Finding the 'One' – some helpful advice

Buying a home will probably be the biggest purchase you will ever make. It is essential to be fully aware and informed of the process involved, the options open to you and the issues to consider. If you are buying a property a thorough knowledge of the process cannot be over emphasized and as a purchaser it is essential to acquire the best advice. At Quillsen, we pride ourselves on our ability to offer the best advice.

Finance

When thinking of buying a home it is advisable to begin by evaluating your financial capacity and calculating how much you can budget to spend before you start viewing properties. If you are considering borrowing money to finance the purchase it is essential to seek the best financial advice from all of the lending institutions. The person best placed to do this is often an independent, reputable professional mortgage broker.

Having formulated your budget you will be in a better position to determine the general particulars of what properties are attainable for you with regards to size, location etc. It is advisable to view properties with asking prices that are slightly above your budget because in many cases the final selling price does not reach the asking price.

It is important to factor in all the costs and outlays that will be in addition to the purchase price such as stamp duty and solicitors fees when formulating your offers on any particular property. In situations where works are required to the property, it is important to have reliable estimates from an appropriate professional of how much the works are likely to cost, particularly if they are immediate essential works.

Location

Price and budget are important, of course, but they’re not the only factors in buying a house. How the location meets your needs is very important too. When you find a property that interests you, investigate how it is serviced in terms of transport, schools, shops and other facilities.

Proximity to all of these amenities will have a bearing on the quality of life the property offers to you, and consequently it will have a bearing on the value you will place on the property. It will also have a bearing on the future re-sale value of the property.

It is always wise to visit the local planning office and inspect any development plans for the locality. This will highlight any major local projects planned for the area which could affect your decision to buy or the future re-sale value of your property.

Viewings

Having narrowed down your search with regards to budget and location, you will now be ready to start viewing houses. If there is no “open viewing” advertised, you will need to contact the selling agent to arrange a private viewing.

When viewing a property, try to imagine it empty, with none of the clutter that the current owners have in it. Try to imagine how it might be remodeled / extended or improved to better suit your needs, it is often helpful to seek expert advice in this regard. Try also to imagine the property at night, or in bad weather, in order to get a realistic overall impression of what the house will be like to live in.

Research and check what properties sold for in the area. Go to Myhome.ie, daft.ie, the property price register and these will give you a knowledge base. Ask the estate agent lots of questions, they will be glad to help. The more questions you ask the more informed you will be. You will then be more at ease to place your first bid.

It is advisable to take a stroll around the neighborhood at various different times (e.g. during the day, at night and at weekend). This will help you determine if there is any undesirable local activity. It is also worth noting the neighboring properties and their condition.

You should always visit a property at least twice before committing to a purchase. In addition to any expert or professional opinions that you may require with regards to the structural condition of a property or the potential to extend a property etc, it is also advisable to bring along at least one family member or friend for a second opinion. A professional selling agent will facilitate this access for you.

These factors all combine to help you make a sensible purchase that is right for you.

When you have found ‘The One’

Once you have found the property you love and have placed your bid, then the really hard part starts. It can turn out that another person puts in a higher bid and you may have to bid a number of times. When the bidding goes beyond your budget it is disheartening, but it doesn’t necessarily mean all is lost. Sometimes the highest bidder pulls out of the process and the estate agents will go back to the under bidders to see if they are still interested.

Quillsen wishes you the best of luck! Happy House Hunting… and be sure to drop in to your local Quillsen branch. We can show you what we have in your desired area and we will be happy to help you with anything!

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