Are you buying in the right location?

If you have a job that is likely to be in the same area, it makes sense to try and get a house in the right area.

What are your priorities

  • Commuting to work. Depending on the traffic in the morning you may spend up to one hour in frustrating traffic. It might be worthwhile looking at traffic patterns to see where the best place is.
  • Right neighbors. You have to put up with neighbors if they turn out to be “neighbors from hell”. A house might be slightly under priced because the owner wants to leave of r this reason.
  • Good schools This may or may not be important, but catchment areas of good schools tend to be slightly higher in price
  • Transport links – Are you going to drive or catch a train. Are you happy to cycle to work?
  • Pollution and noise Is the house just off a busy road. The pollution may be considerable. This is particularly if it is close to a traffic light junction, where cars will stop with engines on.
  • Disturbance Any pubs or booze shops nearby? You might find that there might be booze bottles thrown into your front garden

 

Questions to ask the estate agent

  1. Any offers on the property
  2. Any sales that have fallen through and if so what is the reason? Is it a defect on the house that stopped the sale
  3. Is it leasehold or freehold
  4. If leasehold What is the ground rent and has this been increased recently?
  5. What is the remaining lease on the property More than 100 years lease is good
  6. What is the status of the current owners. Do they want a quick sale?
  7. Any reason why the current owners may need to not proceed ( ie do they have another place to go to?) Is there a chain involved.. If so how long is the chain?

Negotiating the purchase. If you are a first time buyer, you have a good hand. You may be able to knock off 5% of the price or more.

Questions to ask through solicitor

  1. Any Trouble with your neighbors or police called out to to the best of your knowledge
  2. Any flooding or insurance claims
  3. Any disputes ongoing or past with anyone nearby
  4. Any covenants on the property
  5. Any improvements or changes and if so are the papers available FENSA, NHBC any guarantees
  6. You can negotiate for the current owner to leave behind some items of furniture/ washing machine etc.
  7. Any subsidence, cracks  or structural repairs to the property
  8. Any Building plans turned down by council

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