The property market is fierce with the competition. As more homeowners hunt for larger properties, it has led to increased prices. If it was difficult to get a property before, it certainly is now. In recent years, the average price for detached homes was reported to have increased by more than £60,000.
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Finding your dream home can be a mission. There will be moments where it feels like you are making progress, only to fall short at the last hurdle. Unexpected issues can arise, such as the seller pulling their house off the market. These moments can be disheartening, especially when searching for their dream home.
Are you on the search for your dream home? Patience is a virtue needed when you begin searching for your dream home, and here’s why.
Finding your dream home: Reduced asking price
When looking for a property, finding your dream home when it hits the market is less ideal than initially thought. A property that has just entered the market will likely have a seller who will not negotiate on the asking price. The asking price they set is often too high. Regardless, it will be something that the seller will not change for a few weeks, even months, of their property is on the market.
If you find your dream property but notice it is priced too high for its value, be patient. Wait for the seller to lower the price, and then you can go in with a realistic offer. Sellers that set the price too high for a property will have difficulty finding a buyer.
Find a property with minimal issues
Finding your dream home is no simple task. It takes time and many house viewings until you find what you believe could be your forever home. After finding a place that is your dream property, the next stage is looking for issues. These could be visible issues that you believe could be costly to repair or minor rework that will have to be done in the future.
To further help ensure that you find a property with limited issues, invest in a surveyor’s report. It could help to ensure you find your dream property with minimal problems to resolve. You will likely have areas of the home that need improving, but very few that will be a significant investment to make.
VIA SOTHEBY’S UK INSTAGRAM, @UKSOTHEBYSREALTY, FOR SALE BLOMFIELD ROAD, MAIDA VALE, LONDON
Transfer process takes time
After finding your dream house, the legal transfer process can take time. However, having a good conveyancer on-hand can help clear any issues you have. If you were to need a Manchester-based conveyancer, for example, you might seek the services of a firm like Conveyancing Expert. Use this conveyancer in Manchester to gain support and advice that could help you through this timely process.
More options available
It is easy to view a few homes and settle on the closest to being your dream home. Buying a house – finding your dream home – is a significant investment to make. When you buy a house, you want to ensure that you have selected the best one. If looking to buy your dream home, you will unlikely want to settle for anything else.
The property market is constantly changing. Prices rise and fall, property sales fall through, and houses re-enter the market. Being patient when looking to buy a home can enable you to expand your options. If timed right, you could find that your dream house has entered the market at a price ideal for you.
TOP IMAGE: VIA SOTHEBY’S UK INSTAGRAM, @UKSOTHEBYSREALTY, FOR SALE KINGS GATE WALK, WESTMINSTER
I am a 50-something Torontonian who loves everything about my city. It’s been my home, my playground, for my entire life. I went to school here. I met my wife here. I own real estate here. I love writing about the transformation of my city on the world stage, which hasn’t been anything short of dramatic. That continues on, as I write this. I write on the real estate scene. I write on travel and fashion. I like following the world of luxury watches.
But I love writing about cars – check that, luxury cars, a level of superior, engineering sophistication, high performance and style, that transports you not just from one destination to another but also out of whatever you are going through on a particular day, whatever mood you are in, all to another head space. It’s complete and total exhilaration, head to toe.
Check out my stories, and email me direct at mkeast@regardingluxury.com
