Looking for somewhere to live can be really exciting. However, you need to think long and hard before putting in an offer for a house – even if you love it! You need to make sure you’re satisfied with the answers to these questions, or you shouldn’t be putting in an offer. Take a look:
Is This Property Worth the Asking Price?
Is this property worth the asking price or are you being ripped off? There are a few different ways you can work out whether the property is worth it. You can research similar properties, and look at what it’s sold for in the past. You can also look at other houses in the area and see what they are going for, as the price likely won’t be too different.
What’s Wrong With this House?
Make a mental note or even a physical note of the things that are wrong with this house. You’ll be responsible for fixing them at some point, so make sure you’re prepared to do what it takes to take care of maintenance. If you go and visit Spencers or a similar estate agents, you should be able to get a check on the house you’re thinking of buying to give you an accurate idea.
Is the Seller Flexible?
If the seller is flexible, that’s much better for you. If they will move on the price slightly, you’ll get a better deal. You’ll need to ask the estate agent and see if they come back with a counter offer to yours, or if they won’t budge. You don’t want to put in a ridiculously low offer, as this can be insulting more than anything. Be prepared to put in a sensible offer and wait for them to come back.
Is This Home Likely to Flood?
This isn’t a question many potential buyers ask themselves, but it’s important. If the house is on a floodplain, there’s every chance it could become damaged. Make sure you know how you’ll deal with this if it ever happens. You can’t always predict or stop a flood, so insurance is a must.
Are the Appliances Old or New?
New appliances will be more energy efficient and save you money on bills. The older the appliances, the sooner you’ll need to spend money to replace them.
Is There Potential for an Extension?
You might picture yourself moving in a few years anyway. You might not. If not, there’s every chance you might want an extension. You can add more floor space this way and even an entire room. You’ll need to make sure you get planning permission and all of the proper documents, but if a house has potential for an extension, it’s a good buy. If not, you may have to move out later on whether you like it or not.
Ask yourself these questions and you’ll know whether you should put in an offer on this house or not. There’s no rush. Find the perfect house before you commit to anything!