28th December 2021
The period between Christmas and New Year is known as the busiest time of year for home searching in the UK and this Christmas period is set to see an unprecedented level of interest as home buyers seek to find their perfect property. But as demand for houses continues to outstrip the supply of houses on the market, home buyers will face fierce competition in their home search - with an average of 29 buyers for every available property according to Propertymark’s latest housing report.
So how can you get ahead of the game to ensure you find and secure your dream home in 2022?
Make yourself proceedable: Many agents won’t take you seriously if you’re not proceedable, so make yourself an attractive buyer. If you have property to sell to enable your move, make sure that your property is on the market when you start contacting agents. According to Rightmove’s Director of property data, agents are reporting that around 87% of sales agreed were snapped up by buyers who were already in a position to proceed. In the current climate, agents will want to know that your house is under offer before discussing any properties on their books, so if you are serious about your house search, bite the bullet and get your house on the market.
Make sure you have a clear idea of your budget: Talk to your financial adviser to ensure you are clear on your borrowing capacity. Ensure that you have taken stamp duty into consideration. Knowing your absolute maximum budget is particularly important in a seller’s market as you’ll need to know exactly what you could offer to to get your perfect house.
Narrow down your search area: Identify the areas you would like to move to and rule out any that are less desirable, too far from transport links/facilities/schools. It may sound obvious, but this will help save time viewing properties that just aren't going to work for you and your lifestyle.
Clear out your diary and be prepared to move quickly: With the current high demand for properties, many Surrey agents are moving towards a launch day, maximising viewings to the property on a particular day. Agents can schedule around 30 viewings for a property in one day with the hope that this generates multiple offers and interested parties will often be asked to have offers in within 48 hours. If multiple offers are received, the agent is likely to recommend that the vendor goes to ‘best and finals’. It is particularly important at this point that you have your maximum budget agreed as you’ll need to move quickly and may need to compete against multiple other offers.
If you really want to get ahead of the game, you might consider a property finding agent. A property search agent will not only work on your behalf to find properties that match your specific criteria (often with knowledge of properties that are not currently on the market or are being marketed discreetly) but will also save you time by helping you to narrow your seach requirements and pre-viewing properties on your behalf, offering virtual viewings and video calls to ensure that you can see potential properties without having to attend each and every viewing. This works particularly well for clients moving from overseas or from out of the area, but also for those clients who are short of time or require expert local knowledge.