Potential Issues When Buying A 3-Bed Home In London
The London home buying journey can have many unexpected moments, twists and turns…
It is not a walk in the park, by any stretch of the imagination!
Some things to think about are:
Finding your next 3-bed home might take a lot longer than you expected it to, especially if there’s low inventory - meaning that there aren’t many properties on the market that match what you’re looking for!
Issues might appear with the 3-bed home that you’re looking to buy when you have a home survey - where an expert inspects and reports back on the condition of the property.
There may be people trying to ‘gazump’ you - offer to pay more money than you are paying for the 3-bed property, even after your offer has been accepted.
Maybe your property is still sitting on the market (it hasn’t received any offers yet) and you need to sell it to buy your next 3-bed home.
You might change your preferences - what you want from your next 3-bed home - after going on a few viewings. For example, you might say that you only want to look at properties with an open plan kitchen, but then change your mind after viewing 10 properties.
“There may be people trying to ‘gazump’ you - offer to pay more money than you are paying for the property, even after your offer has been accepted.”
Buying a home is one of the biggest decisions that you’ll ever make and you need to be mentally prepared for things to not go smoothly… It could be an issue with your mortgage application… It could be an issue with the title deeds of the sellers… Be mentally prepared for it not to go smoothly!
Be prepared for moving day… Get everything ready - at least in the form of a checklist - and contact a moving company as soon as you exchange contracts. Oh, and also take out buildings insurance when you exchange contracts…
Over the course of your 3-bed home purchase (and probable home sale) you’ll come to learn who your true friends are…
Those who support you and what you’re dreaming of accomplishing and those who don’t, will become abundantly clear…
Also, you might have to spend less time over the weekends with your friends when you’re viewing more properties!
This is simply part of life and everyone goes through it at some point when looking to buy a 3-bed home…
Try to also take some time off from home hunting to meet with friends and have a mental break from it all. It’s genuinely important to do that!