The blight and wrongs of buying property. Plenty of advice on what to buy hits the headlines – but tips on what not to buy are rare

by Mark Alexander

15:05 PM, 27th October 2010
About 10 years ago

The blight and wrongs of buying property. Plenty of advice on what to buy hits the headlines – but tips on what not to buy are rare

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The blight and wrongs of buying property. Plenty of advice on what to buy hits the headlines – but tips on what not to buy are rare

Good property investment is about picking the right home that attracts good tenants ready to pay a competitive rent.

Plenty of advice on what to buy hits the headlines – but tips on what not to buy are rare.

Sometimes it’s hard to spot a rough diamond when viewing properties.

Here are a few pointers about other factors than can blight a property value:

  • Unless you are confident with your own abilities, never buy a property without consulting someone who can give professional building advice.That may mean viewing with a builder or paying for a survey, but buying blind can wipe out any profit potential.
  • Always thoroughly check auction properties – if the seller could dispose of the property any other way for more cash, then you have to ask why is the property going for a song?
  • Having transport connections on the doorstep are not always a delight. Most people like sitting in the garden and open windows – but road noise, airport flight paths and the thunder of nearby train lines can be a major turn off.
  • Pubs, clubs, fast food outlets, convenience stores, schools, and industrial estates can cause a lot of out-of-hours noise, antisocial behaviour, and parking problems.It’s a good idea to view a property at a couple of different times, for example daytime and night, to give you a good feel of the area.
  • The seller should point out problems with neighbours and rights of way – but beware buying at an auction. If the property is a repossession, the seller could be a lender who may leave finding these things out to your due diligence.
  • Country life is idyllic for many – but not when you are downwind of a piggery or sewage farm that smell their worst at the height of summer.
  • Finding the right property at the right price in the current market is a challenge for many investors, but with so much cash tied up in an investment, the old adage of ‘buyer beware’ rings truer now than ever before.

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