Questions to ask when buying a House

When looking to buy a Devon property there are a few questions you should always keep in mind to make sure you end up buying the house of your dreams, rather than a home from hell.

When speaking to the seller, either directly or via a Devon estate agents there are a few questions you might need to ask:

  • What exactly does the sale include – garage, size of land, fixtures and fittings etc
  • How much is the current council tax bill and utility bills
  • What are the neighbours like
  • Has the loft been insulated
  • Have there been any problems with the boiler and when was the last time it was inspected
  • Does the property have cavity wall insulation
  • Does the property have central heating, and if so how old is it?
  • Is the property a listed building or is it in a conservation area
  • Has the property been altered in anyway, and if so is it possible to see the relevant planning documents

When viewing the property there are some questions that you should be asking yourself.

  • Does the property need any updating?
  • What are the views like?
  • Do the windows need updating, if it’s a wooden frame and you can press your fingers into them they could well be rotten
  • Is there enough storage space?
  • Are there enough power points?
  • Are there any cracks in the walls that could be a sign of subsidence?
  • Can you see any signs of damp?
  • Is the pointing on the walls still intact?

If you find yourself struggling to answer any of these questions you might want to take a professional around so that they can point out any potentially problematic faults.

The biggest question you will have to ask though is one that only you can answer, does this feel like your home?

Save money and buy a distressed property

With the current financial climate the amount of repossessions is on the increase, figures show that house repossessions are at a 14 year high. Many people who are close to having their property repossessed are trying to sell their house as quickly as possible which in turn gives first time buyers a chance to pick up bargains by buying what the industry has named ‘Distressed property’.

What are the advantages of buying a distressed property?

One of the main advantages of buying a distressed house is the price; distressed sellers are looking for Quick Property Sale and to claim back the best Cash for Property they are selling.

Distressed properties can sometimes give buyers a price reduction of up to 30% of the properties recommended listing price. Another advantage to buying a distressed property is the fact that no chain is involved so the buying process is much easier and faster for the parties involved.

What are the disadvantages of buying a distressed property?
There are not many disadvantages to buying a distressed house; the only factor that can differ between distressed and normal house sales is the house condition.  Many houses are refurbished and renovated before they are sold to increase the value returned, with distressed houses they are sometimes in poor condition due to the owner’s financial situation. In some cases the previous tenants may have removed as much as humanly possible from the house to recoup as much money as possible to repay their debts, so houses in this condition will cost more to refurbish and make habitable again.