Phil Spencer shares the reason your home isn't selling
Asking questions throughout the buying process ensures you’re making the right decision as well as provides you with all the essential information.
According to the property experts at Land of Rugs and Meble Furniture, Britons should always find out how many times a home has been sold.
1. How many times was the house sold?
The experts said: “If the house was put on sale many times within the past decade, it could indicate underlying issues that the previous owners encountered.
“These concerns might relate to factors like the house’s location, neighbourhood, or condition itself.
“Consult with your estate agent to determine the frequency of such occurrences, and if the count appears substantial, enquire the reasons behind it.”
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It is crucial to gather this information to be able to make an informed decision when buying the property.
2. Are there any ongoing issues?
Enquiring about any ongoing issues can help to prevent surprise costs when moving into a new home, especially if it has had any previous “problems”.
The experts explained: “Enquire with the agent if the property has ever been involved in any natural disaster or earthquake claims.
“If such a claim exists, request additional details to ascertain the extent of damage sustained by the property and its land, and to determine the status of any resulting issues.”
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3. Was any work done on the house?
Over time, the house may have undergone renovations or expansions to accommodate different owners’ needs.
Sometimes, these may not be accurately documented in the official records of the house, according to the experts. They noted: “This can result in actual square footage that surpasses your initial estimate, contributing to a higher asking price.
“Ask the estate agent about any changes made to the house. While they can provide a general overview of the property’s past, it’s important to verify whether that necessary work permits were obtained for any changes made.”
4. Are there any plans for the area which could affect the price?
Any plants for new developments nearby the house could influence the existing price of a property, either positively or negatively.
The property pros explained: “If the house has a rear view of fields, ask the estate agent if there are any plans to build on the land, as this can have an adverse impact on the property value.
“Similarly, if there’s a plan for a new road to be built, this means that there will be a positive impact on the value. Regardless, it’s recommended to find out about this early on.”
5. What is the neighbourhood like?
Although it’s difficult to understand what the neighbourhood is like before you move in, you should ask the estate agent questions about the local area.
If you can, it is also important to explore the neighbourhood and engage with neighbours to gather insights about the nearby amenities.
While you can change things within the house that you don’t like, this is not possible with the surrounding areas, which are “essential”.
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