As the average age of first-time buyers continues to rise – the latest figures suggest this is now 37, so the market is less driven from below, but by a complex combination of personal, local and national factors.
Yet even if you are in your 30’s, buying your first property can seem pretty scary! “Am I making the right decision?”, “Can we really afford this?”, “What if the market falls?”, “Should we have offered less?” are understandable questions.
So here are few tips which we hope will help:
• You don’t have to see everything on the market. The national average is about 6 properties viewed before an offer is made. See enough to educate yourself as to what sort of property is typically available in your price range and ask yourself the question “Could I be happy here?”
• If you like a property, you can be sure that everybody else will as well! This is especially true of well-priced properties which are new on the market. So if you see something that seems right, go for it before someone else does.
• Get your mortgage agreed in principle. This puts you in a much stronger buying position.
• For the sake of what is often a relatively small amount of money, it is usually worth making an offer at or close to the asking price. This demonstrates commitment to the vendor and it’s just not worth losing the right home to someone else.
• Don’t quibble over minor points. Be flexible over fixtures and fittings and completion dates,
• Be nice to the vendor – if they like you they are more likely to accept your offer.
Homeownership is exciting and your new home is likely to provide you with long term security, comfort and stability. Enjoy!