Navigating the Property Market: Key Warning Signs to Watch Out For

Aspiring homeowners are being urged to exercise caution and vigilance when purchasing a property, as hidden issues could lead to significant financial burdens. Home insurance experts from CompareNI.com have identified ten critical warning signs that a property may be poorly constructed or harbor hidden threats.

The rapid pace of new developments, coupled with subpar installations and a shortage of skilled tradespeople, has resulted in an increasing number of poorly built homes. Older properties, while often charming, come with their own set of challenges, such as damp, mould and subsidence. Key indicators of potential problems include strong odours, small holes and uneven floors.

A recent report predicts that by 2070, over four million UK properties (10% of the national total) will be at high or extreme risk of subsidence. The National House Building Council advises obtaining a structural survey, particularly for homes older than two years and beyond the initial Buildmark cover period.

Thorough research and background checks are essential for any prospective buyer. In August 2024, outdated sewage networks were reported to be delaying new home construction in 23 towns across Northern Ireland. The first-time buyers' market is especially challenging and fast-paced, making it crucial not to rush or overlook initial property checks. The Northern Ireland Quarterly House Price Index report from November 2024 highlighted strong buyer demand against limited supply, driving the average house price to £219,110, a 3.4% quarterly increase and a 5.7% rise compared to Q3 2023.

Ian Wilson, Managing Director and home insurance expert at CompareNI.com, emphasises the importance of caution: "Buying your first house is an exciting experience, but it's vital to stay alert to potential dangers. Investing time and money in research and surveys can help ensure the property is a sensible choice."

Wilson also notes that while most new builds come with a 10-year warranty covering developer-caused issues, buyers must be aware of warning signs before getting caught up in the bidding process. A thorough homebuyers' survey and quality home insurance from day one are crucial for protecting oneself and one's finances.

CompareNI.com has outlined ten warning signs to watch for when considering a new property:

✔ Cracks: Diagonal or jagged cracks, especially around doors and windows, can indicate subsidence.

✔ Odours: Strong smells may signal sewage, dampness, mould, water damage, pest infestations, or chemical contamination.

✔ Japanese Knotweed: This invasive plant can cause severe property devaluation if left untreated.

✔ Crime Mapping: Research local crime rates to gauge neighborhood safety.

✔ Woodworm: Small, rounded holes in wood and dust-like substances can indicate woodworm infestations.

✔ Asbestos: Professional inspections are necessary if asbestos is suspected.

✔ Uneven Floors: These can signal subsidence, structural damage, or poor construction.

✔ Trees: Tree roots can cause subsidence and structural damage.

✔ Windows and Doors: Poorly fitted windows and doors can affect energy efficiency and security.

✔ Flooding: Check an area's flood risk using the gov.uk flood website.

CompareNI.com assists households across Northern Ireland in comparing and finding savings on various everyday bills and essentials, including landlord, renters and home insurance.

By staying informed and vigilant, first-time buyers can navigate the property market more confidently and avoid costly pitfalls.