If you’ve been thinking about buying a house in Oakwood, now is just as good a time as any other to take the leap and make that investment. First, you need to hire estate agents in Oakwood; then you need to start the process of property hunting which could take weeks or even months, after which you have to make an offer that is just too good to refuse. Once your offer has been accepted, all you have to do is move into your new home; sounds simple enough. If you are a first-time buyer who is looking to buy a new home in Oakwood, then you should consider buying a house in the month of June, and here’s why.
The spring market rush
April, May and June, essentially the months of spring and early summer are the best times to buy a house in the UK. Usually, in these months, there are quite a few properties that are available in the market and the market is pretty active. Of course, the spring market rush brings with it a bidding war, so be sure to make your best offer when you do find the perfect property!
A quick and active market
As per the experts, buying a house in the UK in the early summer months is a pretty good idea. For one, the market has a high demand and supply, thus ensuring that every potential buyer has quite a few options to choose from. Also, most people are looking to close a deal quickly before they go off on vacation. For instance, May and June are great months to buy a property as the market is quick and active. On the other hand, July and August are actually considered slow months in the property market because most sellers might be away on holiday. Of course, there are still quite a few properties that are on the market during these months, but it might take buyers and sellers a little longer than usual to close the deal.
The balance between demand and supply
Another reason why June is a good month for first-time buyers to purchase a house is because of the balance between demand and supply. During the early summer months of May and June, there are quite a few properties on the market and there are a large number of potential buyers who are looking at potential new homes. Due to this sense of balance between demand and supply, property prices will not really spike. For instance, in November and December, the market is pretty slow due to the winter festivals. Once January approaches, an array of properties are listed on the market while many new buyers decide to buy a house in the new year, which leads to an increase in the average price of property in the country around that time of the year.
If you’re looking for a variety of options without paying through your nose, then you should really consider buying a house in the second quarter of the year. If you are thinking about buying a house in June, which is right around the corner, here are some tips to help you seal the deal and move into your new home, quickly and efficiently.
Get your finances in order
To be able to make an offer, you need to have your finances in order. First and foremost, decide on a budget and stick to it. Once you have a budget in mind, you need to keep at least 20 per cent of your total budget as a deposit. Then, you need to start working on your credit score. It is always a good idea to apply for a pre-mortgage approval as that will make estate agents and sellers take you seriously. Once your paperwork and your finances are in order, the process of buying a house and paying the monthly mortgage will become much easier and smoother. Also, do not forget to account for additional expenses while you are making your budget!
Do your due research
Before you make an offer, you need to do your research. Understand the local market trends, find out how much similar homes have sold for in the past in the neighbourhood, figure out the average price of property in the area and make an offer accordingly. If your starting offer is too low, then the seller might not take you seriously. And, if your initial offer is too high then you might just end up paying more than the value of the property. You can always ask your estate agent to help you come up with the right offer as well as negotiate a good deal with the seller.
Figure out your new interiors, beforehand
It will be much easier to unpack your things if you know what is going where. For instance, if you are moving from a two-bedroom apartment to a three-bedroom house, you’re going to need to decide what furniture is going where. It will help if you pack up items depending on where you want to use them in your new home. For instance, if the items from your old bedroom are going into the guest bedroom in your new home, then pack accordingly. Also, you want to figure out whether or not you can reuse any old furniture in your new home. If not, you might not want to make the effort of packing and moving things that are no longer required.
Be ready to move
Once you have closed the deal, you want to be ready to move into your new home as soon as possible. For that, you need to start packing in advance. Once you have found a home that you like and you are ready to make an offer, you should start packing up your belongings to get ready to move. Start packing up the things that you do not use frequently and just leave the essential items for the last minute. That way, once the deal goes through, you should be ready to move into your new home within days.