What red flags do you need to spot before you buy a home - and how do you find them?
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This is Money Podcast
This episode is titled:
What red flags do you need to spot before you buy a home - and how do you find them?
Notable Quotes
"Don't always trust your instincts in these cases."
"You can't just rely on a surveyor because surveyors, you know, they do a great job, but sometimes they're not perfect."
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Get More InsightsEpisode Summary
In this episode of the This is Money Podcast, the hosts Georgie Frost, Simon Lambert, and Lee Boyce delve into the essential tips for potential homebuyers, particularly focusing on the common mistakes made during property viewings. They mention that on average, buyers spend only 43 minutes looking at a property, which may not be sufficient time to spot important details or issues. The hosts share personal anecdotes about their home-buying experiences, emphasizing the importance of thorough inspection and checklist utilization when visiting properties.
Key red flags that buyers should look for include the condition of windows and doors, heating systems, electrical wiring, and plumbing. Lee Boyce recounts his father-in-law’s advice to thoroughly check properties across different times of the day to assess neighborhood disturbances, while also discussing the importance of having a solid relations with a surveyor.
In the latter part of the episode, the discussion shifts to the current trends in the UK property market regarding landlords. Notably, there's a rising interest in the North and Midlands for buy-to-let properties due to better rental yields compared to the South. The conversation wraps up with an overview of a forthcoming review of cash ISAs, suggesting potential restrictions could be coming, which may prompt changes in how individuals invest their savings.
Key red flags that buyers should look for include the condition of windows and doors, heating systems, electrical wiring, and plumbing. Lee Boyce recounts his father-in-law’s advice to thoroughly check properties across different times of the day to assess neighborhood disturbances, while also discussing the importance of having a solid relations with a surveyor.
In the latter part of the episode, the discussion shifts to the current trends in the UK property market regarding landlords. Notably, there's a rising interest in the North and Midlands for buy-to-let properties due to better rental yields compared to the South. The conversation wraps up with an overview of a forthcoming review of cash ISAs, suggesting potential restrictions could be coming, which may prompt changes in how individuals invest their savings.
Key Takeaways
- Homebuyers should dedicate more time to property viewings and utilize a checklist to identify potential issues.
- The UK's property market is experiencing a migration of landlords from the South to the North and Midlands due to more favorable rental conditions.
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