When attending an open home, it’s much easier than you’d expect to get caught up in all of the excitement. Buying a new house is one of the most exhilarating and stressful periods of your life, but you shouldn’t let that affect your decisions.
Despite the emotions that you’ll be experiencing, it’s key for you to maintain a level head and approach each decision logically. In this article, we’re going to take you through the 4 key points that you need to consider when attending an open home.
1) Know the neighbourhood
When you buy a home, you’re not just purchasing bricks and mortar – you’re also buying into the way of life of the local neighbourhood.
When on the hunt for your next property, you should also pay careful attention to the surrounding area. After all, it’s always said that you’re better off buying the worst house in the best area than the best house in the worst area. Bear this in mind whilst you scratch up on the local amenities and general neighbourhood feel.
2) Research is key
Whilst looking around the local area, you should also take note of any other property sales similar to the one you’re interested. By looking at these and comparing them to your target property, you’ll be able to get a good idea of the property’s true market value.
When a little bit of extra research could knock a significant chunk off of the asking price, it’s well worth your time.
3) Take note of any deal-breakers
For anyone attending an open house, there should be a list of key features that they’re interested in. Conversely, there should also be a list of deal-breakers that mean the property is a no-go for you.
As you walk around the property, you should pay particular attention to:
- Any sagging ceilings and walls
- Mould on walls, skirting boards and ceilings
- Faulty sinks and toilets
- Cracks in the property’s exterior
- Bubbling or peeling paint
All of these, if left unnoticed, can translate into costly repair bills.
4) Don’t be afraid to ask questions
If you don’t ask, you won’t know. If you have a question about the property, feel free to ask the owner or agent for clarification. At the end of the day, they’re both there with full intentions of selling the property, so they’ll be more than happy to help you with any queries you may have.
In case you think of extra questions once you’ve left, be sure to get the agent’s card so you can get in contact with them at a later date.
The information and links provided on this website are for general information only and should not be taken as constituting professional advice. This information does not take into account the financial situation or particular needs of individual readers. Before making any decisions about matters discussed on this website, you should consider whether it is suitable for you in light of your own circumstances, and seek appropriate advice.