With the spring property season well and truly underway and Christmas just around the corner, aspiring property buyers need to act quickly if they want to get into the market before the new year.
All indications are that we are now in the midst of a buyer’s market. Weekend auction clearance rates have fallen over the last few weeks, suggesting a drop in buyer confidence after the latest rate hikes.
The good news however is that less buyer interest translates into more opportunities for those who do want to buy.
But this downtime may not last long. So if you’re looking to crack the property market before the year is out you’ll need to formulate an effective house hunting schedule.
By having the ‘know how’ when it comes to effective house hunting you’ll be more confident and better placed to find the right property.
Start your search with some good research. Scan your chosen area to scope out available property listings as well as what price properties in the area are selling for.
Many first home buyers make the mistake of finding a home they’d love to purchase only to be quashed by being denied the necessary cash. A pre-approved loan is an absolute must-have, so you know exactly what you can afford.
Once you have an understanding of the market and a pre-approval under your belt, it’s time to get yourself a note book and begin notating and documenting properties you wish to inspect.
Inspecting properties can entail a lot of running around that can quickly eat away at your time. A dedicated notebook can help you manage your search much more effectively, by allowing you to keep tabs on inspection dates and times, as well as keeping property notes.
Don’t forget to register for e-newsletters from property sites such as domain.com.au so you can monitor property listings throughout the week and plan you weekend inspections accordingly.
Another way to bolster your house hunt is to develop relationships with local real estate agents. By doing this you’ll be kept on the pulse of any suitable property listings, as well as any market trends.
Scaling the property ladder takes time and dedication, but by having a structured strategy and a real plan in place you’ll be well placed to make it happen before the year is out.