Found A Property? – Don’t buy a lemon!

Once you have found a property it is important that you remain objective and that your heart does not rule your head. Very often because the property is in the right location is the right size and is at the right price prospective purchasers stop investigating further. Very often for fear that they may find a problem that will prevent the purchase. This sentiment is of course misplaced if there is something wrong that will affect the property value in the future.

In order to be completely objective it is important to visit the property as many times as possible and at different times. Visit at night – is the area peaceful or is the road a thoroughfare, visit during rush hour – how busy is the road and visit during the day – is the road used for station parking etc. All these things could affect your enjoyment of the property and in some extreme cases make you wish you had never bought it at all. Don’t worry about annoying the Vendor, if the property is good value without any hidden problems the Vendor will be happy to accommodate you.

When you look round the property eliminate any surprises when you move in by making a list of the things that are important to you. This list will probably include the following;

1. What’s the general condition of the property – Will you have to re-decorate, and can you afford to take any remedial work?

1. What fixtures and fittings will be left – These will be stated in the legal papers but ask the question so as to avoid doubt as after you get the keys its too late to complain!

1. Is the layout of the house ok – Odd shaped rooms may present you with challenges when you move in and cost you a fortune in replacement furniture.

1. Check for power points – moving or adding power points costs a fortune to install or move.

1. Is the roof insulated – Don’t be afraid to go up in the loft and have a poke around, an unlagged loft space can cost you a fortune in lost energy and damage the environment with wasted energy. Green properties get better energy ratings!

1. Are the walls insulated? – poorly insulated walls will cost money to fix and will result in higher fuel bills. Green properties get better energy ratings!

1. Is there central heating – If so is it gas/electric and most importantly, is it efficient? Ask to see a winter fuel bill if you are at all concerned about the property. This is more relevant the older the property is and don’t forget - Green properties get better energy ratings!

1. Ask about the plumbing – How old is the plumbing, is the boiler lagged, will it need to be replaced soon?

1. look for large or recent cracks on ceilings and walls and badly hung doors – These could indicate structural problems.

1. Be aware of damp – You will be able to smell damp in a room and in most cases see it. Be warned new paintwork might be hiding a multitude of problems.

1. Is the property well ventilated – You can tell whether a property has condensation problems by looking at the window frames. If the paintwork is damaged or flakey its likely that it has been affected by water.

1. Have a good look at the outside of the property too – Are there missing tiles on the roof, trees close to the property, any signs of damp. All these factors could mean serious problems affecting the property today.

1. And finally, can you really afford it? Make sure you gather as much information as you can. Do your sums and allow for the unexpected. For lots of impartial information, property and mortgage tools, and useful help advice and information you may wish to consider taking a close look at the UK mortgage and property portal www.obligo.co.uk.

You will of course receive a Home Information Pack (HIP report) and eventually a valuation of the property. However, it is vital that you spend time investigating the property personally to ensure that you are happy.

Your own information alongside that of the professionals should ensure that you are well informed when you make your final offer and go on to purchase.

Obligo limited Publishing Guidelines

Permission is granted to publish all or part this article electronically in free-only publications, like websites or e-zines, commercial or non-commercial (print requires a permission) as long as the resourse box is included without any modification. All links must be active. A courtesy copy is requested on publication to chris.gardner@obligo.co.uk.

Article Title: Found A Property? – Don’t buy a lemon!

Authors URL :obligo.co.uk

Author Name : Chris Gardner

Contact email: Chris.gardner@obligo.co.uk

Author Blog: http://www.obligo.co.uk/blog.html