Well, another year had passed with many trials, tribulations and of course opportunities, so what is 2017 likely to bring us..?
One thing you can be sure of - people will still need to move and the property market will continue to be a source of much interest! But with all the financial uncertainty - is now a good time to move? The truth is - anytime is a good time to move, as the property market will always have a relativity factor built in. If your property price is high, then so will your purchase and visa versa. Therefore, the financial status of the country to some degree is irrelative, but there are some key decisions you can make to help future proof your move:
- Consider a fixed rate mortgage. Money have never been cheaper to borrow, so increasing your mortgage right now is not a bad idea. But to make your future more stable, a fixed rate will certainly give you stability and make your financial planning easier. You can always review this nearer to the end of your term in order to get another suitable rate at the time.
- Always try and add value. Where possible, look to see if the property you are buying can be increased in value with improvement. That's not always about renovation, but sometimes as simple as looking for what a property is missing and adding it. French doors into the garden; changing the windows for something more attractive; improving the parking facilities and so on.
- Buy wise. Don't ever get carried away with emotional buying - make sure you seriously consider the purchase thoroughly before you make a financial commitment. It's an expensive mistake otherwise!
Our staff are always on hand to help with buying or renting, so please do ask for advise - it could make a BIG difference...!
We would all like to wish you a very Happy New Year and hope that Oakwood homes will be your agent of choice when you come to make your move.
Andrew Dickinson MD