So, you’re stepping onto the property ladder or you’re already on the property ladder but you’re due for an upgrade, you’re looking for your forever home, looking for your dream rental, whatever you’re doing… You want to find your next home but with a shortening of supply, increasing demand, sky-rocketing house prices and cash-rich investors ready to swoop on the best property deals around with quick completion times, how can you be reasonably be expected to be successful in your property hunt? You could hire a property sourcer which may set you back thousands on top of your purchase price. You could even enlist the help of a dozen estate agents who will flood your email inbox with numerous irrelevant properties on the off-chance one of them is the one for you (provided, by the time you retrieve their email from your spam folder, it hasn’t already been sold). You could spend hours on Rightmove, Zoopla or OnTheMarket.com just to find the property is no longer available as the portals aren’t as readily updated as they perhaps should be (as a side note, Leicester Property Insight recommends staying away from Zoopla and OnTheMarket.com, though we can’t go into much detail currently as we are investigating reports of both of these companies abusing their customers and misleading agents who are on/going to join their platforms, it would be unfair to comment before they are given an opportunity to respond to any queries we have in due course. Instead, we encourage continued use of Rightmove and smaller portals like TheHouseShop.com, MousePrice and HouseLadder).
Top tips for finding your dream home
Researching your preferred area is key. You may find the most aesthetically pleasing property in the world but if you move in without carrying out due diligence in the area, you could find yourself living in a ghetto; a crime-riddled, drug-addict infested hell-hole of an area which you spend every waking moment at home worried that someone will break in and every waking moment away from home worried that someone has already broken in. It won’t be pleasant and you’ll likely feel like you’ve failed to secure the dream home you wanted. What we’ve noticed, especially, is that when a person despises the area they live in, they begin to hate their home. This is not healthy.
Search Alerts are important as they let you know when properties come onto the market, if you’ve set up alerts directly with an estate agent, it’s likely you’ll receive an email/text alert before it is even live on the portals. Most portals take at around 12 hours before properties are listed on them. You can set up Search Alerts with Harry Albert Lettings & Estates by clicking here.
The property market moves fast, so you need to be at the front of the queue when a property comes onto the market which highlights the importance of property alerts, most estate agents have a sign-up feature on their website.
You should gain a good understanding of your costs going forward; how much will it cost to move? How much are your mortgage payments? What’s the energy efficiency rating of the property? How much do you anticipate your bills to be once you’ve moved in?
Also as important is budgeting for legal costs, etc, to complete the sale in a timely manner without the vendor pulling out because it’s taking too long.
Be safe online, especially when searching for property. Never hand money over without gaining access to the property to view it first; NEVER trust a stranger who tells you’re they’re out of the country and have taken the keys from the agent and if you’re interested, to view the property through the window and pay the deposit, signing a tenancy agreement via email. These people are scammers and the scam is increasing in popularity. We recommend using Harry Albert Lettings & Estates, a reputable, leading online letting and estate agent who are happy to assist you in your property search.
By shopping around, you’ll be able to secure a good deal when buying your next property or at least, you’ll get a good idea of market values. There are many homebuyers who will buy the first home they like which could force them to really lose out on the diamond in the rough they’re really searching for. You may also consider auctions which could be the place to be when finding your below market value properties. Alternatively, you could sell your current property at auction and complete in 28 days using Harry Albert Lettings & Estates modern methods of auction.
By following the above tips, you’ll be able to find that dream home without too many unexpected surprises. If you’re looking for a dream buy to let property, Harry Albert Lettings & Estates will be able to provide free property comparison and analysis tools to enable you to easily compare your investments.