You’ve been searching for your dream luxury property. You’ve found one that looks perfect, and meets your high standards. You’ve arranged a viewing. But how do you make sure your viewing reveals all the information you need? One of our best house viewing tips is to plan, then ask the right questions. Below we have the top five questions to ask when viewing a house in the luxury property market.
A slow property sale can sometimes be the result of external features such as a sluggish market or even the time of year. However if a property has been on the market for more than six months, it’s worth talking to your estate agent, and perhaps the vendor to find out why.
Fluctuating markets, such as those seen during the coronavirus pandemic, can have an influence on the time it takes to sell a property but if a property hasn’t been selling, it’s important to consider other possible implications as well. For example there might be underlying issues with the property or its location. This is where asking the right house viewing questions can really pay off. Understanding the situation in more detail will allow you to weigh up the pros and cons of your prospective purchase.
This key house-viewing question will help you understand what you’ll be taking on if you choose to purchase the property. This might depend on your future plans. For example, if a quick onward sale is a key decision-making factor, a property that is taking a bit longer to sell might not be the right one for you.
When you’re buying a luxury property, you naturally want to understand exactly what it is that makes the one you’re viewing so special. This is important not only for your own satisfaction, but also when it comes to potential rental income or resale value.
By the time of your viewing, you’ll already know what attracted you to the property but understanding the perspectives of other people, especially those who have lived in a home, will help you with your decision making process. If you’re wondering what to ask when viewing a house, we recommend you give this desirability question top priority because it can often throw up unexpected answers.
For example, you might not have registered from your own observations that the full height reception area window gives fantastic winter sun, that the trees in the garden cut out any noise from the street, or even that the snug offers a cool haven on a hot summer day.
Once you’ve got answers as to the desirability of your potential purchase, you will be in the perfect position to throw in that all-important house-viewing question, ‘So what made you decide to move?’
We all know the old adage, ‘Location, location, location’ but the subtle nuances of position and setting are particular important in the luxury property market. Even in the best of areas, by choosing the wrong street, you may limit your resale and rental potential. It may get more detailed than that. In some areas, choosing the wrong side of the right street can make a difference. Viewing a property gives you the perfect opportunity, not only to observe a location but also to ask questions about it.
In the world of luxury property, desirability comes down to detailed local knowledge. For example, the best schools, ease of travel, amount of peace and quiet, and even degree of community spirit are all really important factors that are difficult to detect from a viewing alone. When you ask your estate agent, vendor, and even local community members their opinions on what makes a property desirable, you give yourself access to a depth of crucial local understanding.
Another desirability question to put on your house-viewing checklist is whether or not the property you’re viewing is in a conservation area, or has listed building designation. Buying a listed building or purchasing inside a conservation area can be a real plus when it comes to the character, and kerb appeal of your property. However it’s important, before you proceed with a purchase, to understand any limitations this type of status might put on your improvement plans.
It goes without saying that a luxury property should have great design features, and rock-solid construction. With new homes this is relatively easy to investigate but if you are viewing an older property, questions around structure and design need to be high on your list of questions to ask when viewing a house.
With a newer property, try to find out as much as you can about both the architects who designed the home, and the construction specialists who built it. Architects who have worked on other well-known projects can be particularly popular, especially when it comes to resale value.
If you’re viewing an older or period luxury property, there’s a high chance it has, at some stage, undergone significant improvement. Again it can pay to find out as much about these improvements as possible. This is where a bit of understanding and research can really pay dividends. Knowing that a trusted local specialist has carried out building works will set your mind at rest. This type of information can also be an additional selling point when it’s time to move on.
As well as making sure a property ticks all the boxes on your aesthetics, lifestyle and location lists, it’s really important to make a point of understanding its potential as a financial investment. Luxury properties don’t just cost money; they can make it in considerable amounts as well.
You need to take some time to investigate the rental value of the property in question, and you should also make sure you understand the rental market across that particular area. Your estate agent, with their detailed local knowledge, will be in a good position to help you with this. Rental trends change with time but properties that are currently renting well include those with plenty of space, great indoor outdoor flow, high specification finishes, and easy access to some of London’s favourite green spaces.
When it comes to resale value, it pays to understand everything there is to know about potential future developments in the area. Developments can offer both threat and opportunity. For example, a planned state-of-the-art luxury apartment block will alter the look of an area, perhaps to the detriment of the property you’re viewing but it also has considerable potential to attract investment in local café culture and transport links.
When it comes to luxury house viewing tips, there’s one really important thing to remember about the investment potential of your prospective property. You might not put high importance on local schools, transport links, green space, and entertainment options but they could be vital factors for the next buyer or renter who comes along. If you’re thinking about future desirability and profit, it pays to tick as many boxes as possible on the house-viewing checklist.
If you’re thinking about questions to ask when viewing a house, try to keep future buyers in mind. You shouldn’t be afraid to ask direct questions but your property viewing will also give you the opportunity to be clever with an indirect and subtler approach. At Arlington Residential we have an up to date understanding of the nuances of the Central and North West London luxury property market. We offer a specialist personalised service, and our knowledgeable team will be happy to answer all of your questions. Get in touch today for expert professional advice on luxury property rentals and sales.
IF YOU WOULD LIKE TO SPEAK TO OUR TEAM ABOUT HOW WE CAN HELP YOU WITH YOUR PROPERTY SALES, RENTALS OR INVESTMENTS
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