×

Month: May 2021

FOMO, Hot tips for buying a house in today’s market

Posted on by Sophie Winter

If you’re thinking about buying a house in Kent at the moment you may have a ‘Fear Of Missing Out’ (FOMO), and who could blame you?  With a distinct lack of properties on the market and an abundance of buyers all wanting to find a home, it’s like the Wild West out there on the housing front. In March, HMRC announced that UK property transactions were at their highest level since records began in 2005. In fact, there were 180,000 sales, that’s double the number seen in March last year. So if you are a buyer trying to navigate this market, how can you ensure your FOMO doesn’t become a reality?

Get ready

One of the biggest mistakes you can make as a buyer is to start your search before you’ve got yourself in a viable position. In other words, do you have a mortgage in principle?  Having an up to date mortgage in principle is important. This demonstrates to both the homeowner and the estate agent that you are able to proceed with the purchase. Your offer will be considered serious. Meaning that in cases where demand for viewings on a property is overwhelming, you will be considered over someone who doesn’t have this in place. If you haven’t taken the steps to speak to a mortgage broker, we would suggest you do so as soon as possible.

Be transparent

If you want to be taken seriously, you need to be transparent when speaking to an estate agent about what you’re looking for and your maximum budget.  We know that by placing all your cards on the table you may think you’re putting yourself in a weaker position when it comes to negotiating. But stating that you don’t have a maximum budget doesn’t ring true. This can make it difficult for an estate agent to help you find your dream home.

Take advantage of virtual viewings

Virtual viewings are a great way of touring a number of properties to see what you like and don’t like.  It can help you to solidify your wish list and work out where you’re willing to compromise.  Within a virtual tour not only will you be taken around the property, you will also get to ask questions. This means that when you are sure of what you want you can focus all your time and energy on properties that could be the perfect match. 

Be clear

Buying a house is a massive investment. However, it’s a decision that many rush into, and we don’t want you regretting a purchase down the line.  Before you start to physically view properties, think about all the things that are important to you and not just the property itself.  As the country starts to open up to some kind of normality, what can the neighbourhood offer you? Your work situation could be different, perhaps involving work from home days, so is commutability as important as it was? Or, do you want walks, shops and bars in walking distance? Remember, a home can be changed but a location can’t. It’s easy to be swayed by a stunning interior and exterior, but is it the right ‘home’ for you?

More haste, less speed

This market requires a clear and level head. If you snooze you will lose, but your decisions shouldn’t be rushed either.  Set up alerts with property websites so you’ll know as soon as a new home in your chosen area comes onto the market so that you can book a viewing as quickly as possible. Don’t forget to do your research before you go if it’s an area you’re not familiar with.  Make a list of questions so these can be answered whilst you are viewing the property.  Try and view the house without rose-tinted glasses, because this could be your home – will you be happy living there? Don’t wait to make an offer if this house is for you. As you can be assured that others who have viewed it will no doubt be doing the same.

Do you want this house?

Any offer you make has to have an impact. Yes, we all love a bargain but when homes are going for close to or over their asking prices at the moment in Kent, making a low ball offer will seem like an insult to the homeowners.  You want your offer to be taken seriously. Don’t forget to remind the estate agent of your position – are you a first-time buyer, chain-free, your property already sold? Knowing more about you and your position could make your offer more attractive; not all sellers take the highest figure. Some wish their home to go to a local family, not an investor, or prefer a buyer for other reasons. 

No more fear

With these hot tips, you may still have a little fear of missing out. However, you’re taking steps to place yourself in a strong position so you can not only find your dream home, but buy it too.  If you’re looking for a new home in Kent, come and chat to our team to see how we can help you.

Call our team today on 01634 570057.

Content contributed by The Federation of Independent Agents.

Recent Articles

Should I buy first or sell first’ when moving in Medway?

Posted on by Sophie Winter

When moving home, it’s always a kind of chicken and egg situation, you will no doubt have been nosing online for your potential next home, but you’re also curious about the value of the home you already own. But when you own a property and are looking for another, is there a right way round to do it? Should you buy or sell first when moving home in Medway?

Buying first

We know that when you call or interact with our agency for the first time, this is our chance to impress and your time to judge. Getting to know you on that first call is essential. Yes, we would like to know more about your house, but it’s you and your family that are our focus initially. “Why?” you may ponder.  Because, simply put, if we don’t listen at the start, how can we know the best strategies to use? If we understand you, the motivations for your move, your circumstances, your plans for the future, we will know exactly how to approach your sale and can start planning a strategy for marketing your home should we be given the honour of selling it. 

We completely understand all these emotions. Moving home is a huge thing and you want to make sure you get it right but buying a property before you have sold your home is not the right move to make.

For financial reasons

You may have an idea of what your home is worth, or even had your home valued, so when you start to look at homes on the market, you will have a sense of what you can afford.  A valuation is not a sold price, and property markets rise and fall over time. The figures you are basing your finances on could be completely different to the actual figures that apply when you start to go through the process.  If they are too far apart, you could potentially lose the home you are looking to buy as well as a few pennies along the way.

Puts you in a weak position

When someone makes an offer on your home, you want to ensure that they are in the best position possible so that things move quickly and smoothly.  As a seller, you are looking for someone chain-free, or in a small chain, who has their finances in order and their home has been sold.  How would you feel if someone made an offer on your property, but they hadn’t even placed their home on the market yet?

