In a rising property market: Time = Money

 

thinkingmenAs a property buyers agent, I’m not advocating a rushed property purchase BUT in a heated market you need to be decisive in order to avoid prices rising beyond your reach.

Anything that stands in the way of you knowing exactly what you want AND having a realistic expectation of what you can afford will end up costing you.

Three scenarios are quite common:

 

1. A couple that cannot come to a point of agreement. It might be that their motivations are different, they don’t agree on an acceptable level of debt, or their individual needs and taste are not in alignment. Whatever the reason, the issue needs to be brought to a head quickly so that they can get on with life.

2. Unwillingness to compromise. The majority of people want more than they can afford. In a typical property search we find that there are three elements that can be worked on: the actual property, the location and the budget. Unless there is flex with the budget, you need to quickly come to a conclusion about what compromises you can live with regarding where and what you buy.

3. A brief that is too wide. This usually applies to geographic area. Every suburb has a different dynamic and while you are coming to grips with one area, you take your eye off others. One Saturday might be spent inspecting property in one neck of the woods while your “perfect” home may hit the market in last week’s search area and another buyer snaps it up. You can’t be everywhere at once so getting focused early in the search is crucial to success.

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