Due Diligence Before Making an Offer

 

So you like a particular neighbourhood and you’re considering moving there. First impressions are great, but how do you make sure this is the spot for you and your family. Many buyers can become smitten with a property without really investigating the surrounding area.

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Here are a few suggestions to make sure your dream home is actually in your dream neighbourhood too:

 

Developments – It really is important to find out if there are any nearby developments in the pipeline. There could be big changes coming and you may be blissfully unaware of them. A new motorway bypass, a new shopping development, a new car park, there could be many things which could change the feel of an area drastically. Make sure there are not current plans already agreed with the local authority. At least if a new plan is proposed you can be a part of the decision making process. neighbourhood

 

Neighbour Disputes – If you view a property, and surely you will, it is a good idea to try and make contact with a neighbour. Maybe you can view the property several times. If so, try and reach out to others on the street. It’s not uncommon for some neighbours to have long standing disputes, and if you buy a property you may be buying a border or access or parking dispute as well. Make sure you know exactly what your committing to. What are the dimensions of the garden, is there a designated parking space, are there right of way agreements with neighbours or the local authorities. Lack of due diligence in this matter may prove to be a big headache in the future.

 

Through Traffic – There is always the chance that you have viewed a property on a quiet day, or a quiet part of a day. It’s a good idea to snoop around the immediate area and check for potential rush hour traffic diversions. A street can appear to be a tranquil haven of peace at 2pm and transform into a commuter’s nightmare by 4pm.

Also, don’t only check for heavy vehicle traffic. Out of sight nearby attractions might bring a lot of foot traffic past a property that you had no idea about during viewing. Things like nearby stadiums or busy night spots can result in a mass of unwanted passersby at some very ungodly hours.

Take a good look on Google Maps or any any other up-to-date publication and identify areas which might pose a problem. If there are linking roads or walkways go take a look for yourself. Sometimes it’s easy to tell by walking a route if it is well used or not.

 

If a finance provider knows you have done your homework on a property there is every likelihood  they will take your loan application a lot more seriously. Most companies like North Brisbane Home Loans will be eager to talk to potential buyers who have shown a high level of diligence.