An expert has shared five red flags to look out for when buying a property, including issues like damp and mould, and a high asking price
Purchasing a property, whether you’re stepping onto the housing ladder for the first time or simply relocating, is always a thrilling period.
Nevertheless, it’s hardly shocking that the process of buying a house can prove quite overwhelming, given the numerous pitfalls that could emerge. Some of these complications might only surface once you’ve actually settled in.
Subsequently, you’re confronted with the anxiety – and cost – of attempting to resolve these problems, which might have been deal-breakers had you noticed them earlier.
Fortunately, one property specialist has shared five essential recommendations for making a wise property investment and steering clear of purchasing a home with flaws that could become a catastrophe, reports the Express.
Mish Liyanage from Mistoria Estate Agents explains that identifying warning signs before submitting an offer could spare you considerable expense later on, regardless of whether you’re a first-time purchaser 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.”
Warning signs to look out for
Building problems
Cracks in walls, drooping rooftops, or sloping floors might appear minor, but they frequently indicate severe structural complications.
Rectifying these problems can cost thousands and potentially postpone your moving date.
You should consistently organise a comprehensive structural assessment prior to buying, particularly if the property is older.
Moisture or mould
Water stains, peeling paint, and musty odours could indicate a damp or mould problem. Mould poses a significant health risk and is often difficult to eliminate.
Persistent dampness could be due to deeper issues with the roof, plumbing, or insulation. It can also deter tenants or decrease resale value.
High price
If the property is priced significantly higher than similar ones in the area, it’s a warning sign. 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 provide 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 approved by the local authority.
Low energy efficiency
A poor EPC (Energy Performance Certificate) rating not only results in higher utility bills, but may also make the property harder to sell or rent in the future, especially with stricter eco-regulations on the horizon.
Keep an eye out for old boilers, single glazing, lack of insulation, or outdated electrics. These may require immediate work to bring the property up to standard.