Are You Hoping to Buy in the Next 6 Months?

There is usually a point when browsing property websites starts to become something more serious. You might find yourself checking new listings more regularly, comparing different areas or discussing what you would need from your next home. Even if you have not booked a viewing yet, these are often signs that a move is beginning to take shape.

If you think buying within the next six months is realistic, September is a particularly useful time to start preparing. The autumn market traditionally brings renewed activity after the summer, while buyers currently have a good level of choice. Zoopla’s latest market report found that the number of homes available had increased across most regions, giving buyers more opportunity to compare properties and negotiate. It also expects market activity to pick up again from September following the quieter summer period.

That does not mean you need to rush into buying. In fact, one of the biggest advantages of starting early is that you can get the practical side of your move organised before you find a property you really want.

Know what comfortable looks like

For most buyers, the starting point is affordability. Bank Rate currently stands at 3.75%, with the Bank of England’s next decision due in September, while mortgage rates continue to respond to wider economic conditions.

Rather than focusing only on the maximum amount a lender might offer, it is worth deciding what monthly payment you would actually be comfortable with. A mortgage is only part of the cost of owning a home, so council tax, energy bills, insurance, maintenance and your usual lifestyle spending should all form part of the calculation.

Speaking to a mortgage adviser or lender early can help turn a broad property budget into something much more useful. An Agreement in Principle can also give you greater confidence when viewing because you already understand roughly what you can afford rather than trying to work it out after finding the perfect property.

If you already own a home, understanding its likely value can be equally important. You may not be ready to sell yet, but knowing how much equity you could have available gives you a far clearer picture of what your onward move might look like.

Work out what really matters

It is also worth using this stage to think carefully about what you want from the move. Most buyers begin with a fairly ambitious wish list, but few properties will tick every box within budget.

Think about the things that genuinely influence your everyday life. An extra bedroom may matter more than a newly fitted kitchen. A slightly longer commute might be worthwhile if it gives you the garden or additional living space you want. Equally, you may decide that being within a particular area is the one thing you are not prepared to compromise on.

Making those decisions before you begin viewing can help you recognise a good opportunity when it appears. It also makes it easier to look beyond decoration and consider the things that are more difficult to change, such as location, room sizes, parking and the overall layout of the property.

Get closer to the market before you need to move

One mistake buyers sometimes make is waiting until they are ready to make an offer before speaking to estate agents. If you are planning to move within six to twelve months, there can be value in getting onto their radar earlier.

Homeowners often speak to an agent before their property is publicly advertised. Some may be arranging a valuation, preparing for photography or simply testing whether a move is realistic. As a result, agents can sometimes have an idea of what may be coming to market before it appears on the major property portals.

September therefore does not have to be the month you find your next home. It can simply be the point at which you become a more prepared buyer.

If your finances are clearer, your priorities are established and you are already watching what is coming onto the market, you will be in a much better position to act confidently when something suitable appears.

If you’re looking to move in the next 6 to 12 months and want to stay local, reach out to us and we can send you a link to our Heads Up Property Alerts, giving you early access to homes before they hit the market.