10 things to consider when buying a house

A property is arguably the biggest investment you will make throughout your lifetime – so it’s natural to feel nervous and gather plenty of information and knowledge as you start your search and eventually make an offer. At Johnsons we know how complicated (and stressful!) buying a house can be. Here we’ve compiled our list of key aspects of the moving process that are often overlooked, adding to the anxiety homebuyers can feel. Read on to find out how you can avoid common pitfalls and prepare with confidence for your upcoming relocation.

Choose a trusted estate agent

A good estate agent can make or break the property buying process. If they are unscrupulous or slapdash they could complicate the sale or cause it to fall through completely. On the other hand, excellent estate agents can negotiate a better deal, avoid legal loopholes and streamline or accelerate the process. For this reason it’s a good idea to ask for direct testimonials and personal recommendations before you engage with an agency.

Don’t forget about your finances

Do you have a mortgage lined up, or is this something you’ll need to arrange once you find your perfect property? The size and type of mortgage you’ll be able to apply for will naturally influence your budget – so it’s best to look into that before you browse.

Negotiate

When you purchase a property there will be lots of forms to fill out and contracts to sign. Whilst on the surface these may appear to be routine documents, they are in fact designed to negotiate a better deal for either party. Properly reading documents you are presented with and thoroughly understanding them could help you to save money.

Consider the future as well as your present circumstances

Shop for the property you might want or need both now and in the future. This isn’t a process you can repeat again and again – you need to be sure that the place you purchase fits your requirements in a comprehensive way.

Look beyond the façade

When viewing a house, try to take it into consideration without letting minor, resolvable issues cloud your judgement. You may pass up on the perfect home – just because it is in need of a little modernisation, or perhaps looks a little tired and dull. Imagine yourself living there. See the property’s potential once you have had chance to make your mark on it. That dark wall can be painted – the cooker can be replaced. Sometimes larger issues can sometimes enable you to knock the seller down on price a little.

Make room for improvements

As detailed above, minor improvements should be overlooked if everything else about the property excites you – but leaving a little room for improvement can also be a savvy financial move. If the property is on the market at a lower price to reflect renovation or refurbishment needed, you could add significantly more value in a cost-effective way by undertaking the work yourself. This is especially important for buyers looking for investment properties – or families who know they may need to upscale again in a few years’ time.

Speculate to appreciate

When choosing your ‘ideal location’, it’s worth taking a look at professional property forecasts for each area. The UK is filled with up-and-coming towns and villages with promising house prices – prices that are set to rise as the local area is developed and becomes known as a property hot spot. This is a good tactic for those planning on staying around for a while – five to ten years at least. Take for example Chorlton in Greater Manchester and Waltham Forest in London – where the average house price has risen ten times in ten years.

Widen your search

Once you’ve pinned down the perfect location, try not to be too rigid and consider surrounding areas, too. They may be more viable financially or offer better connections or other benefits such as a simpler commute or close proximity to a good school.

Remember that estate agents are working for the seller’s behalf

Estate agents are unfortunately not on your side – however much they wax lyrical about finding your ‘perfect property’. Their main goal is to get the highest price possible for the property they are presenting on behalf of their client – the seller. Therefore it’s prudent to negotiate and be aware of tricks and ‘finders fees’, which estate agents can apply for from buyers who make unsuccessful bids.

How will your furniture and belongings fit?

It can be difficult to visualise where your own furniture and belongings will fit into a property when it is already filled with someone else’s. From a practical perspective it’s important to try to envisage where your things will fit – especially larger items like sofas and beds. You may find that you’ll need to purchase new ones or store old ones if they don’t fit or don’t look right in a space.

Are you organising a move imminently and need expert assistance to relocate your furniture and belongings? Get in touch today – or request a removal or storage quote in minutes online.