PLANNING TO BUY

When considering buying your home, buying at the best price in the shortest possible time should be your aim. You have more chance of achieving your aim if you are exposed to the widest possible market.

WHAT DETERMINES HOUSE PRICES
Like all prices, house prices are determined by law of demand and supply: the greater the demand the greater the price and vice versa. A number of factors that affect house prices are:
• Size
• Location
• Plot size
• Condition; and
• Tenure (freehold or lease hold) of a property.

The state of the property market in the given area, including the strength of the local economy, the national economy, or the interest rates, can also have a crucial effect on prices.
Actual prices achieved (not the asking price which are sometimes way over the top) on other properties in the area are a good indication of what price to pay when purchasing your home.
The more individual a property is the more difficult, it is to determine what price to pay for it.

WHEN BUYING A HOUSE
When buy you must know how much you can borrow and what type of mortgage you will have. Once you have made up your mind visit estate agents, study local papers and start looking right away. It is always good to drive around your favoured location at different times and days of the week to have a feel for the area you intend moving to. It is usually helpful if you visit and keep visiting local estate agents because more than likely they know the latest developments and news affecting certain areas. It is also advisable to join the mailing list of the local estate agents. Be flexible with the time you will be available for viewing, you must remember that there may be other intending buyers looking for the same sort of property as you in the same area.

WHAT TO LOOK OUT FOR
When you think you have found the type of property you are looking for or a few other properties near enough what you are looking for it is important to make a note of what you actually saw so that you can make accurate comparisons. Hence the use of a checklist is very important.
If the seller is selling through an estate agent it is advisable to carry out your negotiations through the agent. In property deals always remember that there is often flexibility and the range of possibilities can be very wide so good negotiating is important.
When buying your home do not let your emotions take over. First impressions are important, but you may well have missed some important points that your checklist may reveal. Although there is much truth in saying ‘one instinctively knows when something is right’ but the golden rule is, never decide to buy a house on a first visit.

THINGS TO CONSIDER
1. Price?
2. Freehold or leasehold?
3. Address of the house? What sort of neighbourhood
4. Location? Schools, Shops, Recreational facilities and Public transport.
5. Location drawbacks? Puns too near, Under main flight path, Poor or dated design, Next to factory or commercial building
6. Future Appreciation? Individuality of houses, Will the house sell readily in the future
7. Internal and external conditions? Is this in good order
8. Council Tax Band?
9. Investigate bills where possible: Are these all connected
10. What fixtures and fittings are to be left?

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