5 Things to Check before Buying a House

Good neighbours are a godsend, but how much can a bad neighbour cost you?

1. Bad Neighbours

Many people forget that buying a new home also means getting new neighbors. If these new neighbors happen to be inconsiderate, rude and obnoxious, you could find yourself in a miserable living situation.

To avoid moving next door to the neighbours from hell it would be wise to spend a little time in the neighbourhood. Speak to the neighbours, if possible and look for any other FOR SALE signs in the street.

2. Check mobile and broadband coverage

Most of us would be lost without reliable access to our mobiles, computers and other devices yet there are still plenty of neighbourhoods across the country where access is limited, patchy or slow. With more and more people working from home, poor coverage could potentially be a deal-breaker.

You’ll need to find out if NBN has been implemented in the street and if not, you’ll need to investigate other internet connectivity options such as via cable, ADSL and mobile broadband.

It’s also a good idea to test your mobile reception in different parts of the property as coverage can vary considerably between providers or you may find yourself in a mobile blackspot with no coverage at all.

3. Nearby Water

That creek to the rear of the property might look picturesque now, but it won’t when it comes cascading through your back door.

The increasing unpredictability of weather means that it’s vital to consider the possibility of flooding. You many be unable to insure the house against flood risk, which can create giant damage bills on a regular basis.

4. Getting home loan pre-approval

Otherwise known as conditional approval or approval in principle, securing pre-approval before even searching for your home is ideal so you can know your price range. By providing your bank or lender with your financial details - such as your credit report, savings, income and investments - they will be able to review the information and grant you with pre-approval to borrow up to a certain amount.

5. Checking that building work or renovations to the property are compliant

The vendor is responsible for disclosing any building work conducted on the property in the

Protect yourself from sellers like Matt & get title insurance

previous 7 years together with all permits, final inspections/occupancy permits and, in the case of an owner builder, builder's warranty insurance and a defect report. But just as things aren’t always done to the letter, vendor's are not always totally honest about what’s been changed or how.

That’s why buyers need to check any and all past permits to make sure that the work was done and signed off. If you see a newer bathroom or bonus room or kitchen, and there is no permit on record, that's a huge red flag and cause for concern because once you own the property, and you go to do any work yourself in the future or apply for a permit and Council become aware work was done without a permit, you will be responsible for it.

If the building works were done on the cheap, improperly, or not to code, you will be responsible for the costs of tearing it out and starting all over again. If in any doubt, Title Insurance is your safest bet to protect your from illegal building works or structures. You will need to instruct your conveyancer or solicitor to obtain this for you during the settlement process.

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