Buying a Home? It's Not About Being Quick. It's About Being Ready.
Buying a home isn't about being the quickest buyer. It's about being the best prepared. From knowing your budget to asking the right questions at a viewing, a little preparation can give you a real advantage when the right property comes along.
One of the biggest misconceptions about buying a home is that you have to be the first through the door.
People often worry that if they don't arrange the first viewing or make an offer immediately, they'll miss out. In a buoyant market where property is scarce and demand is high, this could be the case. Even during the quieter summer months, desirable homes can certainly attract plenty of interest, but the buyers who are most successful aren't always the first through the door.
More often than not, they're simply the best prepared applicants.
Being ready to make an offer doesn't mean rushing into a decision. It means understanding your budget and your financial restrictions, knowing exactly what type of property you're looking for and having the confidence to act quickly, when the right property comes along.
The first viewing isn't the time to make a decision
It's easy to get carried away when you walk into a home you really like. Especially if you are booked on a ‘group viewing’ or ‘open house’ and other people are clearly taking an interest in the same home.
The décor might be beautiful, the kitchen could be exactly what you've been looking for and you may already be imagining where your furniture will go. That's perfectly natural. Buying a home is emotional, and first impressions often play a huge part in the decision-making process.
The key is to make sure that excitement is backed up by good preparation. If you've already sorted your finances, understand what you're looking for and have done your homework on the local market, you'll be in a much stronger position to make a confident offer if the property is right for you.
Use your second viewing differently
The second visit is your chance to stop looking emotionally and start looking practically.
There will almost certainly be things you missed on your first visit, and questions you forgot to ask.
- How much storage is there?
- Is there enough parking?
- What's the condition of the windows and doors?
- How old is the boiler? When was it last serviced?
- Does the layout work as well as you first thought?
- What are the neighbours like?
If possible, visit at a different time of day because a quiet road on a Tuesday morning can feel very different on a weekday evening when everyone is coming home from work.
Put a tape measure, pen and pad in your bag, check the orientation of the garden with the compass on your phone and really take the time to open cupboards, look at the ceiling and flooring, roof tiles and guttering.
Ask better questions
The more you understand about the seller's situation, the stronger your own position becomes. Before you leave the viewing, don't be afraid to ask a few questions. Better still, write them down beforehand so you don't forget.
- Have the owners already found somewhere to move?
- Are they part of a chain? How long is the chain?
- Are they hoping for a quick completion or would they prefer more time?
- Is their move because they found ‘the house of their dreams or because ‘they have / want to move’?
The answers to those questions can sometimes strengthen your offer without you increasing the amount you're prepared to pay or it could completely change your perspective. For example, if they're only moving because they've found their dream home, what happens if that purchase falls through? Understanding the bigger picture helps you understand the risks to your own purchase too.
Know your budget before you start viewing
One of the most disappointing situations for buyers is finding the perfect home before discovering it's outside their budget. Increasingly, sellers want reassurance that buyers have their finances in place before agreeing a viewing.
So speaking to a mortgage adviser and arranging an ‘Agreement in Principle’ before you begin viewing is something that is almost a must these days, and it really gives you a much clearer understanding of what you can comfortably afford.
It's also worth remembering that some properties are marketed as "Offers in Excess Of". If you're working to a strict budget, ask the agent what level of offers the seller is realistically expecting. It could save you viewing a property that's never likely to fall within your price range.
Register with local estate agents
Most buyers spend hours scrolling through the property portals, but not every property is discovered that way. At WhiteKnights, we have a “Heads Up Property Alert” system which is designed to inform you of new properties before they hit the portals, and it helps our team to really understand your requirements and notify you of new opportunities as early as possible.
Preparation gives you confidence
Buying a home is a really big decision.
After decades of helping people move around Reading, one thing has become very clear to us. The buyers who enjoy the process most aren't necessarily the ones who move the quickest.
They're the ones who understand the market, know their finances, ask the right questions and feel confident enough to recognise the right property when they find it.
Buying a home isn't about winning a race.
It's about making the right move at the right time.
If you're planning to move over the coming months and would like to register for our Heads Up Property Alerts, we'd be delighted to help you stay one step ahead.