Because time doesn’t stand still

We would love to tell you that that we can stop time, but that’s one skill that even us estate agents and unable to achieve.  Whether you’re wishing to move before the stamp duty returns to normal to take advantage of a discount, or you want to be in before the new school year starts, the speed of the process is always something that concerns buyers and sellers alike.  The process in the UK is not swift, as we know, and anything that feels like it’s dragging its heels can make things seem a thousand times worse. 

Even if your offer is accepted by a seller, how long would they be willing to wait for you to sell your home? How long would you wait?  Nothing is more frustrating in a move than delays and waiting for someone to sell can be one delay too far for many, which sadly can see chains collapsing.

Shattering the dream

You have set your heart on your chosen new home and you’re spending your evenings picturing how you will decorate, where your furniture will go and what your life will be like living there.  Dreaming about your new home is what’s making leaving your old one so much easier, to the extent that  emotionally you’ve already left your current property.  It’s now on the market and you’ve made an effort to make sure it’s looking good for potential buyers, all you need is one buyer to see what a fantastic house it is.  Yet things are not going according to plan. Viewings are getting less, the sellers of the house you want are getting nervous and you can see the dream of your new home shattering all around you. Who needs that stress?

Get it right from the start

SELL YOUR HOME FIRST! There is only one right way to move and that is to sell your home first. This way, you’ll be putting all your energy into your current home to make sure it isn’t just looking good for buyers but looking amazing.  You will be in a better position financially, because you’ll know exactly what monies you have to play with when you start to look for your next home, and you’ll be in a stronger position to get your offer accepted. 

We understand the lure of wanting to search for a new home before you sell, but please be patient, you will get to that part of your move quicker if you take our advice and sell your home in Medway first. Finding your next home will feel even more exciting when you know you can actually move forward rather than waiting in limbo.

Thinking about moving in Medway? Get in touch with our team at Century Residential and we’ll get you on the first steps to getting your home on the market and promptly sold. Call today on 01634 570057.

Content contributed by The Federation of Independent Agents.

Recent Articles

Why listening is the most important skill we have when selling a home

Posted on by Sophie Winter

Well, what a month it has been for anyone who loves, supports, or follows football. Less than 48 hours after the announcement of the European Super League (ESL), the six English clubs quit against a backdrop of anger, criticism and disbelief.  News channels highlighted their failure to speak or listen to fans, and to understand the mood of the country.  In truth, it was one big idea that bombed spectacularly with the world watching, but would these clubs have joined the ESL if they had just listened? 

Listening is often something that is taken for granted, and if we’re honest with ourselves we don’t always listen effectively all the time – we could be distracted by something else happening or going on in our lives.  But when it comes to selling homes, listening should never be underestimated. At Century Residential we believe it is the most important skill we possess, and one that places us at an advantage when selling your home.

From the first call

We know that when you call or interact with our agency for the first time, this is our chance to impress and your time to judge. You don’t want to feel like a number, and your house just a commodity – that just makes us look like an ESL-style agent.  Getting to know you on that first call is essential. Yes, we would like to know more about your house, but it’s you and your family that are our focus initially.  “Why?” you may ponder.  Because, simply put, if we don’t listen at the start, how can we know the best strategies to use? If we understand you, the motivations for your move, your circumstances, your plans for the future, we will know exactly how to approach your sale and can start planning a strategy for marketing your home should we be given the honour of selling it. 

The valuation

You may believe that the valuation is all about a number, and in a way it is, as you need to know what value is placed on your property so that you can plan your move.  But there is so much more to the valuation, and Jamie Newbold will explain why.

“Every home has a story. It is easy to find out the facts – number of bedrooms, bathrooms etc – but it’s the tales of people’s lives there that makes this part of my job so fascinating and enjoyable.  They give me a little insight into what it has been like to live in a home, the owner’s favourite spot to sit and read, where the dog loves to snooze as the sunlight hits the spot just perfectly in the morning.  How they upgraded and spent time in their garden over lockdown, and the many treasured memories that each room holds.  It is these stories, these moments in time that make a house a home, and knowing this enables us pass on the love you have for your home to potential buyers on a viewing.”

If we didn’t take the time to listen to you whilst valuing your property, we would miss out on these wonderful stories, and who doesn’t like talking about their house?  Buyers just love to hear about how the current owners spend time in the house, not because they plan to do the same, it just adds another layer for buyers to connect with.

The offer

When we are conducting a viewing with a buyer, we’re not just listening to what they are saying but also what they are not.  Again, we take time to get to know them as people so that we can point them in the direction of the right property for them.  By taking the time to truly listen to buyers, we can artfully negotiate an offer, as we know what style of negotiation will be best to navigate to a successful outcome. Unlike the ESL, we believe that listening to all sides involved is the best way to sell a property and get you the highest possible price.

Put us to the test

There are many estate agents you can choose from when selling your property, but do they all truly listen? If you’re thinking of selling your home, why not give our team a call today and see the difference a service based around listening can offer you and your family.

We look forward to getting to know you. Call Jamie on 01634 570057, for a premier home selling experience.

Content contributed by The Federation of Independent Agents.

Recent Articles

© 2024 RHJB Ltd trading as CR Real Estate | Reg No: 10918586 | Registered Address: 18-20 High Street, Gillingham, Kent, ME7 1BB | Website Built and Powered by BoostOnline UK Group Ltd.
Boostonline Local Marketing
Book A Valuation