Buying a property, whether you’re a first-time buyer or simply moving somewhere different, is always a really exciting time. However, it’s no surprise that it can also be pretty stressful, as there are so many things that have the potential to go wrong.
Some of these might not even become apparent until you’ve actually moved in. Then, you’re faced with the stress—and expense— of trying to fix these issues, which could have been a dealbreaker if you’d spotted them before. Thankfully, one property expert has outlined five top tips for making a smart investment in a property and avoiding buying a home with defects that could turn into a nightmare.
Mish Liyanage from Mistoria Estate Agents says that spotting any red flags before you put in an offer could save you a lot of money down the line, whether you’re buying for the first time or not.
He said: “It’s easy to fall in love with a property that looks like ‘the one’ but it’s vital to always keep a cool head.
“If multiple red flags appear, it’s usually safer and more cost-effective to walk away and keep looking.”
Red flag signs to look out for
Structural issues
Cracks in the walls, sagging roofs, or uneven floors might not seem like an issue, but they often hint at serious structural problems. It can cost thousands to repair these issues and may and delay your move-in plans.
You should always arrange a full structural survey before purchase, especially if the building is older.
Damp or mould
Water stains, flaking paint, and musty smells can point to a damp or mould issue. Mould is a big health hazard and often hard to get rid of.
Persistent damp can be down to deeper problems with the roof, plumbing, or insulation. It can also deter tenants or reduce resale value.
High price
If the property is priced a lot higher than similar ones in the area, it’s a red flag. Sellers sometimes overvalue due to emotional attachment, superficial upgrades, or market misjudgment.
Compare sold prices of nearby homes using tools like Rightmove or Zoopla, or contact a local agent for a professional valuation.
Legal disputes
If the seller can’t produce clear legal documentation like title deeds, planning permissions, or building regulation compliance, this is also a red flag.
Before you make an offer, ask important questions like whether there are any disputes with neighbours, whether the property is leasehold or freehold, and whether every extension or alteration has been signed off by the local authority.
Low energy efficiency
A poor EPC (Energy Performance Certificate) rating not only leads to higher utility bills, but may also make the property harder to sell or rent in the future, especially with tougher eco-regulations coming into play.
Look out for old boilers, single glazing, lack of insulation, or unmodernised electrics. These may require quick work to bring the property up to standard.
