Question 2
What should I look out for and what information should I try and find out when looking at property?
Apart from trying to get on with the seller, it is important to build up a picture of the house both inside and out. Most people tend to concentrate on the layout of the house, the decor and so on. However, there are a number of important and particularly costly areas that should be considered. These include whether the house has been re-wired, have there been any major repair works carried out, structural or otherwise? Can your surveyor get into to the roof space and under-floor areas? How old is the central heating? Has it been regularly serviced?
On the outside it is important to check the neighbouring properties. Are they of similar value or are there mixed uses? For instance are there shop/industrial properties close at hand? Likewise if there is an open area nearby it is important to find out whether there are any plans to develop this and in particular is there green belt zoning. The direction the property faces is also important, that is, if it is south facing which rooms will get the sun and which rooms will not.
It can also be useful information to know whether there have been any disputes with neighbours, particularly over boundary walls, fences, mutual accesses and so on. Have any neighbours got planning permission to change or make their property bigger? This could have a material affect on the view or light for the property you are interested in.
So far as the seller is concerned, it is also important to find out why they are moving. Have they bought any other property and, if so, what date of entry do they have? It is also useful to know how long the seller has been advertising and whether any other surveys have been carried out.
Finally, it is important to be aware that the area in which the property is located will have a large effect on its value. A property which in need of modernisation, that is one that needs a new kitchen, bathroom, re-wiring and so on, may still be worth buying for a top price if it is in a good area. This may make it a better investment for the future. A property that is in good condition but in a mixed area may not make such a good long-term investment.
