Thanks to the Internet, there’s now more information available than ever about the process of buying a home in the UK, so it doesn’t have to be shrouded in mystery. Yet inadvertently making mistakes certainly isn’t unheard of. Here, we list some of the more common pitfalls. Follow them and you could spare yourself potential stress and heartache.
1.) Being unrealistic about what you can afford
Of course, we all love scrolling property pages and fantasising about our dream home. But you also need to be realistic – and, unfortunately, dream homes are often just that. Sit down and work out which places are genuinely within your budget and which ones are out of reach. When calculating what you can afford, include Stamp Duty, legal costs and removal firms’ fees and surveys.
Check your credit score and, ideally, have a mortgage agreement in principle in place from a potential lender before you start house-hunting.
2.) Not getting to know an area
How well do you know the area in which you want to live? Get a feel for the street, neighbourhood, town or city on different days and at varying times to gain a fuller picture of the location and issues including traffic, noise and amenities such as shops.
Have a feel as well for the housing market in your target area, not least because it will be shifting all the time.
3.) Making assumptions
You might think that any flat or house which hasn’t been snapped up within weeks of being put on the market has something wrong with it, but that isn’t necessarily the case. After all, it only has to work for you and your household, no one else, so book that viewing. If the seller is becoming anxious to sell up, you could have serious leverage on price.
(In fact, it’s always worth being a smart negotiator, even if you think you’ve found your dream home. Research selling prices of similar local places before you submit an offer.)
4.) House-hunting exclusively online
Of course, the Internet has made property searches immeasurably easier over the last decade or so. But if you confine yourself to a couple of major portals, you could miss out on potential opportunities. Independent High Street estate agents have unrivalled local knowledge and could be instrumental in helping you find your perfect new pad at the right price.
5.) Searching too broad an area
Again, this is a common one. As part of house-hunting methodically, focus on a specific area and cover it in depth. You can always look elsewhere at a later stage if your chosen neighbourhood doesn’t throw up anything suitable.
6.) Focusing on the superficial during viewings
Time during property viewings is precious – make the most of them so issues don’t only become apparent later on. It’s easy to be distracted by décor and even furniture, but your list of things to check for should include:
· Walls (for damp)
· Window frames for rotten woodwork
· The roof – check from street level to assess whether any tiles are missing
· Guttering for any parts which are broken or missing
· Asking when the electrics were last checked – likewise, notice if electrical sockets are limited
· Below-par plumbing
· Poor soundproofing
· Insufficient storage space
It’s especially important to be thorough on a second viewing – you may identify something that a professional surveyor needs to investigate.
7.) Settling in frustration
Finally, house-hunting can be tiring and time-consuming. Clearly, it’s also about entering a long-term commitment. So don’t settle for a place which ultimately isn’t suitable for you and then come to regret it.
If you feel your search is going nowhere, consider taking a break and then going back to it. After all, new places are coming on to the market all the time.
Talk to Carter & May
Carter & May is the leading estate agent for Salisbury and the surrounding areas for sales, rentals, lettings and buying. Benefit from our in-depth local knowledge (we all live nearby) and 150 years’ combined experience as we take you through your property transaction from start to finish.
Start making your next move today – get in touch