Desperate wannabe FTBs- any advice?

efirox

Hi all, happy new year!

Just wanted to ask your opinion on our situation. My partner and I have been looking to buy a house for about a year now, no luck so far. 

We both have stable income and secure jobs, about £50k deposit (started with £27k last year) and have been looking for 2/3 bed around £250-300k in the wider Portsmouth area. 

We've put 10 offers so far, all of them rejected for different reasons; 15% deposit not good enough, cash buyer, marginally higher offer etc

Most of the time we don't even get a chance to view a house! We both work so can't be on Rightmove/ Zoopla 24/7, I check about 5-6 times a day. But even then, they're either fully booked already (in like 2h!) or ignore my emails/ voice mails and when I manage to get them on the phone it's apparently too late. 

I've registered with most agents in the area but this doesn't help as they send us the emails the same time they post on Rightmove/Zoopla.

Being FTBs seems to have no advantage whatsoever, people have to sell their homes before they view a house anyway. Nobody has taken into account our situation (renting, ready to move).

We're at a small appartment which allows us to save but it's making us depressed, especially myself as I work from home and I'm in 40m2 with no balcony or garden all day every day.

I'm now looking to rent elsewhere with a higher rent, even if this means wasting more money.

Any advice from more experienced members?

Thanks 

onylon

You need to safeguard your mental health but small changes can really help. Can you get out for a lunchtime walk? Work in a coffee shop or library for a change of scenery? Improve your work space and lighting in your rental? 

It sound like the right financial decision is to stay put in your flat but to be more flexible about your potential purchase. Could you consider a different area? 

penners324

Buy a new build?

Slithery

efirox said:

I've registered with most agents in the area but this doesn't help as they send us the emails the same time they post on Rightmove/Zoopla.

And how often are you physically visiting all of these agents? Once a week is usually a good start.

You need to make sure that you are at the top of their list of potential buyers so you get to hear of properties before they hit the market. Constantly popping in is a good way to make this happen.

TripleH

Re the flat.try a reorganisation of the working space or if you can hide away your work stuff when you finish for the day. Even if it's covering it with a throw. I know it helped when I moved and could no longer see my work computer on an evening or weekend.

Doozergirl

Where are you placing these offers in relation to the asking price?  

Have you conversed directly with humans about your situation - ie. started a conversation with each agent that says you're desperate to buy?  As above with popping in, it's building a rapport that is going to help you.  

As well as making sure your offers are sensible in relation to the market.  You need to stick in an agent's head for the right reasons to get a call before the emails go out.  

RelievedSheff

Can only really echo what the others have said. You need to make yourself top of the agents list when a new property comes onto the market and to do that you need to put in the leg work and go and visit them and keep visiting them. 

Being a first time buyer isn't an advantage over any other type of buyer. In fact some would say it may be a disadvantage. First time buyers have a bit of a reputation for panicking when surveys come back for example. 

Have you tried widening your search area? Does that open up any more suitable properties?

Hebblethwaite

Try going to see houses with bad photos/something undesirable about them. I spent seven months viewing houses before having an offer accepted. The ones that looked the best in the photos were massively competitive even to view, but they were all hiding or exaggerating something when I saw them in person.

The house I've bought had terrible photos with one agent, and I had dismissed it. I then got a call from a second agent inviting me to view and agreed only because I thought it might be a good way to get in with that agent and encourage them to call me about other houses that I might actually like. The house is actually so much nicer than the photos and ticked most of my boxes. However, the rubbish photos meant far fewer people viewed. It was also undesirable because the vendor was buying a new build that wasn't due for completion for another five months (and actually took seven months in the end) and that's not appealing to anyone already in a chain. However, as a FTB in rented accommodation, I could wait. 

I think mine was the only offer on what is actually a really lovely house (or will be once I've done the most immediate work that it needs). All that time looking at houses where I had no real chance of beating the competition, and then the only house I offered on was the one nobody else wanted... Well, more fool them!

london21

Hang on things will get better.

I am in a house with garden but a must for me working from home has been every day without fail to get out and go for a walk.

You are in a good position not been in a chain and good deposit.

Can you perhaps try to widen your area search.

Set instant alert on your Rightmove have to be proactive not familiar with Portsmouth but seems very competitive. With regards to viewing can 1 of you view it, can do a video recording for the other. If your offer is accepted then can arrange further viewing suitable for the family because if you do not get to view the property, offer might not be taken seriously. 

For wellbeing I find the following helps:

listening to music
cutting down on the news 
journaling 
going for walks 

try taking your mind off the property search for a bit and focus on other things.

Sistergold

Hebblethwaite said:

Try going to see houses with bad photos/something undesirable about them. I spent seven months viewing houses before having an offer accepted. The ones that looked the best in the photos were massively competitive even to view, but they were all hiding or exaggerating something when I saw them in person.

The house I've bought had terrible photos with one agent, and I had dismissed it. I then got a call from a second agent inviting me to view and agreed only because I thought it might be a good way to get in with that agent and encourage them to call me about other houses that I might actually like. The house is actually so much nicer than the photos and ticked most of my boxes. However, the rubbish photos meant far fewer people viewed. It was also undesirable because the vendor was buying a new build that wasn't due for completion for another five months (and actually took seven months in the end) and that's not appealing to anyone already in a chain. However, as a FTB in rented accommodation, I could wait. 

I think mine was the only offer on what is actually a really lovely house (or will be once I've done the most immediate work that it needs). All that time looking at houses where I had no real chance of beating the competition, and then the only house I offered on was the one nobody else wanted... Well, more fool them!

I second this approach. I struggled to get offer accepted(2018/2019 no covid times), so much competition even then. I then went for a house which needed loads of work and you could tell from pictures. Still paid over what it was worth but to be honest it was the only way in. Too much competition and stress when house in mint or reasonable condition. Once you make sure work is not structural and roof is sound then for me I can cope with that. If a house is run down there is a good chance that the seller will be keeping their fingers crossed that you don’t change your mind before completion due to the work. Good luck. 

Pow11890

You need to build rapport with EA. 

Or alternatively buy a NB on FTB scheme. Those are easier to come by. That’s what we’ve just done! 

We built rapport a month or two prior to the desired plot we wanted with the sales rep on the NB development. Explained our situation in terms of our stable jobs + salaries , large deposit availability. And kept in touch via email & in person with regular visits for updates. This helped us stay on his radar! 

He contacted us the night before our plot was going to go officially live on the developer website. We went to the sales office in person at 10am when they opened & were the first individuals there. Purely based on the intel/heads up he gave us. We essentially got 1st pick because he called to give us a heads up. 

So really does pay to start building relations with EA/sales rep because they’ll remember you by face. As opposed to by name If it’s just email or call. You can make an impression in person.