Key Questions For First Time Buyers

Whilst it is highly competitive for first time buyers in the current market we have compiled a list of the essential questions every first-time buyer should ask when viewing a property.

Why are the current owners selling?

This information will help when it comes to putting in an offer. It’s good to find out if they are very motivated sellers who may need to move quickly, or if they’ve just put their home on the market to see what kind of interest it gets. If they’re looking for a quick sale there could be an opportunity to offer a lower price, especially if you’re in a good position with no chain and a mortgage in principle already sorted.

How long is the property on the market?

The time it takes to sell a property varies depending on local market demand, the price, and type of property, so it shouldn’t put you off if it’s been on for a few months. If it has been listed for more than 6 months there could be an opportunity to negotiate on the asking price, unless it’s already been reduced recently.

Has any major building work been carried out recently?

It’s recommended that you have a full structural survey on a property you’d like to buy, but you can ask some questions before then as well. You could ask on the viewing if the house has been extended and how long ago that was.

Is parking available?

If the property doesn’t come with a garage or parking space, you’ll have to work out where you can park. Do you need a disabled parking spot on a main road, for instance? Don’t be afraid to contact the local council to find out how you can get a designated space.

What are the average bills?

Have a look at the BER and ask your agent if there are any energy saving features to see how energy efficient the house is.

Is the property part of a chain?

This may give you a little bargaining power. If a seller has already found their next property, they may be willing to accept a lower offer to ensure that a move happens quickly. However, if they haven’t, you might become part of a longer chain, so you need to think about how long you’re willing to wait.

What is the local area like?

Do your research. Visit the house and ask neighbours what they think of the area. Also, if you’re new to the area and will be commuting by train or bus, try and visit the area both during the day and also at night.

What’s included in the sale?

Get as much information as you can here. For example, will any white goods, such as a dishwasher or washing machine, be included in the price? Having these essentials already in the house will make the move feel a lot smoother as you spend the following days and weeks unpacking. If you already have your own white goods you may even be able to make some money by selling what’s been left behind.

Who are the neighbours?

You might not be told about noisy neighbours but on the other hand a community with really friendly neighbours may make up for any negatives a property has.

If you have an queries about buying, selling or renting a property do give me a call on 087 2500716.

Michelle