The average price for a property in the UK in September 2013 is £170,000 (Nationwide). That’s probably the most money you will ever spend, so it’s natural you want to find something that’s perfect.
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XXX | Unfortunately the property market doesn’t work like that. Even buyers with multi million pound budgets have to compromise on location, space and the condition of a property. Bear in mind that people now put their properties up for sale on average every 25 years, it’s not a surprise you can’t find what you want when you want as there are so few properties being advertised for sale in most areas. |
So if you really want to buy, the first skill you have to learn is what you can compromise on. If location is hugely important to you, you are likely to have to compromise on space, if it isn’t, you might have to compromise on a longer journey to work than you would ideally like.
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XXX | Secondly, you have to learn to be a bit cheeky! Try to build good relationships with people who can help such as agents, developers and local surveyors. Putting notes through doors of properties you like – and have checked you can afford – can work. Friends I know put up a note in the post office for some land to build on and within days were given three plots to choose from! It might not work, but it’s worth at least a try if you really want to buy a home to settle into. |
Finally, you need to work out what you really need from a property and try not to get carried away. Buying your first property or two is more about what you can afford and what’s practical than buying your ‘dream home’. It took me at least 15 years of buying, doing up, selling and renting in between before I could afford my ‘perfect home’. Oh and I moved out of London to the borders of Lincolnshire, Nottinghamshire and Leicestershire.
I have what I want, but I had to compromise to get it.
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