"Buy Now" Baaa.....

When is the best time to buy a property ?

The answer ALWAYS given by the miriad of property investment clubs is 'NOW'. Don't be led sheep like into this ruse as many people are. Normally with the threat that 'you will miss out on this incredible deal'.

My personal opinion is that you shouldn't deal with investment clubs, avoid them like I avoid the day old doughnuts pushed to the front of the self service counter at my local cafe.

However, do your homework yourself and you could find you snag a real bargain, dependant upon the demand and supply of properties, interest rates and seasonal trends - which all effect the economy.

Buyers generally do best when the market is quiet. A lull in activity can make sellers anxious putting the buyer in a stronger negotiating position.

During July & August people are often on holiday instead of searching for property. November and December are also quiet months and in the run up to Christmas, this is when vendors are particularly susceptible. They’re often keen for progress before the end of the school holidays, Christmas and the New Year, so buyers stand a good chance of having their offer accepted.

If you are buying a new build, speak with the developer directly, register your interest and negotiate with them. Their prices are never set in stone. If they simply won't budge on the price ask for kitchen & bathroom upgrades. They won't lose a potential sale for the sake of a trade price bathroom suite and kitchen.

Don't wait too long - Use the simple 1 month rule - Anything less than 1 month then you have not done enough homework on the property and the area. Anything more, then you are in danger of procrastinating and need to get your act together before you lose out.

Don't wait for house prices to drop - They wont - Particularly in this area of the country. They will continue to rise, albeit slower, for at least the next 18 months. The last housing price crash was due to the huge interest rates at the time. Interest rates are effectively controlled by the Bank of England. So we shouldn't see another house price crash like we did in the late 80's.

Above all, for investment purposes, buy with your head not your heart. For your own home, reverse that sentiment.

May I wish you well in your property hunt !

I've worked up quite an appetite after this blog, however there are no buns or cakes for me tonight. Mrs Jackson has prepared a sticky toffee pudding for our dessert, which is nearly as good as those you can buy from my favourite village shop in Cartmel, Cumbria.

I must close now as I am beginning to salivate at the thought !

Mouth watering regards,

Mr Jackson.