In times of economic & political uncertainty – as we are now, people are naturally cautious when it comes to making big money decisions, such as buying or selling a home. None of us have a crystal ball but we at Davis Brown are continuously studying the property market very carefully, and if you are wanting to move or buy then waiting until political issues are resolved could mean you might be waiting a very long time, so we would suggest you take the bull by the horns and take the plunge now. Let’s take a look at why:
Property prices have remained relatively stable over the last 3 years, so moving now would mean you won’t be contending with an unpredictable market, avoiding big price movements in both directions.
The cost of moving is rising all the time, and this trend is unlikely to change, so you’ll be saving money on your move if you decide to do it sooner rather than later.
At first glance, you might think that stock is a bit thin on the ground, but if you do some digging around you might find your perfect home, and are able to negotiate a good deal, especially as many people are keen to sell before Brexit.
Interest rates are at an all time low, and while a sharp rise isn’t expected any time soon, it would be a good idea to fix at a decent rate if you are able to.
Waiting to sell at the top of the market – you really could be waiting many years! This would potentially be limiting your life choices, getting your kids in to your choice of school, missing out on a good job etc.
We have helped people buy their second home who have since been benefiting from several years of high demand from UK holiday renters. The number of UK residents taking “staycations” has been rising steadily over the last few years. Downsizers have enjoyed the economical and practical benefits of downsizing. Buy to let investors are finding excellent bargains in the new build sector where rents have been buoyant, and we are expecting to see further rises. Whatever you might be hearing or reading on the grapevine, whatever happens with Brexit (or not), we are unlikely to see dramatic price rise or falls; so in summary, waiting to buy or sell could well be a futile exercise.