How to avoid buying the wrong property From noisy neighbours to botched DIY – Phil Spencer advises what to look out for when in the market for your dream home

flats, not conversions, are properly proportioned. I am also a fan of ex-local authority housing, much of it built in the 1960s. They make great flats: they rent incredibly well, are usually structurally sound and well located. Admittedly they don’t look pretty, but they are purpose built, so they work. Ex-local authority homes may have a slight discount in terms of cost per square foot in comparison with other properties, but then you should also accept that you are likely to sell at a discount.

Similarly I am a huge fan of the houses in industrial towns such as Sheffield, Leeds or Manchester. These areas used to be wealthy centres of trade and the merchants built themselves gorgeous houses with great architecture. Port towns are also good examples, including Liverpool, Southampton and Plymouth. As markets and the world changed, some of these places went through hard times, but there is no doubt the bones of these properties are good. Always look for good bones. Nearly anything you buy will need upgrading in some way within a few years, but you will rarely go wrong with quality architecture.

When these Victorian and Edwardian streets were constructed, it tended to be one person who built a street. And the builder tended to keep a house for themselves; if you can identify their property, you will usually find it some foot or two wider than the rest. They are very difficult to spot from the outside, but keep an eye out as the extra space really makes a difference.

Less exciting but definitely worth looking at is whether a property has parking. I believe that parking is only going to get hotter as a property commodity over time. The cost of a parking space is going to rise quicker than the cost of housing over time. Even if you don’t drive it is a handy selling point and you can even rent the space out online and make some extra cash. I would even consider applying to your local council to have the curb outside your house dropped so you can park a car if there is enough space.

Finally, and this applies regardless of what type of property you are buying, check the DIY. If I see that there are easy and cheap fixes, it immediately makes me suspicious. If I can see those errors, what about the expensive bits that I can’t see? You never know what might be lurking in the plumbing, the electrics and the roof. Those are the things that you end up sinking your money into.

Don’t be put off if there are tweaks that look unfinished. But you do need to be confident that foundational work has been done properly. Be sure that the house’s bones are good.