Now that you’ve been approved by the banks, remember that you have six months to find and purchase a property. During that time as you’re house hunting, be sure to maintain the same behaviours in terms of your finances, banking, and spending.
Likewise, keep your paperwork organised and updated. You’ll also want to keep up on new developments with the local real estate market and keep in touch with any real estate agents who are helping you.
Why is it so important to be proactive and organised?
It was just reported that over the last year, there were 42,000 mortgage approvals by the banks. However, there were only 15,000 new properties available for first-time buyers, so obviously there’s a huge pent-up demand.
I’d also like to help you with the questions you should be asking when you do see a property. For instance,
- Inquire if there are any new developments in the area that you should be aware of that may impact the value of the potential new home.
- If you’re buying a second-hand home, it can be a trickier proposition since you’re competing with so many other buyers. Count on bidding to ensue and do your research into prices.
There are two websites I like for that price research, the PropertyPriceRegister.ie, which has a great summary of selling prices over the last 3 to 4 months. I also like websites like myhome.ie or your real estate agent may have a useful website.
House hunting can be tough and when it comes to bidding and strategies to compete with other buyers, I have a lot of tips and advice for you, and it’s also important to know what questions to ask agents when you see a property.
So, I welcome you to contact me any time to chat about how you can find the right home!
For more personalised advice on ‘House hunting tips’ contact JC Mortgages