There are lots of exciting stages to buying a house. However, there are a few important mundane tasks involved in the homebuying process too. It’s important that you don’t overlook these tasks, as not carrying them out in time could have severe negative consequences. Below are a few of the essential boring tasks you shouldn’t overlook.
Skipping the survey
Paying for a home survey isn’t mandatory, but it’s highly recommended. This involves paying a licensed surveyor to inspect the condition of the building before you commit to a purchase. A home survey is important for making sure that there are no hidden major repairs needed like foundation repairs or a new roof. A survey could also help to check that there are no major planning restrictions or natural disaster risks (such as flood risks).
Forgetting the legal paperwork
A lot of legal paperwork needs to be carried out when buying a house to make sure that ownership rights are fully transferred from the previous owner to you. This is not something a regular person can carry out, so you’ll need to hire a licensed conveyor. There are many law firms such as Beyond Law that can handle conveyancing. You should hire a conveyancer as soon as you’ve settled on a property (or if you’re about to work with an agent to help sell your previous property). Failing to do so could result in the sale falling through.
Not saving for all the hidden costs
A lot of first time homebuyers focus solely on the deposit. But there are many other costs that need to be accounted for too such as legal fees, mortgage valuation fees and closing fees. It’s important that you can afford all of these fees – you don’t want a mortgage to be rejected at the last moment because you can’t afford one of these extra fees. This page at HomeOwners Alliance delves into some of the hidden costs.
Overlooking energy efficiency
When making sure that a property is right for you, check that there is a recent energy report available. This can help you to understand how energy efficient a home is, so that you’re not spending too much money on energy bills. Good insulation or solar panels are perks to look out for. It is the duty of the seller to arrange an EPC before putting a property on the market and they should be able to readily show you the report.
Packing last minute
While you may be able to pack last minute for a holiday, you cannot pack last minute for a house move. If you’ve hired a moving company for a certain date or new occupants need to move in, it’s essential that you’re ready on time. Packing early could stop any delays, but can also have many other advantages. By starting several weeks in advance, you can thoroughly sort through items and donate/sell anything you don’t need instead of taking it with you to your new property. You can also organise boxes more efficiently – including buying specialist packaging supplies for fragile items.
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