The Dos and Don'ts of Making an Offer on a House

28th December 2022

The Dos and Don'ts of Making an Offer on a House

When you find the house you know will be the one you live in, you’ll want to make an offer as quickly as possible. However, you don’t want to miss out on making the right offer and end up going over budget or worse, losing your dream home altogether! To ensure you have the best offer possible, keep these dos and don’ts of making an offer on a house in mind.

Get the property surveyed by an expert

Make sure a professional walks through the house to make sure that there are no surprises. It's important to note that walking through the house is more than just looking at walls. You need someone who can inspect appliances, plumbing, electrical systems, windows, floors, insulation, heating/cooling systems and anything else that may affect your decision to buy the property.

Know what you can afford

It's important to know what you can afford before making an offer. Your mortgage payment should not exceed 28% of your monthly income, It's also smart to have at least 20% down so that you're putting less money at risk in case the housing market takes a hit. Keep in mind that it could take three months or more to close on a house once you submit your offer.

Decide how much you're willing to spend

You will need to decide how much you are willing to spend. However, keep in mind that the most expensive house does not always mean it is the best one for you. You may want to ask yourself some questions such as, Is the house worth it? or Will this house suit my needs? before making your decision.


Do your research Before making an offer, make sure you know what the current market value for that type of property is in your area. It might be wise to consult with experts who are familiar with the local market, such as an estate agent. You should also look at homes that have recently sold in the same area to get a sense of what homes are going for right now.

Get your financing in place before making an offer

Getting your financing lined up before you make an offer on a house is the first step. You can't get pre-approved for a mortgage without knowing what your budget is, so you need to have this information in order before you start looking. 

Here are some things to think about: How much do you want to spend? What type of mortgage do you want? Are there specific features that are must-haves for your next home? 

Avoid common mistakes in home buying

1. If you're in the market for an investment property, don't buy anything less than three bedrooms. 
2. Always put down 20% of the purchase price upfront to show the seller you are serious about your offer. 
3. Always make sure to have your loan pre-approved before making an offer so the seller knows you will be able to purchase the home.

I hope this helps!

I am a local property expert, offering my services in Forest Gate, Highams Park & Chingford, Leyton, Tottenham, Hackney, Walthamstow, East Ham, Plaistow and surrounding areas.