Are you looking to purchase a new property?
While buying a new home is an exciting time, it can also be fraught with stress and frustration. Fortunately, you can easily eliminate much of this unnecessary worry by avoiding the most common property purchasing pitfalls. Discover the top five ones below. Remember forewarned is forearmed!
When you see your dream home for the first time you are unlikely to be thinking about what could change in the future. However, both planned and potential developments could completely ruin the perfect property for you and your family.
Just imagine if in two years’ time a huge development of apartments were built right in the pretty field by your home. If this was the only reason you bought a home in the area, you would probably be pretty angry – which is why you must make sure you look into any potential developments before you sign on the dotted line.
It can become all too easy to get carried away when looking for a new home and forget that you need to work out what you can realistically afford to repay each month.
Many people focus solely on the purchase price and required deposit of a property and forget that there are lots of other fees and charges that need to be paid along the way.
Solicitor fees, stamp duty, surveys and removals all needed to be factored into your overall budget.
Before you agree to buy a property, you need to make sure that you find out about any restrictions that could affect your future plans for your home.
While you may not want to extend your new property right now, you may want to in a few years’ time so you need to ensure you know what you can and can’t do.
It is worth noting that even freehold properties can have restrictions, so always ask your solicitor to look into this for you before you commit to a property.
The property market is constantly changing in the UK, which can affect your success in purchasing a property. For example, if you do not know the current market conditions, then you could overpay for a property or not offer enough to be accepted.
Take the time to research properties in the area and see how much they have sold for so that you can have the best chance of success when you make an offer on a house.
While you don’t want to make an offer that is too low, especially if you really want the house in question, there is nothing wrong with trying to negotiate the price.
As mentioned above, if you have done your research on similar properties in the area and you feel that the asking price is too high, then feel free to haggle a little or ask your estate agent to do this for you.
Remember, if you don’t ask, you don’t get.
Navigate the complexities of buying a property with Yuno Compliance Solutions. Our platform guides you through avoiding common pitfalls, ensuring a smoother, stress-free purchase. From understanding market conditions to handling legal requirements, Yuno has you covered.
With over 15 years immersed in the property sector, Paul’s expertise is unparalleled. From his beginnings as a developer in Chelsea to pioneering the innovative Yuno property compliance model, his journey showcases a deep understanding of the industry’s intricacies.
Having been a slave to the beast of responsibility & liability, Paul decided to partner with property legal professionals & experts to create a platform that would empower all with the knowledge and means to set themselves free once and for all. With Yuno, you’re not just complying; you’re thriving.
With his Chartered Accountant background and extensive experience in corporate finance, private equity, and real estate, Steve plays a pivotal role as our Financial Director and Advisor. His financial acumen is invaluable in shaping Yuno’s financial strategies and ensuring sound financial governance.
With over 25 years of experience, Steve’s insights and guidance are instrumental in driving Yuno’s financial success.
With over 15 years of professional experience spanning diverse sectors, from law enforcement to fintech, Russell brings a wealth of knowledge to our team.
In 2016, Russell’s entrepreneurial spirit led him to raise an impressive $8 million for the establishment of Paymenta, a cutting-edge platform specializing in foreign exchange and remittances.
Russell is a proud graduate of Oxford, where he earned his PGDip in Software and System Security. His expertise and passion for technology make him an invaluable asset to Yuno, ensuring our platform remains at the forefront of innovation.
Lori brings over two decades of expertise in estate agency and the private rental sector to the Yuno team.
As a valued advisor, Lori plays a crucial role in shaping Yuno’s compliance solutions, ensuring they meet the needs of our clients in an ever-evolving industry. Her wealth of knowledge and commitment to excellence make her an integral part of our mission to simplify compliance in property management.
David’s legal prowess in property litigation, property regulation, and data protection is unparalleled. His extensive experience, especially in matters concerning residential tenancies and agencies, makes him an invaluable asset to Yuno.
With a keen eye for new legislation and obligations, David excels in advising and litigating complex property issues. He has a knack for finding innovative solutions within existing laws to tackle unique client challenges.
With a proven track record of nurturing businesses and an in-depth understanding of consumer behaviour in relation to property, Kate is a true industry figure. Her insights and expertise are invaluable to Yuno’s mission.
Kate’s dedication to improving the property industry aligns perfectly with our goals, and her guidance helps us continually evolve to meet the needs of property professionals and consumers alike.
