7 housebuying mistakes — and the ways to avoid them

House-buying mistakes don’t tend to be original. Property experts see people making the same errors time and again with results that can be anything from disappointing to far more serious.

But there’s no need to repeat these mistakes when you’re buying a house. Learn where others have gone wrong and you can end up with a better buy and keep control of your finances.

We asked property professionals to share the pitfalls they see buyers fall into so you can learn without making the mistakes yourself.

1. Not getting a survey

Buying a house without a survey is not the way to go. “Many buyers mistakenly assume that the mortgage valuation is a survey of the property, when in fact it is used purely to ascertain that the property you are buying represents adequate security for the lender,” says Ben Waites, director at Yorkshire property consultancy Walker Singleton.

Bear in mind that it’s up to you to organise a survey when you’re buying, and it’s important to select the right type of survey. “We would always advise a purchaser to have a full survey undertaken on the property they are purchasing: ideally this should be a homebuyer’s level 1 or 2 report for more modern properties with no obvious signs of defects, or a fuller level 3 building/structural survey for period/listed buildings, or those with evidence of issues such as damp or structural movement,” says Ben.

Ben Waites

Ben Waites has worked in the residential property industry since leaving full-time education. With over 27 years of experience in the West Yorkshire property market, he currently oversees the residential department of Walker Singleton. This including brands WS Residential, specialising in family home sales and property management, and Charnock Bates, a high-end agency specialising in dealing with the sale of exclusive homes, agricultural properties and listed buildings.  

2. Skipping research on the location

It’s vital to focus on the neighbourhood of a house as well as the property itself to avoid regrets.

“Location can be a big source of disappointment,” says Phil Spencer, property expert and founder of the property advice website Move iQ. “For example, that main road that was quiet when you went to view the property at the weekend, but is snarled with noisy traffic every weekday. Or the realisation that your new neighbour plays drums in a rock band and likes to rehearse every night at dinner time.

“The secret to avoiding problems like these is to visit the property at several different times before you buy it to check for noise levels and maybe even practise doing your daily commute,” he advises.

Phil Spencer

Phil Spencer is a presenter, author, businessman and property investor. As co-presenter of the long-running Channel 4 series Location Location Location, he has become one of the best-known faces on British television and is widely regarded as an expert on all things property. Outside of television, he has published three books and founded the property advice site Move iQ.

3. Underestimating costs of improvement

Failing to budget enough for improvements is a trap many fall into.

“The cost of renovations has increased significantly over the past five years, yet buyers often underestimate the cost by approximately 20 to 30 per cent,” says Ben Waites.

“If you have specific plans for the property, particularly plans that include significant remodelling of the existing accommodation, or hard landscaping of outside spaces, we advise obtaining quotes before making a formal offer,” he continues. Take a look at the Homebuilding & Renovating extension cost calculator, too.

“If the costs are higher than initially thought, then purchasers can factor this into their offer, or make their offer conditional upon receiving satisfactory quotes for the works required,” says Ben.

4. Overpaying for a house

It might be your dream home, but paying too much is possible.

“While it’s true that the ‘right’ price for a property is what you feel it’s worth, you need to reach that figure through intelligence as much as impulse,” says Phil Spencer.

“Before making an offer, remember to research carefully what similar properties in the area sold for. This will give you a good baseline from which to judge what’s a fair price. Don’t forget that the seller’s asking price is just that – it’s what they’re asking for, not necessarily what the home is worth.”

5. Failing to plan to extend

Going to build an extension, or even think you might? Investigation before buying is a must.

“If you are planning to extend the property, either straight away or in the future, then it’s useful to research similar extensions on properties nearby or on the same street,” says Ben Waites.

“It’s also worthwhile checking the local authority planning portal for any pending or granted consents that could impact the property you are looking at purchasing.

“Looking on the local planning portal will also provide insight into previously granted consents and provide details of architects who have worked on similar house types/projects who may be able to assist you with your planning application and reduce the likelihood of getting refused.”

6. Inviting moving day problems

Moving in can bring a whole lot of stress if you don’t get things right. “Before choosing a removals company, make sure you vet all the firms you’re considering,” says Phil Spencer. “Check reviews online and above all make sure they have adequate levels of insurance to cover any breakages.

“Think twice about asking your friends or family to help if you’re moving a whole home’s worth of stuff,” he continues. “It’s a huge undertaking and well-meaning amateurs are more likely to damage your furniture or scratch the walls than professionals.

“Don’t forget to check if you need to reserve parking, or request a parking permit, for the removals lorry – both outside your old home and at the new one.

“Make sure you allow plenty of time for the local council to process your request, as asking the removals team to walk around the block with your furniture isn’t really an option.

“If you don’t sort things out before moving day, your movers might insist on waiting until you have done so and you may even end up paying for their extra time,” Phil advises.

7. Viewing a house as an investment, not a home

A house shouldn’t be all about what you can make from it. “In the UK, we often see homes as financial investments,” says Ben Waites.

“While considering a property’s future value is important, your priority should be finding a home that suits your lifestyle and needs at your current stage in life.”

As well as swerving these housebuying errors, be sure to budget for the hidden costs of buying a house. And you might want to pay attention to the best time to buy a house, too, to maximise your buying power.