Temperatures are rising, flowers are starting to bloom and “for sale” signs are popping up across the neighbourhood, which means the spring selling season has arrived.
Spring is a great time to look for a new home as many sellers place their properties on the market at this time of year to take advantage of the great weather and increased buyer activity.
However while spring can be great because there is increased stock on the market, it can also mean that there’s increased competition as a lot of buyers like to lock in a home purchase by Christmas.
If you want to make sure you secure the home of your dreams this season then it’s best to head into the market prepared.
First you need to figure out where you want to buy. Narrow your search down to a few key areas and figure out as much as you can about them.
Get to know property prices, the types of properties that are for sale and what types of developments are going on in the area. The more you know about an area the easier it will be to determine selling prices and what kinds of properties will be suitable for you.
It’s a good idea to get your finances in order before you start hitting the pavement.
Getting pre-approval from your bank or lender will let you know how much you have to work with so you’re confident in what you can spend when you’re ready to make an offer. Plus, having pre-approval lets sellers know that you’re serious about buying.
Visit lots of open homes
The more open homes you visit the better you will be able to understand the property market. Viewing properties online alone won’t provide you with the full picture. It’s much better to see properties in person so you can get to know what characteristics of a property you do or don’t like.
Visiting lots of open homes also helps you get to know a new area, which can be helpful if you’re not sure if there are some streets that are better than others.
Talk to agents
Don’t be afraid to get in contact with local agents to let them know the types of properties you’re looking for. They will be able to alert you when a property that meets your criteria comes on the market. You may even get the chance to be one of the first to hear about the property so you can swoop in and make the first offer if it’s the right one for you.
Occasionally there might even be a suitable property that is listed off-market, so the only way you will get the chance to hear about it is if you are on the selling agent’s books.
Know when to compromise
Finding a property that ticks all the right boxes isn’t always easy. Often in property you need to make some sort of compromise, whether it’s on the location, property type or how much you spend.
Focus on what is most important to you and try not to be weighed down by everything not being absolutely perfect. For instance, would you miss out on buying a property in the perfect area because it’s a little bit rundown, or worth a bit more than you thought?
If you’re looking to buy in outer western Sydney this spring and would like any information then contact Professionals Outer Western Sydney.