The underlying feeling amongst experts in the property market is that we are past the most painful juncture in terms of prices and increasing rates. With this will likely come a lot of competition in the realm of HomeBuying and Selling, meaning every viewing counts and it’s important to make the most of every visit you have to a potential new home. Here are 10 essential questions to ask when viewing a house:
1. How long has the property been on the market?
Understanding the duration a property has been listed can provide insights into its desirability and potential issues. If it has been on the market for an extended period, inquire about the reasons and any known problems.
2. Has there been much interest in the property?
Knowing the level of interest in a property can help gauge its popularity and competitiveness. Ask about the number of viewings and if there have been any offers, providing a sense of the property’s market demand.
3. What’s the area like?
Researching the neighbourhood is crucial. Inquire about schools, crime rates, and the overall atmosphere. An insightful question to ask the estate agent is whether they would be happy living in the area, adding a personal touch to their assessment.
4. How long have the owners lived there?
Understanding the duration of the current owners’ stay can reveal potential issues or concerns. A sudden move may indicate problems, and sellers are obligated to disclose any disputes with neighbours, ensuring transparency.
5. Has there been any major renovations done recently?
Discovering recent renovations is essential for assessing the property’s condition. Ask for evidence, such as receipts or guarantees, and check for proper planning permission. Hidden issues like damp or structural problems can be unveiled with this question.
6. Why is the owner selling?
Understanding the seller’s motivation can provide valuable insights. It’s essential to know if there are any urgent reasons for selling, as this information may influence your negotiation strategy. For instance, a seller relocating overseas might be more inclined to accept a lower price for a quick sale.
7. What is the minimum price the seller will accept?
While it may seem straightforward, explicitly asking about the seller’s bottom line can save time and streamline negotiations. Estate agents may provide an indication, as securing a sale, even at a slightly lower price, benefits them.
8. Have the sellers found a new home?
Understanding whether the sellers have already found another home is crucial for gauging their urgency to sell. This information helps assess the potential impact on the buying process, particularly if you prefer a quick and uncomplicated transaction.
9. Have the sellers had any offers?
While estate agents may not disclose specific offer amounts, they might provide hints or indications of other offers. Knowing this information can aid in formulating a competitive offer and negotiating effectively.
10. Have any of the rooms been redecorated recently? If so, why?
Inquire about recent room redecorations and the reasons behind them. This question can help unveil potential issues, especially if the repainting was done to conceal damp or structural problems.
There is much more to ask the agent when at the viewing for your dream home based on your individual circumstances. However, we hope that these initial questions push you in the right direction to make the most informed decision on the property ladder in 2024. Estate agents and viewings can be arranged through OneDome’s HomeBuyer Service, the first end-to-end online property platform. Click here to get started.