If you’ve been house hunting since the start of the year, you might be feeling frustrated because the months have flown by and you’re yet to secure your dream home.
As 2024 enters the home stretch, the pressure to find the right place can feel intense. Take a look at some tips to make your vision a reality before Christmas.
Broaden your geographic search
One of the best ways to increase your chances of finding a home is to expand your search area. While it’s fine to have a preferred suburb or neighbourhood, nearby areas can reveal hidden gems that meet your needs.
Broader searches can also lead you to discover emerging neighbourhoods with potential for future growth, often at more affordable prices. Keep an open mind and explore different suburbs; you might find a neighbourhood that surprises you.
Some buyers even decide to invest out of area instead of buying a place to live in. To get a foot on the property ladder they buy a home to lease in a nearby town or district, then rent where they want to live. Once their investment has grown in value, they can sell and take the next step on the property ladder.
Change your criteria
Sometimes, being too specific in your search criteria can limit your options. Re-evaluate your list of must-haves and see if there are any areas where you can be flexible.
For example, if you’ve been adamant about having a certain number of bedrooms, consider whether a slightly smaller property could work for you, especially if it offers other features that suit your lifestyle. Similarly, reconsidering the need for certain amenities or accepting a home that requires a bit of renovation can open up more possibilities.
You may have scrolled past homes that are actually a great fit so follow your local real estate agent’s lead if they contact you about a place they think might be suitable; they could recognise your ideal home before you do (agents have a knack for that kind of thing).
Boost your budget (if you can)
While it might not be an option for everyone at this point in time, increasing your budget can significantly broaden your potential home choices. Review your finances to see if there’s room to stretch your budget, perhaps by adjusting your deposit amount, reducing your living expenses or exploring different financing options. Additionally, you may qualify for grants or incentives that can provide extra financial support so ask your mortgage broker how much room you have to move.
Get to know your local real estate agent
Building a strong relationship with property professionals in the area where you want to buy can be invaluable.
Agents often have access to properties before they hit the market and can provide a heads-up about upcoming listings that suit your criteria. By communicating your wish list clearly and regularly checking in with them, you can stay ahead of the competition and get early access to new opportunities.
Even if you miss out on a home and it has sold before you have had the chance to consider your offer, give the agent a call. They could have the next one ready for its buyer.
When you’re ready to buy, your agent can also offer advice on making a competitive offer and negotiating so you don’t miss out.
Shop during school holidays and long weekends
School holidays can be a good time to win the fight for property, as many families head out of town and the competition may not be so fierce. With fewer buyers actively searching, you might find more opportunities to view homes without being surrounded by other people. If the seller is after a quick sale, you’ll be able to seize the day.
Finding a new home before the end of the year requires flexibility and a ‘think outside the square’ approach. Keep an open mind and stay persistent; and remember real estate agents are your friends;
it’s their job to match homes with buyers so the more they know about what you want, the better placed they are to help you.
Need help to find a home before Christmas? Reach out to teresa@teresaberger.com.au today.
