A useful purchase checklist records the evidence behind a decision. It should reveal what is unknown, not turn a collection of optimistic estimates into a guaranteed return.
Define the proposed use
Write down the intended letting arrangement, likely occupants and management approach. Check whether the actual property suits that use before comparing headline prices.
Test the figures
Keep asking prices separate from completed-sale evidence. Support the rent estimate with comparable homes and record when the evidence was gathered. Include acquisition costs, finance, maintenance, management and periods without income in the budget. A gross yield leaves important costs out.
Investigate the property
Obtain appropriate condition and legal checks. Ask the relevant professionals to explain restrictions, unresolved issues and costs that could change the proposal. Do not treat an attractive advertisement as confirmation that a particular use is permitted.
Record the downside
Model less favourable rent, repair and financing assumptions. Consider what would happen if a planned sale or refinancing were delayed. Label these as scenarios rather than predictions. Keep outstanding questions visible and resolve material gaps before committing. No checklist removes investment risk; its purpose is to make the decision and its limitations explicit.
Editorial review: 15 October 2026. This original Property Perpetuity guide replaces the imported text; the original archive publication date is retained.