Often, people delay their property searches until the first blooms of spring. They regard the winter housing market as relatively slow.
And they’re right – fewer homes brandish ‘for sale’ signs. But, in fact, these conditions can glisten with opportunities for those who know what they’re doing.
Here’s how first-time buyers can increase their chances of finding a gorgeous new home this winter.
Make the most of less competition
Once spring is here, the market is likely to get busy. Yes, that means more properties to choose from, but also more competition. Let’s say you’re interested in an apartment and you’re waiting to view others so you can compare the properties. Before you know it, a rival buyer puts in a decent offer, and you’re suddenly under pressure to decide your next step. You might even get into a bidding war with several people.
In contrast, starting your property search now means you can take time to consider your options. As a first-time buyer, this can be especially important as you get a feel for the market and how the buying process works.
When talking to sellers and your estate agent, ask lots of questions about both the home itself and the surrounding area. Even if you miss out on a property – or decide it’s not for you – this information can help guide your general search.
Find motivated sellers
Many people who decide to sell up during wintertime do so with a deadline in mind. They might need to relocate for a job with a specific start date, for example. They’re not simply sizing up the market and seeing what happens – they’re motivated to sell.
If you decide a property is right for you, the seller is likely to accept a reasonable offer. They won’t drag their heels waiting for more interest, as might be the case later in the year. This way, you get a relatively quick turnaround between requesting a property viewing and having an offer accepted.
Enjoy a smoother conveyancing process
As for the stages that follow your accepted offer? You may well benefit from a quieter market in terms of industry professionals, including estate agents, solicitors, conveyancers, and removal companies.
Just think: less time spent waiting for your solicitor to return that email! Or for removal companies to send you a quote! And if the people you’re buying from are part of an upwards chain, these time savings will multiply and create a smoother conveyancing process for everyone.
Advice for buying in the winter
Here are some ways to maximise your chances for success:
- Allow extra time to reach a property viewing. Arriving late due to icy pavements and fog could mean you shorten – or even miss – your time to look around.
- Visit a property in clear daylight, especially if it has a garden. Winter gloom make it harder to see the details of a property, whether that’s spotting patches of damp or imagining how you could redecorate the kitchen.
- Decide on your priorities. With fewer homes on the market, you might be tempted to choose somewhere different to what you originally had in mind. While it’s good to be flexible, make sure you’re clear on your must-haves.
- Organise your finances. Whatever the season, understanding your mortgage options and finances puts you in a strong position for making an offer on a property. The seller is more likely to take you seriously, while you can feel confident in what you can afford.
Speak with an experienced estate agent
If you’d like to get started with your property search, get in touch with your nearest Winkworth branch. One of our experienced estate agents can share local market expertise and guide your efforts.
