A few of my friends currently rent their houses and the other day I was having a chat with them about how although they are happy with renting for now, in the long-term they really want to buy there own home, so are working towards that goal. I was giving them some advice and thought I’d share it on here too, just in case any of my readers currently rent, but are keen to buy. I am going to explain how your local estate agent can help you to do this. In particular, how they can assist you even if you are not yet able to afford to buy a property.
A great source of up to date information
The agents in my area have always been very helpful. A friend of mine has had a similar positive experience with estate agents in York. Despite the fact you may not in a position to actually buy a property a local agent is an invaluable source of information.
I’ve always found agents to be extremely helpful, and knowledgeable about the various schemes that are available to help people to get onto the property ladder. They often clearly spend time guiding other first time buyers and helping them to find their first property.
Although, your local estate agent may only give me an idea of the costs involved in each option, they should also be to give you the contact details of someone who was qualified to give advice about financial products.
Local knowledge
When we were buying our first home we found that our local estate agent clearly knew our area well. For example he knew straight away, which streets offered the cheapest housing. He also clearly understood which parts of the city are up and coming, and represent a good investment opportunity. If you are trying to work out whether it is viable for you to buy a home talking to an estate agent is a great way to start to work out what type of property you should be looking at, and which areas you are most likely to be able to afford.
When you are ready to take the next step and buy, having a good relationship with your local estate agent can prove invaluable. They will bear you in mind and tell you quickly when suitable properties come on the market.
In areas where flats and houses sell fast, this insider information is vital. It significantly improves your chances of finding a property that suits you, and is within your price range.
Naturally, estate agents primary focus is on people who have cash to spend, or a property to sell or rent out, which is understandable. After all, they stand a good chance of making money fast with this kind of client, so they would be fools not to look after them well.
However, someone who doesn’t yet have the money to buy a property will most likely be less of a priority to an estate agent. Therefore, they may be a bit slow about getting back to you with information or updates. My advice is that you bear this in mind and be patient, and understanding, but do take the time to follow up and remind them about your questions. If you take this approach, you should find that most estate agents will respond positively, and share invaluable information with you.
Do you have any other tips that might be helpful?
J xx
Post written in collaboration.
