Buying property can be a somewhat stressful experience – but not if you are adequately prepared. As with most things in life, success in the property market often comes down to doing your research.
One of the best times to ask questions is when you go to a home open. To save you some of the hard work, we have come up with five essential questions you should ask the seller at your next home open – you might want to print this checklist out and take it with you.
It’s very important to gauge an idea of the value of a property. That way you can see whether it’s within your budget and if it’s a fair deal. Knowing the value from the beginning can help you plan for the auction or prepare a successful offer.
That said, don’t take what the agent tells you as gospel – values can fluctuate over time and may change depending on the property market. Keep your wits about you!
Have a look around the home and get a feel for its condition. Is it in good nick or will it need renovations? If you’re serious about the property you may want to get it inspected by an independent professional. They will be able to provide you with an impartial viewpoint.
So the house itself ticks all the right boxes, but what about the neighbours? See if the agent knows anything about the local community, or even better, pop around and introduce yourself. There’s no harm in saying hello and they may be able to shed some light on the local property market.
The home open is a great time to ask about nearby amenities, such as the closest supermarket or doctor’s surgery. You may also want to see what the agent knows about schools in the area.
Finally, it’s good to know what sort of competition you’re up against. If the property is in high demand you may need to put in a larger offer to increase your chances of success. On the other hand, if it’s in low demand, you may be able to put in less.
Knowing how much interest there has been from other buyers will put you in a good position to make the best offer you can.
If you are thinking about buying, why not contact our agents for further hints and tips? Contact our office today on 9275 7777. Alternatively, our weekly property guide is posted online every Friday.