Buying a property is a significant step for most people to make in their life, and whether doing it alone, or with someone else, getting value for money is always going to be important. After all, many people who buy a property for the first time, don’t spend the rest of their lives in it, so it’s important to think about how popular it would be should you need to sell it in the future. 

If you’re a first time buyer and want to make sure your investment is a sound one, here are 8 things to avoid when searching for a property, as highlighted by Hartlepool Estate Agents:

  • Fixer uppers

Do-er uppers, fixer uppers, whatever you want to call them, they’re not always a sensible idea for the inexperienced, particularly in times of economic uncertainty and with the cost of construction, materials and labour on the rise. 

  • Poorly insulated properties

Energy prices have risen significantly in the UK, and while purchasing a home with a low Energy Performance Certificate (EPC) might cost you less, you could end up with higher energy bills and face the cost of improving the EPC should you want to make the property more energy efficient. 

  • Leasehold properties

For anyone owning a leasehold property, service charges are likely to rise as a result of inflation, increased staff and power costs and insurance, something which can be avoided by investing in a freehold property. 

  • Bad locations

You might get a bargain when it comes to buying a property above a shop, bar or restaurant, for example, but you may struggle to get a mortgage above a commercial premises, and face difficulties should you want to sell it in the future due to the noise and frequent disturbances which might occur. Also try to avoid homes situated next to a railway, busy road or under a flight path, as both air and noise pollution are big no-no’s for potential buyers with small children. 

  • Over-priced properties

With limited properties available across the UK, some estate agents find it acceptable to push prices past the boundaries of what a property is actually worth, so take care to ensure that the property you buy doesn’t cost more than it should. The best way to know if you’re paying a fair price for a property is to find out how long it’s been on the market, whether there have been other viewings and interest in it, and how does its price fare when compared to similar properties in the area.

  • Characterless properties

Properties that look exactly like every other home in the street, or which have no unique features to distinguish them from other properties of a similar value, could make them difficult to sell in the future, even if the price is affordable for you now. While it is okay to buy a newly constructed home (and they can offer many advantages), try to choose one that has something different and special about it, such as lighting features, views, or its layout. 

  • Poor connections to public transport

While many people do own cars, a lot more families commute to work or school using public transport, and if the train station is a good few miles away, this could deter some potential buyers. When searching for a property with Estate & Letting Agents Hartlepool, try to identify those that are close to public transport connections. 

  • Properties with no outside space

Outdoor space is still something many people want when looking for a new home, and if you buy a property that doesn’t have a garden, let alone a terrace or patio, you could find buyers in the future pass it by in favour of a property that can offer them some outside space. 

Many a fantastic home can be bought on a budget, but the advice is always to be cautious, research your options fully, and consider the property’s future popularity should you need to put it on the market one day.