Buying a house is a major milestone. It’s the most important and expensive purchase you’ll ever make, so you need to ensure you’re choosing the right property.
There are a lot of factors to consider before deciding which property you’re going to buy. Budget, location and the current state of the housing market are all things you’ll need to consider. Many buyers don’t pay attention to the market at all before choosing a property. So, to help ensure you make the right decision, below you’ll discover some of the main considerations about the housing market you’ll want to make.
Look at more than just house prices
Obviously, the main thing you’re going to look at when trying to find the right house, is the price. Every buyer wants to save as much money as possible, making it tempting to just focus on the lowest priced houses in your area. However, if you want to make sure you don’t regret your buying decision, you’re going to want to focus on more than just the cost.
This is because, there could be many reasons why a house is advertised at a lower cost. The area may be a little more remote, meaning you’ll absolutely need a car to live there. These are just a couple of factors to consider on top of the price tag. So, when looking at properties through companies such as Andrews, it’s a good idea to do as much research as possible into the area, condition of the property and access to local amenities.
Understanding the north and south divide
In terms of location, there’s a definite difference between the north and south. In the north, houses are known to be cheaper than the south. However, properties in the south tend to sell much faster than properties in the north. Recent research has shown that Canterbury is one of best places down south to sell property. The average property spends just 28 days on the market here.
So, if you’re looking to buy a house that you can eventually sell, you may be better off investing in a property in the south of England.
Consider future housing market trends
It’s all well and good looking at housing market trends now, but these can actually change pretty quickly. Therefore, when you’re using the housing market to determine whether or not to buy a property, you need to factor in any potential changes in the near future. This will require a little research, but it’s definitely worth the time and effort to potentially avoid making the wrong decision.
As you can see, there’s a lot to think about when buying a property. The above are some of the main factors to look at before making a decision about where to buy.