The journey to finding your perfect home can be long, especially when it comes to viewings and making offers, but it doesn’t have to be daunting. This guide will give you the confidence to ace every property viewing and master the art of making an offer. Ready to turn those house-hunting dreams into a reality? Let’s dive in.
What to look for in viewings
When you step into a potential new home, it’s easy to get caught up in the decor. But, to truly know if a property is right for you, you need to become a detective. Look beyond the surface and focus on the practicalities.
Key property checks
It’s crucial to examine the fundamental elements of the house and things that might crop up later, in the form of expensive repairs. Look for signs of damp and mould like peeling paint or a musty smell. Check cracks carefully, as hairline ones are usually cosmetic, but larger, jagged cracks could signal structural movement. Test all windows and doors to ensure they open smoothly and look for condensation, which might indicate a broken seal.
From the ground, try to spot issues with the roof and gutters. Don’t forget the vital systems: ask about the age of the boiler and fuse box, and always turn on taps and flush toilets to check water pressure. Finally, consider the practicalities: is there enough storage space, and how much natural light does each room receive?
Location, location, location
A property is only as good as its location. Take a walk around the immediate neighbourhood to assess local amenities like shops, transport, or schools. Pay attention to noise levels – is it on a busy road or can you hear any noisy neighbours? If possible, visit at different times of day. It’s also wise to ask the agent about any future development plans nearby that could affect your view or property value. If you commute, try the route to get a real feel for the journey.
Ask the right questions
The estate agent is there to help, so come prepared. Here are some questions you should always ask:
- How long has the property been on the market?
- Why are the current owners selling?
- Has it been renovated recently?
- What’s included in the sale?
Don’t hesitate to ask about any known issues or when major components, like when the boiler or roof were last replaced. Want even more questions to ask? Check out our guide on 10 questions to ask estate agents at property viewings.
Visualise your life
Beyond the practicalities, try to imagine yourself living in that space. Will your furniture fit? Does the layout suit your daily routine? Consider whether you might want to do any renovations and think about the likely costs.
The power of a second viewing
If you’re serious, a second viewing is highly recommended. You’ll spot things you missed the first time around, and can bring a trusted friend or family member for a fresh perspective.
Your viewing checklist:
- Take photos/videos (with permission)
- Bring a friend or family member
- Don’t be afraid to open cupboards
- Note pros and cons immediately after
Mastering the offer: your strategy to close the deal
You’ve found ‘the one’, and now comes the crucial step: making an offer. This isn’t just about the number – it’s about strategy, confidence, and showing you’re a serious buyer.
Sort out your finances first
Before offering, get your financial ducks in a row. Getting a Mortgage in Principle (MIP) shows sellers and estate agents that you’re a credible buyer and have researched how much you could borrow. You can get a free MIP in minutes within the Moneybox app.
Beyond that, be crystal clear on your budget. Don’t bid more than you can afford, and remember to factor in all associated costs: your deposit, stamp duty, legal fees, and moving expenses. Moneybox Mortgages is here to support your entire mortgage journey, from initial advice to securing your mortgage and even arranging essential protection policies for your new home.
Understand the market
Information is power. Research local comparables – what have similar properties recently sold for? Find out how long the property has been on the market, because if it’s been listed for a while, the seller might be more flexible on price. Any clues you picked up about the seller’s motivations can also be valuable leverage.
Strategising your initial offer
There’s no single perfect approach. Buyers often start below the asking price, with the exact amount depending on market conditions and how long the property has been listed for. In a competitive market, or if you simply love the place, offering the asking price – or even slightly above – might be necessary.
You can also make conditional offers, for example, that your offer is subject to a satisfactory survey. Remember, the current housing market can influence tactics, but these core principles remain vital. Sometimes, sweetening the deal isn’t about price – if you’re a first-time buyer with no chain, or you’re flexible on move-in dates, these factors can significantly strengthen your offer.
The negotiation
Once you’ve offered, the negotiation begins. Don’t rush your decisions – take time to consider counter-offers. Remember, it’s a negotiation, and sometimes the best move is to be prepared to walk away – there will always be other properties. Use your leverage effectively, highlighting your MIP or lack of a chain. Finally, ensure everything is in writing, as the estate agent is legally obliged to communicate all offers to the seller.
Navigating viewings and offers can feel complex, but you don’t have to do it alone. The Moneybox Mortgages team of experts are here to guide you through every step. From getting your free MIP, to helping you understand what makes a strong offer, and ensuring you have the right protection policies in place for your new home and mortgage.
Viewing properties? Start shopping around for the right mortgage deal, so you’ll be ready to apply as soon as you’ve made an offer. Speak to a Moneybox Mortgages broker in-app, for free, personalised mortgage advice. They have their finger on the pulse of the market and can compare thousands of deals from over 90 lenders to find the right one for you.
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Provided by Moneybox Mortgages Ltd.