Buying a Home After Brexit
Afraid of buying a home post Brexit? Do not let fear influence your decision. With some keen observation and a little caution, you can definitely buy your dream home even after Brexit!
Look for Infrastructure Projects in the Neighbourhood You are Considering
If you’ve come across a property of interest, find out if any infrastructure project is currently underway in the area, or if there are plans to undertake one in the future. Your estate agent or the local council can be a reliable source of information.
No matter the condition of the economy in the future, an infrastructure project can bring good returns on your investment in the form of a sale or rental benefits. If the budget and the property meet your expectations, then go ahead and invest in the property.
Find out How the High Street is Fairing
Are shops on the high street shutting down? Are people looking to sell their houses as soon as they can? Is the local council planning any projects for the area?
If businesses are shutting down and there is no positive development in the area, then it is a bad sign for the future. It is better to give up the idea of buying a house in the area.
Be Extremely Practical
You might have a vision of how your dream house should be, but be practical enough to separate your expectations from your actual needs. For example, you might want a house with a sprawling lawn, but it may not be prudent to invest in such a property when the market is unpredictable.
Hire Expertise after a Thorough Research
As a property buyer, you are going to need a reliable and result-oriented estate agent and solicitor – hire one after thorough research.
When it comes to an estate agent, ask the prospective agency about their work approach. If it involves advertising for a property and waiting for calls, then drop the agent. An efficient agent must have a thorough knowledge of the area and an impressive network of buyers and sellers. They should be able to connect you with good prospective sellers in a short time.
Such knowledgeable and well-connected agents usually have valuable experience on their side, which benefits you in many ways, including getting the right price for a property and even the best deals.
If you are hiring a solicitor, do not just hire based on low fees. People who do not know their job well will only prove expensive in the future.
Avoid Sticking to a Single Lender
You might have been using the same lender for years, but it doesn’t mean they have been offering you the best deals all along.
Lenders, especially those that serve a particular niche can give you access to deals that are the best only in that market. But, for the best mortgage deal, your lender must be aware of the entire market.
If you are looking to buy, sell or rent a property in Newcastle or the North East, Bowson can help you. We are a leading property management company with years of experience. As specialised estate agents in Newcastle, we can also help you find and manage tenants.
For expert guidance on buying a home after Brexit, call our expert letting agents in Newcastle on 0191 212 8100.
You’re in Safe Hands