Buying a New Home: Ten Point Checklist
By David Carter
When buying a new home (not newbuild) for peace of mind remember to check out these points.
Has any building work been carried out on the property since the current owners moved in, and if so, who was it done by, and is it still under warranty? Warranties are usually transferable and you may as well grab them if you can.
What is the average cost of the utility bills, the gas, electricity, heating, water, and local government taxes? These can vary hugely from place to place, and could make a big difference to your total outgoings. You need to know.
Does the garden or yard get sunshine, and if so at what time of the day, or is the area prone to flooding at certain times of the year? Take particular interest in this point if the property is located close to a river or the coast. Placid rivers in the summer can be torrential beasts in winter. Lapping waves can soon become giants. Imagine that, as you stare out across the shimmering blue sea.
Are there any trees planted close to the property? These can undermine foundations and cause serious damage. Never buy a thatched cottage situated below large trees. The constant dripping will quickly damage and rot the roof, and if there are trees overhanging the house, check out if there are any restrictions in pruning or removing them. A leafless tree in winter can go unnoticed, but that same tree in full leaf in high summer may make the property oppressively dark inside.
What are the neighbours like? This is not always an easy question to answer, but we have all seen programmes about impossibly awful neighbours, and believe me, you wouldn't want to pitch up next to the neighbours from hell. A little research will give you some peace of mind, and remember this is definitely not a point your legal eagles will always answer satisfactorily. It is certainly something you are best doing yourself
Is vehicle parking in the area easily and freely available for you and your visitors? If it isn't, you might find your visitors visit less, though only would know if that was a good thing.
Has the property you are buying, or indeed any of the neighbouring houses ever been robbed. Is it located in an area known for house breaking and burglaries? If the owner seems strangely reluctant to answer that, you might wonder why, and you could ask your local police sergeant.
How quickly do the owners want you to move? This might suit you, but equally it might not. Check it out for peace of mind.
How long has the property been up for sale? If it has been on the market for many months, or even years, that's a sure sign that something may not be right. Perhaps the price is too dear, perhaps the house is falling down, perhaps the neighbours are appalling. Whatever the reason, you need to know. Delve deeper.
If you have children, are there good schools close by? You don't want a twenty mile drive across the busy city, or difficult terrain every morning and afternoon. Good local schools are one of the first things families look for when buying a home.
Some people leave everything to be checked by their legal team, and are then surprised when they run into problems. Fact is, legal teams don't check all these items, so it is up to you to do so. Remember, for greater peace of mind, you can't check too many points, too thoroughly, when buying a new home.
David Carter’s latest published work is SPLAM! Successful Property Letting And Management. Splam! contains over 240 pages of hints and tips on how to start your own property business on a limited budget, and how to successfully let residential property. You can view actual extracts of the book at http://www.splam.co.uk and order a download or a hard copy at this site, or you can go direct to the publishers at http://www.lulu.com/dc He also runs a holiday cottage website where you can access over 7,000 holiday cottages, apartments and villas worldwide at http://www.pebblebeachmedia.co.uk Don’t you deserve a holiday this year? Well of course you do! You can contact David on any matter, any time, at supalife@aol.com
Article Source: http://EzineArticles.com/?expert=David_Carter
Thinking of Selling Your Home and Moving In With Relatives?
By David Carter
There comes a time for most of us when we decide that we can no longer keep on our homes, and rather than go into a care home, many of us decide to sell up, and move in with relatives. Some of us never have that opportunity of course, but for those of us that do, it is most important that this idea is fully thought through.
But before you do this, ask yourself some basic questions. To begin with, do you like the person you are moving in with, do you get on well with them? For if you don’t like them much now, you sure as heck won’t like them at all when you are spending all day, every day, in their company!
And there are other important matters to consider too; such as how will the living arrangements work? Will you have your own room, or even a small apartment within the greater house? Is the house you are moving to suitable for you, are there lots of stairs, or threatening dogs running wild? A big dog may be nice to meet once in a while, but would you really be happy with an aggressive hound, or two or three of them, snapping round your ankles all day? The same goes for boisterous children too. The grandkids may be great fun on high days and holidays, but young teenagers can be most demanding to live with right round the clock. Are you really ready for all that?
