How to be successful buying your ideal home now in a crowded market
The property market is squeezed. Demand continues to be high and supply is just not there. Availability is low to due many factors including:
- Owners not listing properties as they can’t see anything that they like for onward purchase
- Property price inflation
- Rise in off-market sales
- Lack of job security
Chiltern Relocation’s top tips for a successful purchase when demand is high
Know what you want
We always advise clients to have two lists at the start of their search. A list of ‘must have’ and a list of ‘would like to have’. This way your home search will be more targeted and you know where you are willing to compromise.
The ‘must have’ list needs to include: number of bedrooms, bathrooms, reception rooms, if you want a garage, how big a garden would you like etc. Will you be working from home? Do you need a study or maybe two? Would a garden room be an option for a home office? Does the kitchen need to be at the back of the house or have doors to the garden?
Your ‘would like to have’ list it might include features such as a south facing garden, an extra en-suite, space for a treadmill/gym, a carriage driveway, a dressing room.
By being clear at the outset you will understand what is essential for your move and where compromises can be made.
Research your chosen area
If you need to be within a certain school catchment, check the map carefully. In terms of location which roads are the sought-after and which ones should you avoid? Check proximity to major road links and the possibility of airplane noise? Where are the local shops and pubs? What local social amenities are on offer? Chiltern Relocation offers Free Area Guides online with detailed information about a wide range of towns and villages in Bucks, Berks, Oxfordshire and Hertfordshire.
Have your finances in place
You can get ahead of the game by having mortgage offer ready or if you are a cash buyer then you need proof of available funds. There is a lot that can be done in advance which will make you a very attractive buyer financially.
Meet a solicitor
Get in touch with a lawyer and put in place all the necessary paperwork meaning you can hit the ground running. You will need to undergo ID checks and put money on account for money laundering reasons so if you can get this done in advance you will save a lot of time.
Meet the local estate agents
Now, more than ever, it is vital to meet and connect with the local agents. So far in 2022, one in ten properties has been sold off market with this figure rising to nearly a quarter in London and prime areas. If you are not known to the agents you will not be receiving the call to view an off-market potential. Also ask to be put on their mailing list, new properties go to the mailing list first then to the property search engines.
Keep an open mind
There is always a compromise to be had when searching for your ideal home. Know what you want but be sure to keep an open mind to possibilities. On our Viewing Days at Chiltern Relocation, we listen very closely to our client’s wish list but we also think outside the box too and present a number of options that we know will work but that our clients might not have initially considered. These options result in being the chosen properties or they give vital perspective to the search which is invaluable.
