We have previously covered a few general tips for viewing resale properties. In this article, we will touch on the assessment of the area and infrastructure.
When inspecting a resale property (or any other property), you should first check its location, as well as the general condition of the area and neighboring houses.
Location is perhaps the most important factor to consider. “location, location, location” is not only Channel 4’s prime time real estate program, but it’s also a common real estate mantra. “Good location” means different things to different people. It all depends on your personal needs and preferences. Here are some factors to consider:
Visit the area at different times of the day to familiarize yourself with the general environment and see what local amenities are on offer.
- Is it a noisy area?
- Are there livestock and farms nearby?
- Could smell be a problem?
- What is the condition of the neighboring houses?
- Are there industrial activities or construction activities nearby that may cause inconvenience?
- Is there land nearby on which something can be built later?
- How close are local amenities such as shops, doctors, dentists, etc.?
- Is there public transport nearby?
- Are the local roads good and what are the local traffic conditions (peak and off-peak hours)?
If you are looking for a permanent home, limit your search to resale properties in residential areas. Real estate in tourist areas is usually bought as a holiday home or investment.Such properties are rented out for vacations and are often empty outside of the main tourist season. You may not have permanent neighbors, and tourists can be noisy.
Take the time to look around the area before deciding where to buy. Don’t get carried away by the romance of this place; buy with your head, not with your heart.
Think long term. You may be fit and active now, but may not be able to manage a large household, climb many steps, go to shops/hospital, etc. as the years go by. Remember the proverb: “Buy in haste, and repent at your leisure.”