Caution – not all homes are what they appear! Why are the owners selling? Do your homework and find out – is there a proposed freeway being built next door? Is parking a problem? Are the neighbours from hell? Are there structural flaws in the house?
If you have identified all the negative points and you are happy to proceed – you need to determine how much you are willing to pay. Your initial price may now be lowered as you have identified flaws. You also need to keep in mind how much you can afford to borrow.
Real Estate Buying Guide and Property Checklist
Property selection is a very important part of the Real Estate buying equation and if you spend a bit of time working out what you want and what you can afford, it can save you a lot of time and maybe a few heartbreaks. Make a list based on the following guide:
Neighbourhood
Does the area have, or will it have, all amenities you might need (e.g. shops, schools and transport)?
Is it zoned residential?
Is the electricity connected?
Is the sewer connected?
Does it have TV and Internet cable services?
Is it free from road widening proposals?
Site
Is it free from filling, loose boulders, excess seepage of water, steep grading or dense trees?
If you are considering extensions, an engineer’s report may be necessary to assess the block
Is it free from landslip? Check with your engineer and if necessary obtain a geo-technical engineer’s report.
Exterior
Is the paintwork in good condition?
Is the building free from damp? Any signs of damp, especially rising damp?Usually found around windowsills on ceilings and under floor coverings.
Are the walls free from cracks, both inside and outside?
Are the roofing, guttering and down pipes in good condition?
Is the floor level and in sound condition?
Are timber floors free from springs? Floors free from cracks?
Plumbing
Turn on all taps to check for water pressure and water hammer.
Does water in sinks and basins drain away quickly?
Is hot water connected?
Is the size and type of hot water service suitable?
Will it be large enough for future needs?
Electrical
Check the number of power points. Are they suitably located?
Are air-conditioning or heating appliances included in the price? Are they in good condition? Are they paid for?
Is the telephone connected?
Will the house be expensive to maintain?
The Building Structure - Interior
Is the plaster in good condition? Check behind furniture.
Does the house have good natural lighting and ventilation in all rooms?
Do the windows and doors open and close properly?
Any flyscreens? Condition?
Bedrooms
Will the bedrooms be affected by noise and light factors? e.g. nearness to an intersection may cause problems with traffic lights, headlights from passing cars, screeching brakes. If the house is on a hill, trucks changing gears can create noise
Are the bedrooms located so that they are reasonably free from living area noise?
Is there sufficient ventilation? Will the bedrooms be cool in summer?
Will your furniture fit?
Are wardrobes included in the price?
Bathroom
Is there sufficient ventilation?
Is there a fan to extract steam?
Is the shower recess free from leaks? Test to see if water leaks through or under the screen.
Is there a power point?
Are there mirrors, cupboards, towel rails?
Is the toilet in good condition?
Kitchen
Are there sufficient cupboards for storage, and bench space for preparing and serving food
Do the cupboards open and shut properly? Is there room for additional cupboards?
Is it large enough? Is there an exhaust fan? Do they work properly? Test.
Is there adequate lighting, both natural and artificial?
Will the refrigerator fit? Is there room for a dishwasher and microwave?
Is there sufficient ventilation?
Living and Dining Rooms
Will your furniture fit? Is there room for an extended dining table?
Is the kitchen close enough to serve food easily?
Are their power points?
Is the lighting adequate?
Will my furniture fit? eg. Stereo, lounge, TV, chairs, table,?
Is there a TV Antenna outlet?
Is there a heater or airconditioner included in the price?
Laundry
Is the hot water connected?
Can your automatic washing machine be installed without any problems?
Are there any power points?
Is their room for a clothes dryer?
Are their ironing facilities?
Is there a floor waste (drain) or is the floor sufficiently graded so that any overflow water can escape
without causing damage?
Garden
Are paths and fences in good condition?
If there is a pool, does the fencing comply with safety standard regulations?
Is there a garage or carport?
Are there storage facilities?
Is it possible to extend the house for future needs?
Has the house already been added to?
Did authorities approve these extensions?