‘I worked in real estate for over 30 years – here are six top property tips’

In her 34 years in the field, she’s been able to turn herself into a millionaire.

‘It’s the little missing things that you need to worry about,’ said Lorraine, from Ontario, Canada.

‘Last year, I went and bought 56 investment properties with some partners.

‘Most estate agents sell four homes a year. That’s the industry average.

‘I have personally sold 100 properties a year for decades.’

So, suffice it to say, she’s an expert in buying and selling property, and when she says she’s got a list of tips prospective buyers and sellers need to keep in mind, you should probably pay attention…

The devil really is in the detail

If you notice someone’s cut corners in the decor, be mindful that they may have done so with some more serious parts of the house too.

But don’t get caught up in what are really just matters of taste.

Lorraine said: ‘People will often skip things like a backsplash or tiling near the cooker in the kitchen.

‘If that’s not there, and they put in a brand-new kitchen, I’m going to look a little closer to see what else they have missed out. Look at the woodworking: if you’ve cut corners on that, what did you do behind the wall where I can’t see?

‘If there is carpet, look for water signs. Check the roof, check the windows, check how old the boiler is.

‘Those are the real pitfalls. Those are the areas where if it’s wrong you will end up paying thousands.

‘But people end up getting caught up in what colour the walls are. That’s the cheapest thing to change.’

Leave your feelings at the door

Yes, you’ll ideally love the home you live in – it’s an emotional thing to find the roof that will go over your head for years to come.

But try not to let those emotions cloud your judgement.

‘I have shown people homes which have new windows and a new boiler, but they’re put off because it looks dated,’ Lorraine said.

‘People buy on emotion most of the time. They’re looking for that dream home, instead of looking at it like a practical investment.

‘People end up paying more money because it’s storybook-looking, rather than looking at all the practical stuff.’

Pay attention to where there’s fresh paint

It could just be to freshen the place up ready for a sale, or it could be hiding something like damp – especially in a basement.

Lorraine said: ‘If I see that, I’m going to look for water signs.

‘I’m going to take a flashlight and get down on my stomach under the staircase and see if there’s a water stain line underneath the back of the stairs.’

Don’t let glitz and glam fool you

Fancy-looking work that’s been done to the property can still hide a nasty secret or two.

Lorraine said: ‘I was in one recently that was all done up.

‘It had a fantastic-looking deck, but there was no permit for the decking.

‘It probably cost $15,000 (£8,800) – but as soon as I looked underneath I knew they didn’t get a permit, because it didn’t match the building code.’

Don’t worry about the time of year

Lorraine says it’s a myth that properties only sell well in spring or summer.

She said: ‘There’s less competition if you sell at other times of year.’

However, she does say that viewings later in the evening are a good idea, say at around 8pm. This is because someone who’s willing to visit later is probably seriously interested in the home.

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