An Investment in Property means creating a financial asset. For most of us, the most consequential and valuable investment is buying a house. So, it is a given, that the buyer will ensure that the property he is investing in is at a fair price. Our estate agents in Sevenoaks can evaluate the value of any property and guide you with their expertise in the state market.
What should you know before buying a property?
We have created a checklist to ensure that you do not miss any essential factors for evaluating a property before you invest.
The condensation of moisture on the walls, indicating poor ventilation of the structure, is Damp. It can lead to consequential damage to the building and fixing a damp is quite expensive. Damps can cause grave health concerns like respiratory problems allergies, fungal decay, and woodworms. Damps can be spotted from patches on the walls, peeling wallpapers, soiled plaster and moulds, musty smell and water coming from windows.
Always checks the insulation of the plumbing pipes and check whether they are lead or not. Don’t hesitate to flush the toilets and turn on the taps to see the water pressure and the working condition of radiators and boilers how long they take to heat up and how old they are. Check the pipes under the sink for dryness.
The most vital factor in the checklist. Start with checking all the switches, plugs and sockets by clicking them off and on, and the working condition of the oven, stove and refrigerator. Your house survey will not include electricals, so it is beneficial to get an Electrical Installation Condition Report to ensure that the property is safe. This report can save you a lot of money and headache.
Replace any missing tiles or repair the leaky gutters, inquire about the age of the roof, as replacing a whole roof with a new one is an expensive affair. A cracked roof or water standing on it is a warning sign of a defective roof.
Ask the owners to provide you with Gas Safety Certificate on all the appliances and devices. Do not make blind assumptions about the safety of the appliance present on the property. Any leakage can lead to gas poisoning, fires or even explosions.
Always calculate the cost of living around the property. What are the Council tax bands, and how much do the water, gas and electricity amount to? How much are the TV and broadband going to cost etc?
How big is the garden, if any? Does it need any work or trimming? Will it demand high maintenance? Ask these questions, to assess future costs. Having a garden is always a bonus as it adds to the resale value of the house.
Structure and Condition
Assess the sturdiness of the structure and its overall health. Get a survey done, it the building falls under the category of Non-standard property, it will cause a lot of obstruction in mortgages, insurance and resale of the house. A non-standard property is made by using old and outdated materials which are designated defective under the legislation.
Size of the Rooms
Assess the sizes of the rooms in the building, can all your furniture and belongings fit in the rooms?
The location of the house is always the primary aspect of any property search. What is the accessibility of transport links, are there good standard schools, green spaces and entertainment areas nearby? What is the crime level in the locale, are there any potential development projects in the funnel? How are the neighbours? Get your answers.
Check the property for the functioning of the drains, whether are they quickly draining and are approachable. Check if the property is susceptible to flooding. Check for any residual blockage around the drains.
Get smart and follow the processes and you will reach your desired property with very few hiccups on the way. Although, don’t forget the most important thing, your gut feeling.
Can you imagine yourself in that space, are you ready to put in all the work that is needed, and lastly can you see yourself calling the structure your Home? If yes, then you have found your ideal property!