How to Research a Property Properly
Buying at auction can be risky but with enough research you can make sure you get it right and make no mistakes. There are plenty of companies that run residential property auctions and so there is a good chance you will be able to find your dream home. Before entering into an auction there are some things you should look into to ensure you get the best deal and the best property for you. Nearly all of the property auction companies will send you brochures once you have made an initial enquiry with them. After looking through these, you may be able to narrow your choice to one or two properties.
LocationOnce you have an idea, you should check out the location of the properties. Take a look around and see what the area has to offer. Is it a pretty location and is it quiet? If the area is aesthetically pleasing, you are likely to be happier living there but do expect house prices to be higher. Types of residents, including youths, will also determine the price and your enjoyment of living in the area. Ask local estate agents for information on prices of similar homes in the area, which will help you to set your maximum price when you go to auction.
What About Your Children?If you have children, the school catchments areas will be of utmost importance to you. It is useful to research all the schools in the area and enquire about the catchment areas. Maybe you could ask some parents already living in the area about what they think of the schools and amenities for the children, such as leisure facilities and parks.
If there is plenty of green open space in your chosen location, there could be the possibility that new building work will take place, especially if the location is sought after. This will be quite an important factor when choosing your home at auction because road works and building works can cause disruptions in your area and it could ruin your views and perhaps even the value of your property. The local council may hold some information on possible planning permission granted in the area so it could be worth investigating that.