This is not an exhaustive or a complete subject. It is likely to change over time, with edits, additions and deletions, and is simply a collection of my thoughts based on many years of experience. You should follow your instincts, and you must always seek your own professional advice.
This Blog is based upon a presentation that I did for a residential property conference in December 2023.
There is a distinct difference between maintaining a property to keep it in good condition, and one that has been deliberately ‘restored’, usually including an extension or roof conversion. There are many of these properties for sale and they are often aimed by property developers at the first or second time buyer market. This sector will be more likely to be heavily mortgaged and more eager to get into a property based upon excitement and need but also with lack of experience and clarity of thought.
It is in the situation when a buyer can be encouraged by the clean lines, the new carpets, neutral paintwork and the promise that the building has been ‘lovingly restored’, recently ‘fully refurbished’ and other variations on the theme. This can sound very good and it can sound like an easy purchase.
In these days where ‘retrofit’ has become part of normal conversation, there is a lesson to be learned from the failures of such schemes. Beware.
You cannot see what is behind the paint, behind the new plaster and under the new floor finishes. These buildings are sold on looks and not on the quality of the work done. You will be entirely relying on the trust and honesty of the person selling the property as even an experienced and diligent building surveyor will not be able to see through walls or under floors.
Do not be fooled. Use your common sense and instinct.
Disclaimer: Anything posted in this Blog is for general information only and it is not in any way intended to provide any advice, legal or otherwise, on any general or specific matter that you can rely on. You should always seek your own legal and surveying advice.