What about eating arrangements? Will you share, or cook and eat alone? And if you are sharing, will you be able to cope with the spicy and exotic foods that many younger people take for granted today, the same food that many of the older generation have never much liked? These are all important points to consider if you seek longer-term harmony within the household, and let’s face it, that is so important.
And perhaps most importantly of all, what will be the financial arrangements? Will you pay rent, or help to pay the household bills? Would you sell your home and make a sizeable contribution towards the cost of a newer larger home for you all? If you did that, who would own this new home? And of course the most important thing of all, if you found that you did not get on well and wanted to move out again, could you do so, and most importantly, could you get your money out again, to buy a new apartment for yourself?
Though it might be considered excessive, it is a good idea to have drawn up a legal agreement between both parties before you enter into any such arrangement. And if you do that, it is always prudent to spend a little money on pukka legal advice, so that you know that what is being said, and agreed, is actual fact. I’m sorry to say that verbal arrangements between family members over large amounts of cash can be easily forgotten within a short period of time.
One chap I knew took in his aging aunt. She was becoming a little confused and signed over all her affairs to him. Without her knowledge he then proceeded to sell her bungalow, and what’s more, invested all the money in his ailing second hand car business. A little while later the lady seemed a great deal better, and duly announced that she was well enough to return to her bungalow. You can imagine how upset she was when she discovered that she no longer owned her own home, nor had received any money from the sale proceeds, and all this business had been done quite legally without her knowledge.
If you are selling your own home and decide to move in with relatives, always think everything through most carefully. Have a legal agreement drawn up, and most importantly of all, make sure that you have an exit strategy in place, for you, and your funds, if you discover, perhaps to your absolute horror, that you really don’t get on with your relatives at all.
People who have lived alone or solely with their partner for twenty, thirty, forty years, are often the most unsuitable people to suddenly be thrust into the busy noisy environment of a crowded boisterous home. Could you really get to sleep at 10.30pm if your young nephew was carrying out his rock band practice, or playing loud music in the next room until midnight? Think about it long and hard, and have that agreement drawn up, it may seem hard hearted, but if you ever needed it, you still have some security. If you give all your assets and independence away, then what have you got left? In the case of a dispute, absolutely nothing, and that is too terrible a prospect to contemplate. If you are considering this course of action, why not go and stay with your family for a month’s holiday, or two? That will certainly go some way to reassuring yourself that everything will be well, but always keep your wits about you, and think most clearly about what might happen if you are unhappy there.
David Carter’s latest published work is SPLAM! Successful Property Letting And Management. Splam! contains over 240 pages of hints and tips on how to start your own property business on a limited budget, and how to successfully let residential property. You can view actual extracts of the book at http://www.splam.co.uk and order a download or a hard copy at this site or you can go direct to the publishers at http://www.lulu.com/dc. He also runs a holiday cottage website where you can access over 7,000 holiday cottages, apartments and villas worldwide at http://www.pebblebeachmedia.co.uk. Don’t you deserve a holiday? Well of course you do! You can contact David on any matter any time at supalife@aol.com
Article Source: http://EzineArticles.com/?expert=David_Carter
October 4th 2004 WEST COUNTRY PROPERTY PRICES FALL
The latest proof that property prices are falling arrived in our office this morning with the newsletter from the Devon estate agent Bond Oxborough Philips. Among the juicy enticing offers contained in their mailing is a modern detached home in Ilfracombe reduced by a whopping 44,950 from 269,950 to 225,000, an impressive five bedroomed detached house in Combe Martin reduced from 450,000 to 425,000 and a 3 bed terraced house in Hele down from 189,950 to 171.950. Details of these and many other propeties can be found on their web site www.bopproperty.com
September 27th 2004 SUPERMARKETS MOVE INTO HOUSING
In an incredible development three British supermarket groups, Asda, Tesco and Sainsburys have all announced they intend to move into building and selling hundreds of new homes over the next few years.It is beleived that Asda and Sainsburys both plan to build and sell 1,600 homes over the next three years and that Tesco is planning to build 1,000 homes in the next year alone. The housing developments will form part of new joint housing schemes. It is thought the inclusion of the housing element will smooth the way for the Stores to gain planning permission where otherwise they might not.
