Should I Buy This Property?

Should I Buy This Property? A Local Expert’s Reality Check (North East Guide)

Buying a property is one of the biggest financial decisions you will ever make. Yet most buyers are expected to decide whether a property is “right” based on online photos, a short description, and a 10–15 minute viewing.

As a local property professional working across the North East, I regularly see buyers commit to properties that look great on paper but turn out to be poor long-term decisions financially, structurally, or strategically.

This guide is designed to help you step back, remove emotion, and apply a proper reality check before making an offer.

Asking price vs real value

One of the most common misunderstandings buyers have is assuming that the asking price reflects true market value.

In reality:

• Asking prices are marketing tools, not valuations

• Sellers often price optimistically

• Properties can sit on the market for months before adjusting

A far better indicator of value is:

• What similar properties have actually sold for

• How long did they take to sell

• whether they were reduced

Two houses on the same street can sell for very different prices depending on layout, condition, parking, and buyer demand.

Red flags that rarely appear online

Online listings are designed to sell a lifestyle, not highlight issues.

Common problems buyers miss include:

• roof condition and drainage

• ageing electrics or heating systems

• flat roofs or poor extensions

• awkward layouts that affect resale

• long-term maintenance costs

These don’t always mean you shouldn’t buy — but they absolutely should affect what you pay.

Thinking beyond today

A property should make sense not just for your life today, but for your future as well.

Ask yourself:

• Would this appeal to another buyer in 3–5 years?

• Is the layout flexible?

• Is it in an area with stable demand?

Even if you plan to stay long-term, life has a tendency to change.

Why independent advice matters

Estate agents represent the seller — that’s their job.

There’s nothing wrong with that, but it means buyers benefit hugely from an independent opinion focused on:

• value

• risk

• resale potential

Sometimes, the smartest money you spend is on avoiding a bad purchase.

How Much Will My Property REALLY Rent For in 2025? (North East Landlord Guide)

One of the biggest mistakes landlords make is relying on optimistic rental figures when deciding whether to let a property.

In the current North East market, setting the wrong rent can lead to:

• long void periods

• Rushed tenant selection

• increased wear and tear

• unnecessary stress

This guide explains how rental values actually work.

Asking rents vs achievable rents

Portals display asking rents, not what properties eventually let for.

True rental value depends on:

• condition and presentation

• layout and size

• EPC rating

• local tenant demand

• competition from similar properties

Overpricing by even £50–£100 per month can cost far more in lost time and reduced tenant quality.

EPC and compliance now matter more than ever

Tenants are more informed and selective.

Properties with:

• poor EPC ratings

• outdated electrics

• unclear compliance

often sit longer or attract lower-quality tenants.

Compliance isn’t just legal protection — it affects demand.

Letting yourself vs management

Many landlords assume self-managing saves money.

In reality, the real cost includes:

• time

• legal risk

• tenant communication

• stress

Sometimes self-management makes sense. Sometimes professional support saves money long-term.

A smarter approach

Before advertising, it’s worth getting a realistic rental assessment based on local data and experience, not headline figures.