Questions You Should Ask Before A Property Purchase
When hunting for a property, we often find ourselves in a magical world where agents create delightful images of the property we are eyeing. These sellers’ agents would go to any lengths to magnify the quality of a real estate property. It then becomes very important that you conduct your own research- a forensic level research-and then only get ahead with the property purchase.
Here are a few questions you should ask yourself before a property purchase:
- What kind of money is government spending for infrastructure in the locality?
- How is the capital growth shaping up for the area?
- What kind of rental yields has the neighbourhood witnessed?
- Is it a renovation-worthy property?
- Have the comparable sales figure been decent enough?
- What is the slope of the land?
- What kind of orientation does the property observe?
- Is there an encroachment on the property (ingress, egress, among others)?
- Does the property meet energy-efficiency standards?
- Is it built with an eye towards minimising carbon footprint and eco-balance?
- What is the seller’s reason for selling the property?
- Does it meet the standards of the building and pest inspection report?
- Is the title deed an honest one?
- Is it a tenanted property?
No property can tick all the boxes
It is only expected that even the best properties won’t match all these standards, and as a buyer, you will need to circumvent through a few obstacles at least. Nonetheless, if you have a seasoned buyer’s agent working for you, he/she will definitely make sure that your property purchase ticks the maximum number of boxes.