Whether you're viewing a home to buy, or preparing your current home for sale, knowing what to look out for could save you time and money.
Buying a property
It’s easy to get caught up in the excitement of buying, and miss telltale signs of disrepair. The Royal Institution of Chartered Surveyors suggests viewing a property at least twice, at different times of the day, and it’s a good idea to return on a rainy day to check for leaks through the roof, walls or ceilings. Look for problems that are expensive to repair or replace, rather than getting hung up on relatively inexpensive things such as décor. Kitchens and bathrooms can be the most expensive rooms to renovate – pay close attention to their age and quality. Check water pressure and drainage by turning on all taps, inspect the hot water system, and make a note of major cracks in walls and ceilings or sticking doors, which can be a sign of subsidence. Finally, check for damp by feeling the walls and looking for watermarks or mould and signs of peeling or bubbling paint. Download a buying guide from the HomeOwners Alliance.
Selling a property
Baking bread, brewing coffee and arranging flowers. When it comes to readying your home for potential buyers, we’ve heard all the tricks. But do you need to go to all that trouble? According to the HomeOwners Alliance simply tidying up, getting rid of excess clutter, giving all rooms a coat of lightly coloured paint and fixing nagging repairs such as blown lightbulbs, cracked windows and dripping taps, you’ll make a big difference. Finally, keep your property clean at all times – you never know when a potential buyer will want a viewing. Download their selling guide.
This Money Matters post aims to be informative and engaging. Though it may include tips and information, it does not constitute advice and should not be used as a basis for any financial decisions. Sainsbury's Bank accepts no responsibility for the opinions and views of external contributors and the content of external websites included within this post. Some links may take you to another Sainsbury's Bank page. All information in this post was correct at date of publication.