One third of buyers in UK place offer after first property visit
Research from First Direct has found that more than a third of UK home buyers place an offer on a property after their first visit. On average, viewers will part with £226,000 based on a viewing that lasts less than 30 minutes. 36% of buyers made an offer after one viewing and 26% only made an offer after visiting the property three times.
Joe Gordon, Head of First Direct, suggests that this is because the market is moving so fast buyers want to be quick and make a decision before anything changes. However Joe warns that viewers should do their research when at a viewing to avoid facing pricey renovation bills when it’s too late.
With this in mind, refer back to the following points when viewing a property:
Is there damp?
A big giveaway of damp in a property is a mouldy smell, flaking plaster and watermarked walls and ceilings. Be sure to look closely at ceilings and skirting boards – if the room has just been repainted, could this be covering up signs of damp?
How much storage space is there?
Don’t underestimate the value of storage space. Where will you keep the kids toys? Is there room for shelves to be built? Newly built houses often lack storage space.
Which way does the house face?
In the winter months, it can be difficult to tell the difference between a north and south facing garden, but it summer it can make the difference between a frustratingly dark and cold house, to a home that is full of light and warmth. Don’t be shy to ask the homeowner or the agent this question – there is also an abundance of compass smart phone apps that can be downloaded for free.
Do the window frames have cracking paint? Is the double glazing intact?
External windows can give a lot away about the state of a property. If you can easily push your finger into wooden frames, it’s likely that they are rotten. If there’s condensation in between double-glazed window panes – they are probably faulty.
Are there enough plug sockets, and what condition are they in?
Dodgy wiring can be dangerous, and having your home re-wired is often expensive.
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