Need help buying in a hot housing market?

Tue Nov. 3rd 2015

We're not saying it's an easy task, but there are a few things to keep in mind that might help in your quest.

Always be prepared

This is a big one. If you're serious about buying a house, you need to get organised. That means talking to a mortgage broker, finding out how much you can borrow, and getting your deposit in order. If you're not ready, you won't be able to make an offer and you could miss out on a great house.

Be realistic

Everyone has the perfect house in mind - but if you're a first time buyer in Auckland, perfect is out of your price range. Figure out how much you can spend, check out the areas you like and get an idea of prices. You'll probably have to make compromises but remember, you can always move once your financial situation improves.

Get moving

If you find something you like, don't be afraid to move fast. Being the first to make an offer means you're not compared to anyone else - and if the seller is keen to move, that could make a difference. If a property is going to auction a pre-auction offer can bring the sale forward and potentially cut out some of your competition.

Little things can make a big difference

Money isn't always the only thing that motivates sellers. Unconditional offers can be appealing to sellers, as they're assured of a sale without having to wait. Being flexible can also help - if you're willing to accept a longer or shorter settlement period, it could be helpful to a seller who needs to move on a certain date.

Get great advice

In the end, the best thing you can do is get help. If you're not an expert on the housing market (and most people aren't) then talk to someone who is.

Talk to Cave Financial for expert mortgage advice now.