t20-win

Real Estate · December 23, 2019

These 6 mistakes are made by the buyers at the time of buying a new house

It’s so much exciting when you search for a new property. A new home, some new people and a completely new environment. Buying a home is not that easy task. You go through many changes while searching for a new property, some are connected with emotional changes, whereas some are connected with security changes.

While buying a property, we all tend to make a list of many things like the ease of daily commute and where you children go to school and much more. Hence, there’s a stack of responsibility to be taken while going for a property.

In order to help you out in making the correct decision, this post has come up with some vital points to be noted while buying a new property. This will help you in making a proper list so that you won’t regret later. Once you have a complete list, you can contact estate agent mayfair london to go with the further discussion.

We will be talking about the mistakes you need to avoid while buying a new property:

Think for long term

Everyone does have the emotional connect with their property that can not be denied in any way. When we buy a new property, we go through many emotional changes and thus forgets about a lot of things that needed to be kept in mind. Nowadays, the staying period at one home for 30 years has gone. We have become very uncertain regarding our life and job. There might be a situation when you need to change your property for your job purpose and to accommodate a growing family.

Before buying a new property, make sure that there aren’t any big building projects planned in the area that might affect house prices. You also need to worry about the fact which could put future home buyers off. For example- is it close to a main road or industrial premises! Are there plenty of years left on the lease!

Arranging your budget

Before heading to buy a new property, you need to make sure that you have a complete list of all the expenses and financial status. Take a note of all the possible costs and additional fees. Stick to that budget. Don’t be allured with the spacious looking houses. They might tempt you for the time being but later on, if you fail in your budget role, it may lead to many problems.

There are a lot of buyers who only focuses on the mortgage getting approved. They often neglect other financial commitments. Make sure you factor in stamp duty, service charges, council tax and bills.  Such details can be explained by the estate agent mayfair london at the time when you seek for a new home.

Make a list of how much money is required for the immediate repairs or renovations but also you will still have some spare cash for the unexpected incidents. If you get to see that the problem is only from the outset, you may be able to negotiate with the vendor for a better deal.

 Deciding before regarding the essential renovations

If you want some extra features in your property, you need to thoroughly research on it before you go on to purchase any new house. Have a look if your dream land is possible in the type of home you are choosing right now. Planning restriction is really important factor when you do property hunting. So, if you want to add an extension, garden room or other major remodelling, go through every point and remodelling opportunities so that you don’t have to regret in future. And moreover, what could be more depressing to know that you can no longer build your dream home as you haven’t had the proper research.

Potential trouble spots

One of the most vital things that could be neglected by the would be homeowners is that they miss out the potential trouble spots because of their excitement.   Don’t neglect these signs of damp, missing roof tiles or faulty guttering. Such damages could make your life havoc.

Make a thorough research on when the house was last rewired, and the boiler fitted and serviced. You have the full right to request for the documents in order to be extra sure. Ask if the vendors have the correct certificates if gas and electrical work was completed on the property.

Try to find out what you can do with any previous construction or renovations that took place. A serious issue might encounter if there’s an incomplete task in the house. Be extra sure about any work done on the house passed the necessary building control inspections and that the paperwork is all up to date.

Knowing about your neighbours

When you shift to a new place, your first priority becomes the people around you or the complete atmosphere. Make a list of these important facts in your locality- crime rates, schools, commute times, transport links, shops and leisure facilities. These facts are again overlooked by the buyers when they become too excited to buy a property.

Make sure you visit the place several times to get an enhanced sight into the entire place and areas. If you find a noisy neighbour, ask the other people who know about their being noisy. This actually takes time hence you need to spend some time in the locality to know about all these insights.

Always think about the future

When you sit with the list, always have a look at the facts that will support your needs with the changing aspect of your life over the next five years. Suppose, you have the planning to move with your girlfriend. So you have no kids now but when you will have, you need to focus on such points as well. Your wishes will change after 4-5 years. Next time you contact estate agent mayfair london you must have all these lists with you and then proceed to further decisions.