4 Telltale Signs You’re Being Ripped Off Buying A House
It's far too easy for someone to be ripped off when buying a house. Whether it's a new-build or an older property, estate agents and builders can sell you a dream. It seems like you're getting a beautiful new home, but the reality is you've spent loads of money on something that doesn't live up to its billing.
There are so many complexities when buying a house; it's no wonder people get ripped off all the time! Hopefully, this short guide will let you identify the telltale signs that you're being played.
A higher than average asking price
The first sign is straightforward: check the asking price in comparison to other properties in the area. Are you being proposed a price that's way above average? If so, it's a sign someone is trying to rip you off in the hope that you haven't seen what houses sell for in this area. Do your research, don't let them swindle you like this!
No viewings in bad weather
In general, it's always recommended that you view a house in good and bad weather. Obviously, this might not be possible if the weather is always sunny and you're buying a home in the middle of summer. However, if it rains, try to book a house viewing. If the estate agents keep denying you, it's a good sign there's something to hide. Usually, it means there are problems with leaks in the home that they're trying to cover up. Seeing a house in lousy weather gives you a better look at how structurally sound it is.
No add-ons or inclusions
This is specific to new-builds as you expect to see some home inclusions when making your purchase. These are little extras that property developers throw in to sweeten the deal. Two examples of standard home inclusions are a designer bathroom and a fully-equipped kitchen. You get all of the kitchen appliances thrown in when buying the house, along with a bathroom that has a shower, sink, and all the trimmings. If you don't get these extras/inclusions, the house is a bit of a rip-off. You end up needing to pay to install these yourself. Or, even worse, they charge you an extra fee to add them to the property. Don't fall for this trap; any home builders worth their salt will provide a list of quality inclusions.
No info on building materials
You can apply this to new and old homes, but it's more of an issue with new ones. You need to know what materials were used when constructing the house. If the builders are sketchy on the details, it basically means they used cheap materials that don't last long. As a result, you overpay for a house that deteriorates quickly and requires loads of constant repairs and maintenance.
It's so easy to get played by a property company that's looking to offload a house for as much money as possible. If you don't know what to look for, you will get ripped off and lose a lot of money. Hopefully, this guide has opened your eyes to the critical telltale signs.
