Whether you’re looking to enter the property market and buy your first home, or you’re downsizing your property after your children have moved out, there are lots of questions you need to ask your estate agent before committing to a property. Below are four that should definitely be on your list.
Why is the owner selling?
One of the first questions anyone should ask their estate agent when they’re looking at a property, is why is the current owner selling? Of course, the estate agent has no obligation to answer, but they might hint at the circumstances.
It’s worth having a chat with the neighbours and local shopkeepers, to see if there are any big negative factors that you are missing out on, that others know about. It pays to know that the local train station is closing, or a sewage treatment plant is about to open, before you move in.
How long has the property been on the market?
On average, it takes between 5 and 14 weeks to find a buyer, but this depends a lot on the
Has there been any recent building work?
In order to get an insight into the property, it’s important to ask about recent building work. If work has been carried out in the last few years, ask why it was done. The previous owners could simply have wanted to add some value to their home or wanted better living conditions before selling, but it could also point to underlying problems with the property. Asking about recent work on the property will certainly give you a heads up about damage that will save you time and money in the long run, but calling out a team of roofers in Chester-le-Street is definitely the best way to confirm potential damage to your home.
What are the running costs for the property?
Before you set your heart on a home, it is important to make sure that it is financially viable for you to invest in this property. Of course you will have considered this when applying for a mortgage, but have you researched the council tax band in the area? This can take away a huge chunk of your salary each month, not to mention the costs of utilities and general running costs of the property. Be sure to find affordable providers, before you commit to buying a property.
Happy house hunting! Although this list of questions isn’t definitive, they certainly cover the basics, and asking them at any property viewing will increase your chances of noticing problems with a house, preventing you from investing money in a home that needs a lot of work.