1. Business

Thinking of buying a property: Here are the things you should consider while evaluating a property

Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

 

When you are buying a property, it is important to evaluate the property carefully. There are several factors that you need to consider while evaluating the property. This will help you in making an informed decision about buying the property and also help you in avoiding any kind of potential problems. Here are some of the things that you should consider while doing property valuation in Sydney:

  • The age of the home

Homes that have been around for a long time tend to be more expensive than newer homes because they're more likely to have had major repairs done on them over time (and because newer homes aren't as common). However, if you're looking at an older home, make sure you know what repairs are needed and whether they're simple enough that you can do them yourself or with minimal assistance from contractors.

  • Age of appliances and fixtures

Make sure that all major appliances are in good working order and that they're energy-efficient models. Also, check to see if there's room for future upgrades or replacements if necessary.

  • Condition of floors

Pay close attention to the condition of all hard surface flooring, including ceramic tile, wood floors, and carpeting. Look for signs of wear and tear as well as water damage from leaks or floods. If possible, have an inspector take samples from each room so you can get them tested for lead content if necessary (this is especially important if you have children living in your home).

  • Condition of walls and ceilings

Look for mold growth on walls or ceilings; this is usually an indication that there's moisture present in the structure somewhere nearby such as under the flooring or around windows where water can leak through holes in the siding during rainstorms or heavy winds outside your home. You also want to make sure there aren't any holes in walls where pests can get into your house.

  • Neighborhood

If it's in a bad area, you can always improve it by adding more landscaping or even building a fence. But if you're renovating a house in an area where crime is an issue, you may want to reconsider your purchase.

  • Curb appeal

Curb appeal is another important factor when evaluating properties. It doesn't matter how nice the inside of a house looks if it doesn't have curb appeal. You want to make sure that your home has curb appeal before you buy it because otherwise, you'll have to spend thousands of dollars on renovations just so buyers will be interested in looking at it.

  • Foreclosure rates

If there are many foreclosures in an area, this will affect your ability to sell or rent out your property later on, since these homes will have trouble selling or renting at a profit for years to come.

  • Budgeting

Many people mistakenly assume they can afford more than they can afford because they're getting a mortgage loan with low-interest rates at the time of purchase — but don't forget about maintenance costs!

Sydney Property Valuers Metro

(02) 8599 9840

16/329 Pitt St, Sydney, NSW, 2000