Maybe you’re moving out of your family home for the first time, moving in with friends after university, or finally moving in with your significant other. Whatever it is, buying a home for the first time is one of the most important, exciting, and daunting experiences of an adult’s life.
There are so many things you need to consider, and one thing you should NOT overlook is the electrics of the property.
Your home is where you will spend the most time, ensuring it is safe should be your top priority. Structural integrity, damp and leaks are all important to consider but we believe electrical safety is of utmost importance when looking for a home.
We’re telling you this because we care! Forgetting to check the electrics can lead to expensive fixes and can pose a danger to you and your family.
Did you know that there were almost 2.5 million house buys in the UK in 2014-2015? How about that only 37% of these buyers had electrical checks performed before buying? Does that figure scare you as much as it scares us?
The team at NSI have put together this article of top tips to assist first-time buyers on their journey. Not only do we cover electrics, but other things that you may need to consider when purchasing your first property.
Keep reading to find out our top tips to keep yourself safe and save on unnecessary expenses. Everyone likes to save money, right?
Make Sure You Can Afford It
First things first, before you buy your first home, you need to make sure you can afford it.
You need to be able to afford a deposit of 5%-20% of the property price, and the more you put down the better, as you’ll get a better rate on your mortgage.
Also, you must consider other expenses that may take you by surprise. Work that may need doing to the property, moving expenses and unexpected bills need to be considered into your monetary expenses.
Expenses don’t always have to be bad; you also should remember the money for new furniture and decorations, the things that make a house a home!
Budget!
As a first-time buyer, there are lots of additional costs that you may not be aware of such as legal fees, stamp duty, surveys, and other technical reports such as an Electrical Installation Condition Report.
Don’t panic! NSI are very cost effective, we can promise you that an Electrical Installation Condition Report from us won’t break the bank!
Did you know that overall, the closing costs are usually 2 to 5 percent of the value of your house? Crazy right? Make sure that you’re not taken by surprise by all these hidden costs and budget yourself.
Remember, any money you budget and don’t use can go towards extra items for your new home. I mean, have you seen the price of furniture and carpets these days?! Thank us later.
View Properties
Next, you need to view properties to make sure the property is right for you.
Not only is it fun to view properties (well we think it is anyway), but it also gives you the chance to notice any damage, deterioration, or other key factors in the house.
We suggest you look out for key factors such as: Damp, Neighbourhood, Room Size, Electrics, Garden, Security, Leaks, Parking, Noise, Cracks in the walls or ceilings, and the general property condition.
Ensure that the property not only is liveable but that you would enjoy living there. After all, this is going to be your home for the next however many years!
This also goes the other way; a property may seem perfect but if there are underlying problems it can be expensive and disappointing in the long run.
Ask to See the Electrical Certificate (EICR)
Here at NSI, we would recommend having an Electrical Installation Condition Report (EICR). An EICR is an inspection that checks switches, sockets, wiring and ensures that any and all power sources comply with current safety standards.
So the one simple task we MUST ask you to do is to ask to see an electrical certificate. I know it might be daunting, but it’s worth it! Did you know that Around 4 people a day are injured or killed in fires related to electrical faults, according to government statistics?
If you are able to see an electrical certificate, then you should have the certificate checked by a qualified electrician to ensure it is up to date and correct.
If they are unable to provide an electrical certificate then we would recommend having a qualified electrician to perform an EICR on your prospective property.
Tip: If you need an EICR, perform this before agreeing on a purchase price. This means if the property requires rewiring or updating it can be taken into account for the overall price.
Click here if you want to book in for an EICR now!
DON’T Rely on a Home Buyers Survey
A Home Buyers Survey is not performed by a qualified electrician and is ONLY a visual survey, usually only consisting of tick boxes and short notes.
Home buyers’ surveys are NOT sufficient to prove electrical safety and can lead to hazards being left undiscovered.
You are not alone if you believed a home buyers survey contained this information. One in five buyers believed that electrical checks were included in the home survey.
If you are looking to buy a new home, all of our electricians are qualified and trained to perform high-quality EICR’s. Click here to book in for an EICR now.