It’s one of the most important decisions you’ll ever make and yet, after weeks of sacrificing Sunday afternoons your head is spinning and you are even more confused… House hunting can be draining, and if you make the wrong decision the consequences will follow you around for a long time yet, so we’ve put together a list of things which could help you make the right choice.
1. Take your Time and look around
The biggest mistake first time buyers make is being pressured into buying. If it isn’t right then walk away. Another option will come around soon enough.
2. Plan Ahead
Ask yourself; is this a 5 year or a 10 year plan, or is this for life? Do you need these extra bedrooms now or would a better location give you a better return. A smaller property in a better location could be the stepping stone you need to reach your dream house.
3. Lookout for cheap Renovations
Chances are that if what you are seeing looks cheap, then it probably is and if what you are seeing is cheap then what’s going on behind the scenes will probably be worse. Think plumbing, people are happy to spend money on fittings and fixtures but generally not on qualified plumbers.
4. Use the Tools at your disposal
Spreadsheets are a great way of comparing square meter rates. They don’t take get distracted by emotions or the smell of garlic or a wood burning fireplace on a cold winter evening. They might add the reality check you need.
5. Beware Estate Agents
Of course, this does not apply to all agents, and over the years we have become close friends with a number of estate agents. However; keep in mind that an estate agent’s income is based on the success of the sale and is a % of the sale price. Unfortunately, there are always those who would abuse their position.
6. The Smell of Fresh Paint
A coat of fresh paint might be used to freshen up a house or it could be used to mask damp spots. Why not ask?
7. Beware Plans for a quick or cheap Renovation.
Prospective buyers often think that fixing up a kitchen or bathroom is a quick and inexpensive exercise. This could be the case… Or it could not. It is in your best interest to consult a professional prior to making your offer.
8. Get the necessary Information
Titledeeds, surveyor general diagrams and existing plans. If you don’t have them you can’t be making an educated decision! Why not request these from your estate agent.