In Poole in Dorset Asda have just opened a fantastic new waterside 58,000 square foot store next to the National Lifeboat headquarters that looks out over Holes Bay. Besides the store the developpment includs 64 social housing flats, nearly a hundred waterside apratments, a hotel, leisure scheme, and new offices.
September 23rd 2004 BRITAIN'S BIGGEST HOUSE BUILDER BANKS BIG PROFITS
Barratts, Britains biggest house builder reported pre tax profits of 367.7 million pounds for the year to June 30th on a turnover of 2.5 billion. Profits were boosted by the average selling price jumping to 166,000. But despite that the company disclosed plans to build fully 40% more homes by the year 2010. The company expected to build 14,700 homes to June 2005. It aims to build 20,000 by the end of the decade. Barratts reported that it was now building 82% of its new properties on brown field sites
September 23rd 2004 I RECEIVED THE FOLLOWING LETTER TODAY...
From an estate agent in Warminster Wiltshire where I am trying to buy another property. It's so unuusal I will quote it. "IMPORTANT PROPERTY NEWS! The market has definitely definitely cooled! Buyers should be careful that any decision they make is only made with full understanding of what is happening in the market today and what is likely to happen in the short term future! Financial experts are reporting that interest rates (currently 4.75%) are now at or near their peak! It is widely expected that interest rates will actual (ly) start to come down again in the middle of next year! Asking prices locally are not falling, but vendors are now accepting offers below the asking prices in some cases 5% - 10% less than the quoted asking price!
Instruction levels are currently at a high level and the choice for buyers is excellent! WHAT THIS MEANS TO YOU. Although August has been quiet we are finding an increase in viewing activity and in sales agreed in September. Proceedable buyers need to view property that they feel might interest them. Then, make offers of 10% less on any, or several, property (ies) that seems suitable. Be prepared to increase your offers, but expect to pay no more than 95% of the asking price. That way you will get a reduced property ahead of the market picking up again as interest rates become more confident. Don't miss out."
What an extraordinary letter. The exclamation marks are not ours!!! And bold predictions too. I can never recall receiving such a letter from an estate agent before. It will be interesting to monitor whether the interest rates have become "more confident" and indeed pricing levels as we go through next year.
September 22nd 2004 AMERICAN INTEREST RATES RISE
Alan Greenspan yesterday raised American interest rates again despite the nearness of the Presidential Election in six week's time. The Federal Reserve pushed through a quarter point rise, increasing US borrowing costs to 1.75%
September 21st 2004 UK HOUSE PRICES FALLING
The long awaited and much forecast fall in UK house prices gained some momentum today as four separet surveys showed that the recent rises in interest rates have deterred buyers from taking out new loans. One in four estate agents throughout the country is now reporting that house prices are falling. Bank lending for mortgages fell to twenty five billion pounds in August 2004, down from just under twenty nine billion in July. However housing stocks for sale in the south remain low and this shortage seems likely to place a limit on further price falls. There is also some evidence of buy-to-let investors, some of the amateur landlords, baling out as good tenants become increasingly difficult to pin down.
September 20th 2004 MONEY LAUNDERING REGULATIONS
Government statistics suggest that an amazing eighteen billion pounds of the UK's economy is made up of laundered money, with criminals often turning to the property market to help them legitimise the proceeds of their crimes. The governemt has brought in new laws to prevent crooks from doing this. The Money Laundering Regulations/The Proceeds of Crime Act applies to anyone buying, selling or renting property including companies and businesses operating both within the UK and abroad.
Estate Agents now have a number of new obligations. These include a requirement to carry out a number of identification checks. When putting up a house for sale the vendor will have to provide additional information prove their identity. This could take the form of a full valid passport, a driving license, birth certificate or recent correspondence bearing the vendor's address such as a bank or credit card statement. Buyers will be required to confirm the source of their funding or mortgage arrangements
September 18th 2004 FREE PROPERTY COURSE
You can collect a FREE mini property course simply by clicking on this link. The course contains information on where and how to find properties to develop. How to obtain them at the best prices, and a huge amount of additional information for aspiring property developers and portfolio builders and the best part of it is that it is quite free. To collect your FREE mini course click here:
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September 17th 2004 TESCO LAUNCH ASSAULT ON HOME LOANS
It is reported today that the Tesco group are planning to enter the home loan mortgage market in a big way. The company already makes nearly 80 million pounds a year from its highly successful financial services division and this is the latest move towards increasing their involvement in this highly competitive field. Their car and house insurance divisions have already demonstrated great success and no doubt it is these customers Tesco will target first.
