It can be difficult to know where to start when looking to buy a home. Buyers need to understand what they need before bidding on a home, how to negotiate, and when to exit. To help those looking to buy a home in 2022, Ross Counsell, Chartered Surveyor and Director of Regulated Home Buyers, GoodMove, offered six top tips.
2. Look for a house at the best time of the year
The real estate market fluctuates throughout the year, with the traditional Christmas period being quieter before the New Years rush in January.
Ross said spring is a good time to look for a home as more and more people are putting their homes on the market.
Less demand and less urgency in the market will ultimately result in lower house prices.
Ross added, “So for anyone looking for a home, March may be a good time to start looking.”
3. Think about mortgages
It’s a good idea to have a principle mortgage before you bid on a home.
A principle mortgage confirms how much your lender is willing to lend you to buy a property.
Having a principle mortgage shows sellers how serious you are as a buyer and can speed up the buying process.
Ross explained, “A principle mortgage also means you know exactly what you can and can’t afford when looking for a suitable property.
“I would also recommend that you work with a mortgage broker throughout the home buying process, to help you and understand which mortgages are best for you. “
4. Look at homes under budget
Home prices are at an all time high and because of this, buyers find themselves paying way too much above the asking price for the homes.
Ross suggested looking for homes under budget so that if you like a property and bid, you can come up with a higher bid that will put you in a good position compared to other buyers.
This can save you money in the long run that you could spend on renovations or new furniture.
5. Make the most of the viewings
Ross said it’s important not to take a home you’re interested in at face value.
It’s easy to get excited and giddy when looking at a home you love, but don’t let the agent’s shiny photos blind your judgment.
Ross said to check “such factors as whether the doors and windows are safe and efficient, whether the current owners have had any disputes with neighbors, whether there is moisture or holes in / on the walls. , are the electrical / plumbing up to standard, and if there are any structural issues.
Taking a checklist with you will make sure you cover all the important points.
6. Be flexible, stay positive, and have patience.
Today’s real estate market is competitive so it can be overwhelming for buyers to lose their dream home.
And, even if you’ve secured your perfect home, things can go wrong during the home buying process.
It’s important to stay positive and remember that there will be other homes that you will love just as much.
Ross said, “Be patient and understand that the home buying process takes time.
“If you are renting, make sure your rental agreement is on a month-to-month rolling contract if possible, so that it doesn’t end before you can move into a property, and if you are selling a house yourself. , choose a completion date that is realistic.
“Being flexible and an easy person to work with is key when buying a home.
“It’s important to make it easier for them as a seller, so consider doing things like letting them choose the closing date if you can afford it.
“If you are in a real estate chain it will be more difficult to do but this is great advice for first time buyers.”
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