Key factors to consider when buying a property- By: James Hardy
When you are looking to buy a new property, there are many factors you need to take into consideration. Here are a few key areas to think about:
Location – the location of a house can be one of the most important factors when buying a property. The overall quality of the area in which a home is located is paramount when investing in a property, as it influences both current and future value prices. If an area is not well-known to you, perform a little research on-line, or ideally visit the location and drive/walk around to get a better idea.
Neighbours – often overlooked, but a very important aspect of house buying! Obviously, it’s not always possible to meet the neighbours when initially viewing a house. However, it may be an idea to schedule a second viewing at a different time, ideally in the early evening and, if possible, introduce yourself to the neighbours and ask a few questions about the area in general. Also look out for signs that may be a potential future problem with neighbours, for example; loud dogs kept outside, messy, unkempt gardens and any boundary issues such as walls and fences. If you spot any issues immediately, there is a chance they will develop into bigger ongoing problems if you actually move into the house.
Roads/Traffic – close proximity to public transport links can be very beneficial, especially if you commute to your place of work using buses/trains etc. However, you don’t want any such links to be too close! Always think about the potential noise and pollution. Good access to roads and motorways is also beneficial, but for the same reasons, you ideally don’t want anything too close to your property.
Schools – if you have children, or are planning to start a family, you need to consider the school catchment area. It is worth remembering that the quality of local state schools can have a major influence on the prices of properties. Also, a property located in a reputable school catchment area will always be easier to resell in the future.
Crime rate – you need to know how ‘safe’ an area is, before considering purchasing a property there. Before viewing a house, research the area on the internet, most local police authorities now provide on-line crime statistics for individual areas.
Obviously, these are just some of the broader areas to consider, you will no doubt have more specific requirements when buying a house, for example the number of rooms, floor space, parking options, gardens etc. It is important however to fully evaluate the general location, to avoid any potential issues. After all, many would argue that the location of a house is the most important aspect of all.
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