How to Make Sure you buy a Property for the Right Price

Image courtesy of Violette79
Image courtesy of Violette79

Whether you are buying a home to live in or one to rent out, you want to make sure that you are not paying too much money for it. You want to make sure that you are getting the best value for money and that the property you see is actually what you are getting. There may be things wrong with it that you cannot easily spot and so you need to be aware of what to look out for.

Get a survey
If you are buying a home with a mortgage then the lender ill want a survey to check that the house is worth what you are paying for it. However, it is possible to pay for a more in depth survey and it is worth investigating this. They will cost quite a bit of money but if it picks up something that could negatively affect the property then it will be worth it as you will not waste your money buying it.

Learn about neighbourhood
It is worth finding out a bit about the neighbourhood before you buy the house. You can tell a lot by looking around when you visit. However, it is wise to visit at different times of the day such as evenings and weekends as well as during the day on a weekday to see what sort of people are around, how busy it is, what the traffic is like and things like that. Also try asking people about it to see what they think.

Check for signs of damp, cracks and other damage
It is important to check the house over for signs of general disrepair. Damp can be a huge problem in some houses. Once you have it, it can be difficult to get rid of it. Look for signs of wet walls, mould or freshly painted areas near to ceilings or on outside walls which could be where damp is being covered up. Do the same sort of hunting for cracks and other signs of damage which could lead to problems in the future.

Check sale prices of local houses
It is worth checking what other local homes have sold for to see whether the house you are thinking of buying is very different. If the price is not similar then you will want to find out. If it is a lot dearer then it could be overpriced. If it is cheaper then you will want to know whether this is because there is a problem with it.

Consider local services
It is worth considering what local services and facilities there are. Think about the local schools, for example and whether they are popular or not. Also consider closeness to shops and supermarkets as well as other big town and attractions. These will have an influence of what the house is worth to other people.

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Rachel Henderson is a professional freelance writer from the UK. She writes on many subjects but specialises in personal finance. As well as contributing to various blogs and websites she has her own website tracking her own money making process http://www.turnonepoundintoonemillion.com and sells her books through http://www.bowbridgepublishing.com.

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