The questions all first-time buyers should ask at a viewing
Are you a first-time buyer eager to step into the property market? To help you make an informed decision, we've put together a list of crucial questions that every first-time buyer should ask when viewing a property
It's not uncommon for buyers to later regret not asking certain questions before sealing the deal. So, here are the questions that we believe every prospective homeowner should either ask or at least consider:
1. Why are the current owners selling the house?
Understanding the sellers' motivation can be valuable when making an offer. Are they in a hurry to move, or is this more of an exploratory listing? Knowing their situation can give you leverage, especially if you have no chain and a mortgage pre-approval in place.
2. How long has the property been on the market?
While the time a property spends on the market can vary, don't be discouraged if it has been available for a few months. If it's been listed for an extended period, you might have room to negotiate on the asking price, unless there have been recent price reductions.
3. Has there been any recent major building work?
Before conducting a comprehensive structural survey, you can inquire about any recent extensions or renovations. Additionally, you might explore the potential for future extensions, although this would typically require planning permission.
4. What's the parking situation?
If the property lacks a dedicated parking space or garage, it's essential to figure out where you can park. You can also check with the local council about obtaining a designated parking spot if necessary.
5. What are the expected bills?
Inquire about the council tax for the area, and take a look at the Energy Performance Certificate (EPC) available in the property listing to assess its energy efficiency.
6. Is the property part of a chain?
The seller's position in a property chain can influence your bargaining power. If they've already secured their next property, they might be more inclined to accept a lower offer for a swift transaction. However, if they're not yet committed to their next move, you could find yourself in a more extended chain, so be prepared to wait.
7. Are there any local issues to be aware of?
Thoroughly research the neighborhood. Visit the house, talk to potential neighbors, and, if you plan to commute, experience the area during both day and night to get a feel for it.
8. What's included in the sale?
Gather as much information as possible regarding what's included with the property. This might involve white goods such as dishwashers or washing machines. Knowing what's in the deal can streamline your move and potentially save you money if you already have these items.
9. Who are the neighbors?
Consider the neighborly environment as it can influence your daily life. Noisy neighbors or a friendly community can significantly impact your decision, depending on your preferences.
10. What is the history of repairs and maintenance for this property?
Asking about the maintenance history can provide insights into the overall condition of the house. You'll want to know if there have been any significant issues or repairs in the past. Additionally, it's a good idea to inquire about warranties or guarantees on recent improvements.
11. What's the local real estate market like in this area?
Understanding the local market conditions can help you assess whether the property's price is reasonable. You can ask the agent about recent sales in the area and how the market has been performing. This information will give you a sense of whether the property is appropriately priced.
12. What are the future development plans for the neighborhood?
Inquiring about upcoming developments, infrastructure projects, or zoning changes in the area can provide valuable insights into the neighborhood's future. This information can impact property values and your overall living experience, so it's essential to be aware of any potential changes on the horizon.
As a first-time buyer, asking these questions will help you make an informed and confident decision when purchasing your new home. Contact us if you have any further questions.
