When should I start looking for my next home?
I am often asked when is the right time to start looking for a home? The simple answer is that there isn’t any one time which is right for everyone.
We are going to look at some of the factors you should consider when you are thinking about moving home. We will consider knowledge of the market, ability to move and timing.
Wherever you are moving you don’t want to overpay. It is important, if you are looking to buy or to rent, that you know your market.
If you are moving within your local neighbourhood you will already know something about it. If you are moving from further afield you will need to get to know the market more.
Take time to visit the area so you get to know the neighbourhoods you might like to live in. Make sure to view properties so that you can judge value better.
Ability to move
Bear in mind that you need to be able to move when you find the ideal home. This might include selling your current property or, if renting, timing it with the end of the tenancy or the notice period of a break clause.
If you are buying you need to make sure you have your finances in place. Speak to a mortgage broker if you need to borrow money and make sure you know your maximum budget. Be careful to include any costs of moving in your total budget like movers’ fees and any redecoration or building work costs.
Buying a house or finding a rental property can take time. Set a target time for when you are looking to make the move and allow the time to complete the transaction. Take in to account thinks like school holidays and other commitments.
When buying you go through the legal conveyance process which can take months. You need to ensure that you have allowed enough time for this.
When renting you will find that most properties are listed a month or two before they become available.
So, when is the right time to start looking for your next home?
The answer is that it depends on your own circumstances. It’s probably best to start thinking about when you want to move. Make sure that you are then able to make the move in the time frame you have given yourself and give yourself enough time to get to know the market. If it means looking 3 months, 6 months or even a year before then do whatever is right for you.
If you want to chat about how best to go about your search, then contact us on email@example.com
If you need to sell your house before you move you can read some tips here: 5 ways to help sell your house.