Article One: It isn't easy finding the right property

publication date: Jan 29, 2009
 | 
author/source: Kate Faulkner
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Buyers Property Problems Series
Article One: It isn't easy finding the right property

Suprisingly, finding the right property whatever your budget is, isn't easy! This is because we either find the right property at the right price, but the wrong location or the we find the right location but can't afford the price tag!

There are three things that you need to accept/know when finding a home:-

1. You will need to compromise on something! Most people have to compromise on space for location due to price issues. Even millionaire buyers suffer with this problem!

2. There are typically only 400,000 properties on the market at any one time. You have to be a little lucky that one of these is one you want and can afford!

3. The property is worth what the seller will sell it to you for!

The best way to focus on finding a property you want is to:-

1. Write a brief that has your 'minimum needs'.
2. Add to this list what else you 'want'.
3. Then identify locations and property types that you can afford. 

You may need to be prepared to wait for the property you want on a certain street to come up for sale, in which case try to get yourself in a position where you could move quickly as a 'cash buyer' either by renting or by preparing your home for sale and choosing upfront all the services you need such as an estate agent and legal company to work with.

Alternatively you may need to do work to a property at a later stage. For example if you want a three bed property but can only afford a two bed, can you find a two bed with a loft to convert or an extension to build on the back? You can research things like this at very little cost before you make an offer/buy.

Other ways of finding a property you want is to visit auctions, consider shared ownership or building your own or work out a 'trading up' property strategy that will enable you to afford the home you want in the future.

For more information visit our buying a home section where you can download our Buying a Property eBook and refer to finding the right property.   



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