Even the most beautifully presented property will have a couple of drawbacks, be it the location or the need for a few repairs.
The question really is, how big are those problems and how do you cope with them?
Here’s our top five things to look out for when you’re attending a home open:
There are a handful of obvious noise problems to consider, such as if the home is on a main road or right next to a railway station. But some noises only become evident after you have moved in, by which stage it is too late.
Noisy neighbours can dramatically impact on your quality of home life.
You can listen for noise during the open for inspection, but this is really only a short period of time, so it’s best to drive past on a Friday or Saturday night and see what the street’s like.
Better still chat with the neighbours. Ask if they like the area. You can gather a lot from these kind of informal chats.
Not only is it important to buy into a good location (ideally a quiet, tree-lined street within walking distance of public transport and shops) but you need to buy into the right property on the right street.
Homes with a courtyard or back garden facing north are prized because they receive sunlight all day long.
But don’t be fooled by those agents who advertise homes as “north-facing”, this isn’t the same thing, as it means the back garden faces south.
It is worth noting that homes situated in streets with similar style homes tend to do better.
If you buy into a street renowned for its character, then a home there is likely to enjoy greater capital growth than those properties in streets with no clear architectural theme.
3. Structural issues
Water damage, pest infestations, electrical and plumbing problems and a poor roof are among the most common of structural housing defects.
The last thing you want to do is to buy a home only to move in and discover it needs re-stumping or there is an active termite infestation.
There are ways of assessing whether the home is afflicted with any of these issues.
Doors and windows that do not open and close properly are often signs of a home that has structural problems, and it isn’t difficult to see the signs of rising damp on the exterior of the house.
But the naked eye will only get you so far, so engage a building and pest inspector to report on the condition of the property. It may have flaws, but at least you’ll know what you’re dealing with and can factor those costs into your purchase offer.
4. A matter of difference
Look for a property that offers something a bit different from the rest. Perhaps it’s a view that cannot be built out or an architectural feature that enhances the attractiveness of the home.
Maybe it’s a second off street car space or a fireplace that adds character.
Often when you’re inspecting a property, it’s difficult to tell exactly what it will be like to live in, and if there’s one thing we all value in our homes, it’s a bit of privacy.
When inspecting a potential property, it’s important to ask yourself how private the space is.
Are you overlooked by a huge apartment block?
You may tell yourself this does not matter but that could change once you move in and want to spend time relaxing in your backyard. Or it will matter to potential buyers when you look to sell in the future.
Has the zoning in the area changed recently to allow for higher-density developments? If so, there’s a chance the house next door could be turned into an apartment block that not only casts a shadow but also takes away your sense of privacy.
If you’re looking at buying an apartment, make sure there’s some kind of private outdoor space, even if it’s only a balcony.
These considerations are by no means comprehensive, but are a good way of framing your thinking when you are walking through your next potential purchase.
For more tips on purchasing your next property, visit the blog section of the Naked Real Estate website.