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Questions You Should Ask Before A Property Purchase

neighbourhoodWhen 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.