Sum­mer re­flec­tions on mov­ing home

With daily life re­turn­ing to nor­mal for many peo­ple fol­low­ing the busy sum­mer sea­son, David Lewis dis­cusses why Septem­ber is an im­por­tant month for any­one think­ing of mov­ing be­fore the end of the year

Cheshire Life - - At Home -

The sum­mer hol­i­day pe­riod can pro­vide the ideal time to es­cape the pres­sures of day to day life, re­lax and pro­vide qual­ity time to re­flect and con­sider pri­or­i­ties for the months ahead.

For some peo­ple, this can lead to ce­ment­ing plans to move home. Ac­cord­ingly, there is usu­ally a no­tice­able in­crease in ac­tiv­ity in the prop­erty mar­ket from early Septem­ber, as new sell­ers list their homes for sale and buy­ers com­mence their prop­erty search in earnest.

Buy­ers are typ­i­cally ei­ther up­siz­ing lo­cally into larger prop­er­ties, pur­chas­ing af­ter a pro­longed pe­riod in rented ac­com­mo­da­tion or mov­ing back to the re­gion with young fam­i­lies af­ter hav­ing built a ca­reer in the South or over­seas.

What to ex­pect in the Au­tumn

The short­age of prop­er­ties may mean that sell­ers will be­come more bullish with their ask­ing prices so buy­ers will need to be care­ful when mak­ing an of­fer on a prop­erty that it is re­al­is­ti­cally priced, de­spite the cur­rent sup­ply and de­mand sit­u­a­tion.

This said, sell­ers should also be care­ful not to over­price their homes. Most buy­ers are in­creas­ingly savvy about a prop­erty’s value and as a con­se­quence, we have seen lovely homes sit on the mar­ket for months just be­cause the ask­ing price is over ambitious. Some­times it is bet­ter to be re­al­is­tic with your ask­ing price and gen­er­ate healthy in­ter­est (pos­si­bly lead­ing to com­pet­i­tive bid sit­u­a­tions) rather than be­ing over­am­bi­tious with no view­ings.

So how do you nav­i­gate this mar­ket?

Once in a po­si­tion to act, en­sure that you are very clear about your search cri­te­ria (I would rec­om­mend doc­u­ment­ing this), list­ing the ab­so­lute es­sen­tial as­pects and those which are a ‘nice to have’.

Nat­u­rally, the smaller the search area, the more re­stricted you will be on choice, so try look­ing as widely as pos­si­ble. A plea I make to all my clients is to view as many po­ten­tial prop­er­ties as pos­si­ble. Too many peo­ple try to buy prop­erty on­line and miss out on gems be­cause they as­sume a supposed neg­a­tive is a deal breaker, with­out tak­ing time to explore the wider ben­e­fits a home may of­fer. Look care­fully at prop­er­ties that have been on the mar­ket for a long time. Longevity doesn’t nec­es­sar­ily mean there is any­thing wrong with the prop­erty and could present you with an op­por­tu­nity to buy at a good fig­ure if the seller has re­alised they were pre­vi­ously too ambitious with their pric­ing.

Achiev­able timescales?

Fam­ily buy­ers will typ­i­cally wish to move around school hol­i­day times and for other pur­chasers mov­ing by the end of the year be­comes some­what of a psy­cho­log­i­cal dead­line to hit.

De­spite ad­vances in tech­nolo­gies to speed up the process of mov­ing home, it can still take months to progress from your of­fer be­ing ac­cepted to picking up your new front door keys. For this rea­son, Septem­ber and Oc­to­ber are crucial months if you are stead­fast on mov­ing by year end, to al­low suf­fi­cient time for the le­gal process to go through.

Once the ideal home has been found, it is im­por­tant to act both de­ci­sively and pru­dently. Be wise about your next prop­erty pur­chase and make the most of the mar­ket op­por­tu­ni­ties that are cur­rently be­ing pre­sented whilst con­sult­ing pro­fes­sional ad­vi­sors be­fore em­bark­ing on ne­go­ti­a­tions and a trans­ac­tion.

David Lewis GARRINGTON

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