The Things You Won’t Have Thought Of When Buying A Property But Should
Buying a property is exciting. It doesn’t matter if it is your first or twenty-first, it is an investment and one to be proud of that you are making. However, while you may be focused on your “must-have” list such as how many bedrooms or if there is open plan living, there are a few things that you can forget to consider. Questions you haven’t asked or thought about. With that in mind, here are some of the things you might not have thought about when buying a property but should.
Has there or will there be investment in the area?
One of the first things to think about would be the local area and whether there has been or will be any investment in it. This might be new houses or apartments, where investors like Paul Ognibene could be applying to build. Or maybe it could be investments in shops or retail outlets. This creates jobs as well as boosts the economy. It might be work on the road infrastructure or repairing older buildings so they have use again. The investment could boost the value of your property in the future.
Does the garden get sun?
Another thing to think about would be the summer days and if your garden gets sun. This may not even cross your mind, especially if you are buying in the winter and don’t see the location of the sun versus your garden or outside space. However, getting sun on your garden is important for those long-awaited summer days and can be a huge and appealing quality of your property. So it is definitely something to ask or work out for yourself to see if and when the sun hits your outside space.
Is there scope for adding value?
There is no doubt about it but property will always be a good investment for your money and the value of the property can increase over the years. But a question to ask yourself is whether there is any scope to add value yourself, rather than just relying on the market and inflation in living costs. You could look at whether you can extend and increase the square footage. Add living space or bedrooms. Or perhaps looking at whether you could install a new kitchen or bathroom. There are bound to be areas where you can make a difference and by doing so increasing the value. This could be an incentive to buy a property you may not have considered before, just because of the potential of selling in the future.
What is the history?
Finally, have you ever thought to ask about the history of the property? It might be worth understanding why the house is selling, whether there is any history that you need to know about such as incidents taking place there. The more you know about the property, the better idea you will have for it.
Let’s hope this helps you to have a better understanding of your next property purchase.