Many estate agents Chelmsford branches are noticing regular fluctuations in the property market throughout the summer months. House prices have fallen a little but may begin to steadily climb again as the warmer months continue to reach their peak. So, is now really a good time to buy a property? We look at the various questions to ask yourself and provide some insight for first-time buyers during one of the property market’s most uncertain and ever-changing times.
Consider Your Personal Circumstances
Before racing into any property searches this month, you should first consider your circumstances and how quickly you hope to find a property that meets your requirements. Is your budget high enough to get you everything that you want and how flexible can you be when it comes to seeking out your dream home?
Property prices may have decreased briefly, but mortgage rates are constantly changing, and some short-term fixed-rate deals are in the region of 6% which could be something of a concern for those looking to take out a mortgage shortly. You do need to conduct your own research and take full control of your finances to determine if a house move is right for you this summer.
House Prices Typically Rise Again In The Summer Months
Just as frequently as house prices can fall during the start of the summer, they can often increase again as the warmer months continue. So as a buyer, getting your offer in at the right time can be crucial. Your estate agent can help navigate the process and explain the property market during the season you are looking to purchase a home. Summer sees a good sales period for many estate agents and is an excellent time for new listings, due to the increase in new and excited buyers.
Top Tips For First-Time Buyers In The Current Summer Housing Market
If you are a first-time buyer who is looking to purchase a property this summer, then here are some handy tips to help you get started.
Ensure That Your Finances Are In Order -It has never been more important to have your finances in hand than in today’s fast-paced property market. Ensure that everything is ready to go, funds are in place, and you are in the position to make an attractive offer when the time is right. You don’t want to lose out on your dream home, due to admin errors.
Decide On The Area You Want To Be Based In And Do Your Research – Deciding on the area you intend to purchase property and researching the prices and past sales will help to keep you ahead of the game.
Remember To Save Funds Back For Surveys And Fees – Remember to set aside money for some of the easily overlooked aspects of moving house. You will need to pay for housing surveys and lawyer fees as a minimum and these can add up, depending on the complexity of your move.
