House buying tips for first-time buyers part 2

There are just so many things to keep in mind when buying a house. Some of them are listed below:

08:26 23 July 2013

• Survey the property. Buying a house is a major decision. Before you take out mortgage loan and before you put in the down payment, view the house that you would like to buy and take a closer look. Check it for mould, cracks, and problem leaks. Don’t be shy to open all the doors and window as well as drawers and cupboards to ensure that they all work. You can also inspect the switches, plumbing, locks, and the attic.

 

• Consider resale potential. You would want to make sure that should you need to sell the house at a later time, you will not have any problem getting an offer. If the property has been in the market for years, there could be some serious problems that drive buyers away.

 

• Is it a flood-prone property? Flood risk is being seriously considered by insurance companies when they’re calculating premiums. It also has an effect on a property’s value. Check with environment agencies and get detailed report on whether an area is at risk.