So, you’re looking to purchase a property in Hastings.
With a recent rise in property purchases, an idyllic location along the coastline and a new reputation for well built, sturdy houses, Hastings seems to have it all for those looking into the property market at the current time. If you’re considering Hastings as the next step into becoming a homeowner, whether for yourself or as a buy to let investment, make sure to check out our quick buyers guide to a Hastings property.
Your budget is a crucial part of purchasing a property in the Hastings area as it give you a clear indication of what you can afford and what is out of your price range. As of last year, the most popular properties that sold in Hastings in 2014 were terraced houses, which sold for an average of around £170k. Detached houses fetched an average of £275k whereas flats sold for around £110k on average, making the overall average price of Hasting properties around £180k.
Depending on which style of property you are looking for, you certainly want to budget accordingly, and try to look for properties that are around £10k under your maximum budget, as then you have a fairly reasonable cushion on which you can spend on renovations and reparations if necessary.
To Buy or to Rent?
Whether you’re looking to buy a property to live in yourself, or you are looking at properties in Hastings as a buy-to-let investment depends on how you want to go about searching for a property. If you are looking as a home for yourself and your family, it is important to check for local schools, local wireless and internet connections, whether the property has onsite parking or close access to bus stops and the nearest railway station.
Are you looking for a rural home or an urban home? Does it need to be close to any local shops or close to the town centre? Do you need disabled access? All these things are important to consider when looking at properties for your home. However it is also useful to bear in mind these aspects of the property when looking for a buy-to-let investment, as well as the local area in regards to the type of tenant you want to attract.
For example the benefit of having a property close to a railway station may be appealing to a London commuter looking for a tenancy, but less appealing to a young family as tenants as the train station may be loud. Depending on what sort of tenants you want to rent to will depend on the location of your property.
Getting a Detailed Survey
So you’ve had a look at some properties, and you’ve picked a few that you quite like. Now it is important to request a detailed survey from a chartered surveyor in order to ensure everything is right as rain with the property and that there are no hidden defects. If a survey is not conducted and you find any damage to the condition of the property, this could lead to some nasty surprises later on when you come to renovating the property.
A chartered surveyor will conduct a detailed assessment of the entire property, looking at the condition of te property as well as assessing all visible and accessible areas of the property. If they are experienced in local properties, they will also look out for common issues found in Hastings properties, as well as taking note of any damp, rot or mould found within the house. This report is then typed up and given to you including advice as to the potential price range should any repairs be conducted on this property.
The survey is then yours to do with as you wish. The report will help you to potentially bargain for a cheaper property price, if sufficient repairs are required, or if you decide that too much work needs doing, you can decide not to take the proceedings any further and instead look for another property. This is always recommended as then you can be fully informed of the condition of the property before entering into a binding legal contract without knowing the full condition of the property or its defects.
Overall buying a property in Hastings is a lot about research. Make sure to do sufficient research regarding the local area, the nearby schools, the amenities nearby as well as the condition of the property and how the neighbours take to the local environment. Every little bit of information is useful in helping you to find a secure property for investment or as your next home!
Article provided by www.southdownsurveyors.com, a multi-disciplined property surveyor and building consultant based in Eastbourne and serving Bexhill, Hastings and other areas in East Sussex.