7 things to consider when purchasing a property in the UK

Whether you are a first time buyer or already up in the property ladder, buying a house is a major decision in life. It is considered to be a time consuming and a stressful exercise involving many elements that need to be carefully looked at, to make sure there are no hidden issues. 

Look out for the following 7 factors to make sure that you are making the right decision. 

1. Budget

This is the first of step in finding the property which suits your pocket. You can simply look for properties with a figure in mind on how much you can afford through your savings plus borrowing. There is a general perception that you can borrow up to 4.5 times of your income. But it is always better to consult a mortgage broker and obtain a Decision in Principle (DIP) on the amount you can borrow. It is free and involves only a soft credit check, so there is no impact on your credit score.

2. Room size (Space)

This is one of the important factors of any property, since there is no point in buying a small house if it cannot meet your future needs. But all depends on your individual circumstances. For an example, a small house may be ideal to retire in few years time.

3. Neighborhood (Location) 

Location is everything when buying a house. You can change the house but not its location. In property business, amenities are considered to add more value to the location. Consider the location in detail, schools, transport links, parks and green space, restaurants, shops and pubs, etc.

4. Wall conditions

Look out for any peeling wallpapers, any patches caused by mildew, discoloured walls or musty smells. These are as a result of moist air condensing on the walls and indicates poor ventilation of the building. The cost of repairing these might be high and could also cause health hazards. 

5. Windows

Check whether the window frames are in good condition. Specially the check the corners for any cracks or signs of rotting.  Always go for double glazing windows in order to save energy and keep the house warm.

6. Plumbing/ Electrical

Make sure that the plumbing is up to the mark. Flush the toilets, run the taps to see the water pressure. See how long does it take to warm the shower. Check the cupboards under the sink to make sure they are dry and with no leaks.

Check the switches, ask about the a average value of the electricity bill. Check the main switch board and the condition of trip switches, since restoring of electric circuits can cost a lot of money.

7. Garden/ Backyard

Check the size of the Garden. Check for the cost to maintain it. Will it need some restoration or grooming. However, having a well maintained garden is a major plus point when reselling.