With property searches and enquiries at s1homes so far this year increasing every week, Scots are getting a head start on 2022 and preparing to make their next property move. But with thousands of Scottish properties to search from, buyers can easily get distracted by the choice out there and find it difficult to narrow their search and set realistic goals.
Timescales
One of the main things to be realistic about is how long it can take you to move. The process of buying a house is a complex one, and one that is unique to each buyer. It involves many moving parts and various stages which can be shorter, or longer, for different people. If you are part of a chain, meaning if you have a property to sell first, this can cause some delays as you aren’t only waiting to find your next home, but selling your current one. In most cases, there will be a certain chain involved, unless you are a first-time buyer, or the seller of your prospective home has already moved on or isn’t buying again.
There’s also the process of arranging your finance for purchasing your home, from saving for your deposit, getting a mortgage Agreement in Principle (AIP), followed by the stages of making an offer, having it accepted and signing contracts. In an ideal world, from finding your home to moving into it, this can take a few months, plus a few hiccups on the way.
If you’re selling your home, there are timescales to consider that are separate from purchasing a home. The property market has been particularly buoyant in recent years but there are predictions that this could slow down this year with the higher cost of living taking its toll. But if you’re putting your home up for sale then s1homes can help. Either to list your home on our site reaching hundreds of thousands of Scottish buyers every month, either privately or through some of the biggest names in property, or following our simple tips for selling your home.
Affordability
Everyone loves to have a nosy at the biggest and most expensive homes for sale, it allows us to have a little daydream and get some inspiration for our own home, but it’s important to be realistic with how much you can actually afford. Of course, when applying for a mortgage you are given a budget depending on your income and affordability, so you will have a limit of what you can’t go over, but it can be tempting to take on something that is out of your price range. Remember it’s not just your mortgage payment you need to worry about every month, it’s all the household bills that come with that privilege. From gas and electric, council tax, insurances, and general living costs. You need to factor all of these in when checking what you can afford to pay every month.
Think about the future too and if this could have an impact. Are you considering changing job, starting a family, or even reducing your working hours?
There are many ways to bag your dream home without having to stretch your budget. Could you buy somewhere smaller that has potential to extend? Or could you buy an older property and renovate? Or could you expand your search radius for areas that are a little cheaper in cost of living, but still close to your ideal location?
Remember, when it comes to helping with your property search, setting up alerts is your best tool. You can do this easily at s1homes and get the newest property listings sent direct to your inbox, all matching your search criteria and within your budget.
Don’t panic
Nothing good ever comes from panic buying. Whether that’s buying a new outfit for a last-minute night out or your future home. We don’t always make the best decisions when under pressure and although you can always return the outfit, that’s not really an option when buying a house. Being realistic with your goals doesn’t mean don’t make them at all or narrowing your options down so much that you feel trapped. It’s more about setting yourself realistic expectations, so that if something goes wrong or is taking longer than expected, you don’t panic. Sometimes in the property world taking your time isn’t the best approach as you can miss out on good opportunities, but be careful in your approach, plan as much as you can in advance and don’t panic. Your dream home is out there.