Buying a home comes with its fair share of costs. From legal fees and stamp duty to valuation expenses and surveys, there are a number of homebuyer costs that need to be factored into your financial planning.
But before you put an offer in, property consultant and Keller Williams estate agent Amy Brown recommends asking a few key questions to ensure you account for any hidden costs, potential issues with the home and get a better understanding of the property’s condition and worth.
“Doing so at the viewing stage really helps you budget for any works that need to be done and therefore know your affordability and help plan future works,” Amy explains. “Some of these things will be covered during the survey and/or conveyancing, but it’s always useful to know these from the get go.”
So whether you’re viewing properties or you’ve found your dream home — these are the list of questions to ask an estate agent before making an offer.
Questions to ask an estate agent
1) When were the electrics last replaced and tested?
Aside from the roof and plumbing, the electrics are one of the most important and costly parts of a home to repair or upgrade. That’s according to Home Service Reports, which states that the average cost to re-wire a three-bedroom house can cost anywhere between £4,450 to £8,000.
2) When was the boiler last replaced and tested?
Generally speaking, Amy says that most boilers last between 10 to 15 years. So anything older, in or nearing that age range may need to be replaced. Checkatrade puts the cost of purchasing a new boiler and having it fitted in the region of £3,000 to £15,000. So it’s well worth finding out how much life is left in the current one.
3) When were the windows last replaced? And is certification available?
Another costly expense is your windows. “The average lifespan on windows is generally between 20 to30 years, depending on the quality and fit,” Amy explains. The best way to ensure the windows are fit for purpose? Amy suggests getting proof via a certification.
4) When was the roof replaced?
Replacing a roof can be an expensive (and not to mention laborious) task. And it makes sense — the complex structure provides insulation, supports ventilation and protects an entire home from the Great British weather.
So before putting an offer in, Amy recommends asking when the roof was replaced and if there have been any issues or leaks.
5) Has the property ever been underpinned or had any structural issues?
Some homes can be affected by structural issues, including subsidence. In some cases, the red flags are easy to spot as you might spot large cracks in walls or sloping floors. But it’s not always the case. Especially if the property you are viewing has been underpinned and its foundations have been repaired.
6) Have there been any issues with flooding?
Not only can flooding affect a property’s safety and value, it can also have an impact on building insurance costs and future maintenance needs.
7) What works and/or improvements have been made by the owners?
Amy says you should also ask: “Are there any guarantees?” If so, estate agent Amy says you should ensure there is planning permission and building control sign off for any relevant works.
8) What are the average monthly costs relating to the property?
This includes utilities. Plus, there might also be service charges and ground rent to pay.
9) What appliances are included within the sale?
Not all appliances automatically come with the property. So, to avoid any misunderstanding (and another expense shortly after moving in), do check to make sure what’s included in the sale.
10) Has anywhere been tested for Asbestos?
“Some properties are more likely to have asbestos than others,” Amy explains. “That’s because asbestos was most used between the 1940s and the 1970s and blue and brown asbestos was banned in 1985 and white asbestos later in 1999. Asbestos is only an issue when it is damaged and fibres are released, so if you plan on leaving it alone, it is not an issue.”
Ready to find your new home?
Multi-award-winning mortgage adviser Jo Jingree deals with first time buyers, remortgages and has a wide range of experience in helping self employed people onto the property ladder.
So, whether you’re moving home or are looking to buy your first home, do get in touch.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances, but we estimate it will be £399.
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