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How To Beat The Rising Cost of Property

It may sound like a load of old rubbish when we see estate agents claiming that property in some areas is selling in a few days and sometimes in a few hours but anybody whose been house hunting will tell you that there are just some property hotspots where the best house can go in the blink of an eye and that dream property that you saw this morning has already got an offer on it by the afternoon so without getting into a property bidding war with another buyer what options do you have to make sure that you get the property you want at the price you want.

Be prepared

Just like the scouts you need to be prepared and do your homework if you want to beat the property market this means that you need to sort out a few things before you start hitting the estate agents.

What type of property are you looking for?

Do you want a luxury apartment, a family home, a new build or a period property or perhaps you don’t know. If you’re going to stand a chance of getting the type of property you want then you have to narrow the field its no good looking at large period family homes if what you really want is a modern single living apartment. So make a list of the requirements you can’t live without and the ones that would just be the icing on the cake but you could live without.

What area do you want to live in?

It’s no good knowing what type of home you want if you don’t have an area in mind remember location is everything in property so get to know the area you’d like to live in drive around at different times sometimes an area that seems quiet during the day can look awfully different after dark so find out before you buy rather than make an expensive mistake and find out after you’ve bought it. Talk to your would be neighbours if you can, do you like them? What can they tell you about the neighbourhood? Remember you may have to live next door to them for a long time so its best to find out now if you they have a gang of wild kids running amok or a pack of dogs who like nothing more than to bark all night so do your research now rather than later.

What type of budget do you have?

Its important to have a clear idea what you can afford this means knowing both what your basic budget is and what the top end of your budget is this means in a fast moving market you won’t commit to more than you can afford.

Do you have your mortgage arranged?

Getting your mortgage arranged before you go house hunting can put you well ahead of the competition especially if the seller wants a quick sale because they’ve got a property they’d like to move on it could make your offer more attractive if you’re ready to move on a property and move quickly.

Do you know the market?

To make sure you don’t pay over the odds for the property you want you need to have a good idea of the cost of the type of property in the market. This means doing your research check out the local property papers and estate agents and even use the internet to know what the range of prices there are. Often in a hot property market some buyers will try to ask for more than a property is worth so its good to know what else is out there for the same budget this puts you in the a good strong position to make a realistic offer and ensure you don’t pay over the odds.

Once you’ve got everything organised its time to go after your dream property

If you sort everything out before you commit to making an offer then you’ll soon be able to not just find the property of your dreams but make sure it doesn’t cost you the earth.