If you’re a buyer, you’ll be delighted that the mood of the market and prices have swung in your favor, especially if you appreciate mortgage costs will probably reverse in the medium term.
For those who are confident about their financial position, this may be a good time to either enter the market for the first time or move up the property ladder.
But, as a buyer, it’s a good idea to know that today’s market doesn’t mean every property is available to you at a bargain price.
You still need to be on your game, this is not a time for sloppy thinking. Otherwise, it’s highly likely that you will lose the property you love.
Here’s my top 5 checklist to keep in mind during your current property search:
Winter is quiet
Yes, it is. And no it’s not. Mistake No.1 is to believe no one else is interested in the property you’ve targeted. The truth is, winter is a time when deals are made quickly. Folks want to move in before the holidays and begin afresh in the New Year.
Sharp skills
Most owners are not selling their properties for a huge discount. They’re holding their line but are prepared to talk. Don’t fall into the trap of thinking everything comes with a sales tag. Make sure you partner up with an agent with sharp negotiation skills so you win your dream home.
Loan lament
If you’re a serious buyer, you’ll always have a pre-approved loan in your back pocket. It means that when you see an opportunity, you can go for it. So fix up a loan agreement.
Debt for dummies
Don’t spend money needlessly, buy on credit or get into any additional debt if you’re intending to purchase. It all counts against you when your lender assesses how much it’ll allow you to borrow. That new car and fancy Paris holiday must wait.
Be flexible
Winter weather and the holiday season can mess with family diaries. If you find a property you love, then consider an extended closure date. It’ll be worth the wait.