Buying a property in London can be an exciting time, arguably even for a first-time buyer. Saving for a first deposit can be a great accomplishment to your goal and then it feels great to use that money to buy your first home. For all the excitement, however, some potential buyers forget to do important verifications and face costly problems to resolve after their purchase is complete.
Here are 6 important things to check when buying a home in London
Check your control band
By negotiating your mortgage with your lender, you will have an approximate idea of your monthly expenses. However, it is always important to check your tax band before you start paying bills. Some people have made the mistake of simply assuming this is open-minded and exposed themselves to a nasty surprise when the bill comes in. Be sure you know.
Schedule a wet inspection
Some vendors may try to mask moisture by placing furniture in front of damp spots or even repainting a wall. However, moisture can cause significant structural damage if left untreated. Before you agree on the purchase price of your property, arrange for a wet inspection of your London property. These moisture inspections are usually very cheap and can give you a good idea of the level of moisture and the reasonable cost to repair and restore it.
Make sure you collect all warranty documents
If the property you are about to buy has new windows, a new front door or a new boiler, you should be presented with a warranty certificate from your seller. If not, this is an important thing to pursue. For example, a ten-year guarantee applies to new windows. So if you run into problems, you are covered. Without these documents, you may have to pay the bill for a repair that may already be covered.
Arrange for drainage tests
Many problems with drainage systems are generally undetectable, so it is imperative to have a specialist carry out them CCTV drainage surveys in London. A drain survey can tell you about current or potential problems with your drains. If repairs are needed, you may want the seller to fix them before completing your purchase, or you can use the repair cost to haggle for the asking price.
Make sure you have details about utilities
Bills and utilities can be problematic enough to arrange when to move into a new property without having to find out and source the provider of each service. When buying your property, make sure the seller offers as much information as possible. The gas supplier, the electricity supplier, maybe all previous suppliers too. These are just examples, but go over everything you think will be useful and obviously make your life easier once you move in.
Check your garden for problems
Homeowners often forget about the considerations they may encounter in the exteriors of their property. Gardens are often viewed at face value and problems that may arise are barely considered. For example, a garden of Japanese knotweed can actually prevent your mortgage lender from loaning you the money, and it can cost up to £ 20,000 to remove these weeds! Likewise, large trees can grow nearby or on your property and create structural hazards.
Helpful? We hope so!
Buying a property is exciting and in some places overwhelming. So don’t forget to make a list of all the important checks to avoid unnecessary repairs and costs once you’ve completed your purchase.