September 14th 2004 HOUSE PRICES LEAP IN JULY - BUT BOOM IS OVER
House prices in the UK leapt by 2.1% in July, according to the ODPM, (The Office of the Deputy Prime Minister) but this could be the last increase for some time. Prices in Wales were up 4.6% on the month and an incredible 30.4% on the year. The north east of England was not far behind clocking up an annual increase of 29.5%. But prices in the south east, so often the leader when it comes to price trends showed an annual increase of 8.2% on the 12 month period. Many estate agents are now reporting prices coming off the top which should feed through in future ODPM monthly reports.
September 10th 2004 RIGHTMOVE's SPANISH ARM
H2O Homes Overseas Countrywide is the Spanish arm of Countrywide plc, one of the founder partners of Rightmove, with well over 800 estate agency branches throughout the United Kingdom. Colinas del Faro, Costa del Sol Prices from £90,000 Villas up to and over £2million As you can imagine, given that Southern Spain is almost 2000 miles away from UK, technology plays a huge part in helping customers explore apartments and villas prior to committing themselves to coming to Spain. H2O Homes Overseas offers the safety and security to buyers throughout the Costa Blanca and Costa del Sol, along with the Portuguese Western Algarve.
Buying an overseas home with the security from land grab, unscrupulous sales methods, all supported by an excellent after sales support scheme, cannot be underestimated, particularly if it's underpinned by Countrywide plc, a UK FTSE 350 company. H2O have a number of unique products, some that are offered pre-launch to our client database, and have properties from as low as £80,000 up to over £2million. In addition, financial services including Spanish based mortgages at 3.5%, are available to assist your purchase. H2O have the following upcoming exhibitions. We would be delighted if you were able to attend:
Exhibition Schedule
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Milton Keynes Sunday, September 19th, 2004 National Hockey Stadium,
Silbury Boulevard, Central Milton Keynes, Bucks 10:30am - 5pm - Abbey Rooms 1, 2 & 3
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Bath Saturday, September 25th, 2004 & Sunday, September 26th, 2004
Kingswood School, Lansdown, Bath 10:30am - 5pm - Theatre Studio & Foyer
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Alternatively, if you want to know more about H2O Homes Overseas Countrywide, log on to www.h2ocountrywide.com or email enquiries@h2ocountrywide.com
13th August 2004 PROPERTY MARKET SLOWS
Countrywide, Britain's largest estate agency group that includes Bairstow Eves, John D Wood and Mann and Co amongst its brands reported yesterday that it had arranged 25% fewer sales in July than it had the previous year. This is the latest sign that the recent interest rate rates are having an effect on the booming house price market. Lettings were also slowing down and it was noted that some amateur landlords were selling up.
Mister Christopher Sportborg, the Countrywide Chairman, said that a clearer picture for the future of the housing market would appear in the autumn.
July 31st 2004 SUN SHINES ON ESTATE AGENTS' JOKE AD
Couldn't help but smile at this article in the Lymington Times
A joke house sale advert which extolled a Barton property's virtues of being close to a funeral parlour, bingo hall, and blue rinse hair salon has landed a local estate agency in the national papers.
The advert, which appeared in Austin & Wyatt countryside column in the New Forest Post was for a 495,000 property in Highlands Road. It began normally enough stating that it was a unique property but then went on to state the property benefits from various elderly neighbours, local amenities include a bingo hall, funeral directors and Doris's Hair salon who provides the latest blue rinse styles.When the owner was told the story had apperaed in the SUN she said she was surprised but not really angry and hoped it would not offend her neighbours
Austin & Wyatt said that a couple of people had been messing around in their office and it should have been deleted on the computer but it went through in error
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