Should we start now?

SuzieSue

You should definitely start researching the market as soon as possible but you should only actually do viewings if you are prepared to emotionally detach yourself from the houses you view when you can't proceed.

casualwalks

I started looking about 2 months before I had the full deposit and I actually found a house I wanted made an offer (about 5 weeks before having the full amount) I just let things progress naturally and we exchanged 6 weeks after offering and completed the week after.

wopdiddly

Oddly people are entering bidding wars again, surely there are plenty more fish in the sea in this economy?

SuzieSue

wopdiddly wrote: »

Oddly people are entering bidding wars again, surely there are plenty more fish in the sea in this economy?

Yes, it is a buyers' market in general, but there are only a few desirable houses in desirable areas and in those areas it is definitely a sellers' market.

Better_Days

Certainly start researching now - this is a substantial long term investment. Keep a close eye on RM and Zoopla. After a while you will get a feel for the market in your area and price range. So that when you do view, you will have have some confidence regarding how realistic the asking price is. This link gives some links to some very helpful websites http://www.moneysavingexpert.com/mortgages/free-house-prices

It is also a good opportunity to get to know the local agents. On home.uk you can compare the 'time on the market' for the EA's in your area. In Zoopla you can list by the most reduced. In my area this list is dominated by one agent suggesting that they over value to get the business. As a direct result of this I have upped my max price on RM by about 30k to take into account this particular agent's over valuations.

Viewings are also a good way to gauge how good the EA is. Did they follow up for feedback? (not all do!) Did they know much about the property?

As for viewings - I think it depends a lot on what position the vendor is in. If the vendor is looking for a quick sale, or a sale in the next couple of months, then it may not be a good idea. But if the vendor is in no hurry, and is aware of your position I can't see any harm. And as someone has said viewings are a good way to identify 'pet hates', but don't go overboard on the viewings otherwise it just becomes a chore.

Loopgames

J3OEF wrote: »

to look around and view houses that we are interested in?

We are saving towards out deposit and should have the required amount by end of august so do we start looking now and making offers are should we wait?

We have had a chat with a financial advisor and been told how much we can get etc

If we have our heart set on moving somewhere by sept/oct should we start now?

Go for it!

You will gain a lot of insight into what is 'out there' for you. We had all sorts of people come and view our property...who cares about whether you 'waste' anyone's time - it's never a waste of time if you are learning something about what is out there potentially for you. The more you see the more of a gut feeling you will have when you finally do find 'the one'..lol. Good luck.

If you are a first time buyer I would say wait longer than August - because of the seasonal price fluctuations in the property market. Sellers want to sell their homes before xmas generally so they will be more in position to negotiate with you on price (to a buyers advantage). Therefore october, november best times to make offers.

J3OEF

Mixed opinions then which ill take on board.

Being a FTB its a minefield for us and where to start, i have a few ppl within the family and friends who have brought so can call on them for advice when needed.

I have been watching the market closely for the past 6 months of so, especially in an area we are looking at moving too. Houses prices within this area seem to be up and down, for example a house ive been keeping an eye on... was listed last year in march at £115k and now at present, its at £104k

And too think, the area was voted last year as one of the best to live in the country, top 5 i think !!!

Obviously there is plenty of other houses to look at, but just an example. We have been looking at new builds and schemes, but im not too keen on the schemes and getting potentially ripped off with interest paying back and builder incentives blah blah blah.

Re time scale, we say August, but it would be more Oct/Nov id imagine so could very well be as stated a good time for us to get an offer in on somewhere we like, exciting times

dawyldthing

I made an offer mid November, should hopefully complete mid April (i'm hoping as rollercoaster is one way to describe it). Always look out for pitfalls, like I've had to wait 4 months for them to sort probate as they didn't apply before putting it on the market, so one like that could help. Plus they are sometimes cheaper (mine definately is compared to what the rest are asking for) and are more willing to wait i think. I'd been looking since September, but theres not many lower end properties on the market which is bizarre, but they definately were reducing towards the end of the year, there seems to be an influx of properties go on June/July time then reduce about October time i've found

Yorkie1

You might want to read this recent thread where the OP got rather ahead of himself ...