research and taking due diligence
should pay valuable dividend. It is very expensive and
troublesome to move so making the right choice is important
When
you look at the property try and make several visits to
the road and area on different days and at times, this
will give you more of a feel for the surrounding location
you are potentially interested in buying. Look out for
traffic levels, parking, noise, street clutter and troublesome
neighbours. If possible maybe talk to few residents if
you get opportunity and enquire what the neighbourhood
is like.
Enquire
if there has been any subsidence in the local area for
example if the region is build on a mainly clay soil.
This can potentially have movement issues in long dry
periods of weather, the summer of 1976 created a large
number of subsidence claims. This can cause higher insurance
costs and effect future selling.
Property
Inspections
A
valuation and HIP report will not
give you every problem to be aware of. Does the property
have tall trees or bushes that are placed in close proximately
to the property. Does the roof look old. Does the roof
sit square or are there bows and dips on it. Do drains
run near the property that are near shrubs. Are there
cracks in the walls especially in the top and bottom corners
and run a fair length. Do internal doors and external
windows open and shut true. Are there any damp patches
throughout. Do the roof timbers seam clear of damp or
rot. Are the electrics new and not a group of add on boxes
at the fuse board. Does the boiler and heaters look in
good conation.
It
may be wise if you have a friend who is a builder to take
him in for an informal inspection. Careful home inspections
can pay off.
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