Five ways to secure the house of your dreams in a competitive property market
You’d have to have been pretty sheltered from the property market over recent months not to have noticed how quickly properties are selling.
Estate agents across the country have been lamenting the lack of stock, as even slightly dubious properties seem to sell in record quick time.
Last month it was reported that a third of home sales in 2021 were subject to a bidding war. Thirty one per cent of properties went for above their asking price – up from 11 per cent a decade ago and 17 per cent in 2019.
And whilst that might be great as a seller, it can make things very hard as a property hunter keen to secure a new home. According to PropertyMark at the end of last year there were 511 house-hunters on the average estate agent’s books – but only 21 homes for sale.
It’s led to some funny reports of the things people were prepared to do to bag their dream property – from adopting the owner’s pet if they were unable to take them with them, attending local church services before they’d moved to the area and even staging accident ‘bumps’ into each other socially.
But what tips are there for would-be homeowners looking to be the one who has their offer accepted on the house of their dreams? As one of the leading moving companies in Leeds, having operated for over 150 years, we have seen plenty of peaks and troughs in the property market! Our advice would be:
- Be prepared to be flexible. The seller might not have found their new home yet and may be tempted to sell to someone who isn’t going to put pressure on them to move immediately. Remember when you’re looking for a removal company, Leeds, that we can also offer storage solutions. Some people prefer to sell their own home and put their stuff in storage while short-term renting or staying with family, so that they can be flexible on completion dates. We can keep your belongings safe for you at our secure storage centre.
- Be organised. Ensure your mortgage offer and solicitor are in place, along with any other paperwork, so you can show you’re serious and ready to go.
- Be friendly. Not all sellers will be interested, but see if they’d be happy to meet face to face for a cup of tea and a chat. A lot of people are very attached to their home and want to think it is going to someone they would approve of.
- Be realistic with your offer. Do your homework and make a sensible first offer. Too low and you risk offending the seller, which may then put you at a disadvantage against other potential buyers.
- Be proactive. There may be people willing to sell who haven’t even put their home on the market. If there’s an area you really love, consider putting a letter through doors enquiring if they’d be interested in a sale. More than 135,000 homeowners sold off-market last year – which basically means without an estate agent. That is a 60 per cent increase on 2019/2020.
If you’re looking for removal companies, West Yorkshire, we can use our decades of experience to help ensure you have a smooth move. We can help with everything from packing to storage, and our friendly team will make things as stress free as possible. For more information, why not get in touch.← The Leeds’ streets we all want to move to in 2022 A guide to Rent to Buy →