When to start looking?

mastdog

So I am a first time buyer and will have a 10% deposit saved in March. Possibly looking at saving up to 15% which would take up to around December.
Couple of questions really.

When is the right time to start contacting brokers, would now be too early?

I have looked online and 'tracked' a lot of recently sold properties in the area, when should I start looking to arrange viewings and reach out to estate agents?

Doozergirl

it!!!8217;s not going to hurt doing it now, presumably then you can decide if you want to wait until nearer December before looking for somewhere to buy.

ReadingTim

London & Country don't charge upfront/direct, so assuming you can spare 30-60mins on the phone, there's no harm in contacting them now - they can run the numbers for both a 10% and 15% deposit which will allow you to take a view as to whether it's worth arranging viewings on places now, or hanging on until this time next year when you can either borrow more to buy a nicer place, or have the repayments at a more manageable level.

The broker will also be able to produce some sort of 'decision in principle' certificate which you can wave at an Estate Agent to substantiate your offer if and when you make one.

Ultimately though, it's up to you - does what you've saved now allow you to get what you want, or can you get something better by waiting longer? And what do you think house prices will do where you're looking - go up, and you risk not being able to buy something in the future which you could afford to buy now; or go down and risk paying more for something now than it'll be worth in 10-12 months time...

mastdog

Thanks for the response I will get in touch with them. I'm looking at South yorkshire and from what I've seen the market has been pretty stagnant the past 5 years so I don't think there's too much danger of us being priced out on what we are currently looking at.