Five important questions to ask before buying a house in Forest Hill, SE23.

When you begin your search for a new home, it is an exciting time. You can easily get swept away with the romance of finding your dream home. Failing to ask specific questions could see you losing time and money, and even leave you with buyers’ remorse. At Benjamin Matthews we want to ensure that when you make an offer on a property you have done everything you can to make sure you are in a position to proceed and have had all your questions answered. Therefore, when you are ready to buy a home in Forest Hill please make sure you ask the right questions.

1. Can you really afford it?

The cost of living is a real concern at the moment, with what seem forever rising costs eating away at our household finances, therefore the last thing you want to do is add any unnecessary pressure and stress. We can understand the allure of a beautiful home, but can you really afford it?

You may have been offered a mortgage in principle which will give you a guide to the maximum value of the home you can purchase, but that doesn’t mean you have to spend every penny. Take into account all the additional costs involved, such as searches and surveys, moving costs, new furniture and furnishings that may need to be purchased, as well as insurances. Add these to your current and projected outgoings in your new home, and also budget for an additional rise in cost of living. Only then can you answer the question: can you really afford it?

2. Is the property energy efficient?

If you’ve purchased a home before, how much notice did you actually take of the Energy Performance Certificate (EPC)? An EPC is a document which informs you of the energy efficiency of a property. It is a legal requirement to provide this information to buyers when selling your home. With energy bills at the moment putting a huge strain on family budgets, you may wish to take a closer look at how efficient the home you wish to purchase is.

3. Are there any additional monthly costs?

Utilities are just one of the monthly costs you will need to take into consideration as well as your Council Tax, broadband and other bills you are committed too. There could also be other additional costs which you haven’t considered: are there any communal fees? Is the property on a private road? You may not be aware such costs exist, therefore it is always advisable to ask this question when viewing a home so you can weigh this into your decision making.

4. How long has it been on the market?

If you have been trying to buy a home in Forest Hill you will know that some properties are sold incredibly quickly, often before you have had a chance to view, whilst others seem to keep popping up in your property search. The longer a home sits on the market, the more questions it raises as to why! The agent selling may have priced it too high initially, the marketing is not attracting buyers, issues could have been discovered on a survey, or it might need some modernising which is putting potential buyers off. Knowing how long the property has been on the market and, most importantly, why can also give you valuable information crucial when considering whether to make an offer.